Knowing More about FID
Director/Registrar
Deputy director/Registrar a) Promotion Units The Promotion Unit
is headed by the Principal Investment Officer responsible for investment promotions.
The unit's objective is to promote Solomon Islands to international investors which
aimed to encourage foreign investment in Solomon Islands through identification
of investment opportunities, dissemination of information to potential investors,
provide guidance and advice on investment procedures and facilitate consultation
between investors, the national government and the people of Solomon Islands. Defined
functions of the Promotion Division. The Promotion Unit has been mandated to perform
certain functions aligned to achieving the overall objective of the Foreign Investment
Department. These mandatory functions include:
- 1. Publication and dissemination of investment information
- 2. Investment enquiries and responses
- 3. Promotion missions, seminars, tours and consultation
- 4. Advertising and awareness programmes
- 5. Investment opportunities identification and preparation
- 6. Investment contacts and networking
- 7. Foreign investment attraction
- 8. Client consultation and advice.
b) Evaluation Unit The Evaluation unit is headed by the Principal Investment officer
who is responsible for evaluation of Foreign Investment applications. This unit
performs an important role as it directly administers all foreign investment applications
destined for the registrar of investment to consider. The Evaluation main objectives
are:
- a) To ensure that all foreign investment applications are well maintained and processed
properly
- b) All foreign investment applications met the requirements of the Foreign Investment
Act 2005 and Regulation 2006.
The Evaluation Unit core functions involve:
- 1. Evaluate and Published appraised investment projects.
- 2. Processing and screening of Foreign Investment application for the registrar's
consideration and decision.
- 3. Application liaison and decision co-ordination for the Foreign Investment Division
and Foreign Investors.
- 4. Correspond with Foreign Investors on areas of application follow ups and information
required for investment projects
- 5. Give recommendation on technical reports for the registrar consideration and
decision
- 6. Convey to Foreign Investors the status of their Investment application.
- 7. Inform foreign investors about the status of their investment application.
c) Monitoring Unit The monitoring Unit comprised is headed by the Principal investment
officer who is responsible for monitoring of approved investment projects within
Solomon Islands. The monitoring unit main objective is to: Make sure that all foreign
investment activities being carried out conform to their conditions of registration
granted by the registrar of investment and that all foreign investors are informed
of their duties when conducting their investment activities within Solomon Islands.
The division's main functions include the following.
- 1. Monitoring of the progress of approved investment projects.
- 2. Enforcing compliance with the terms and conditions of approval
- 3. Assisting newly established investment projects
- 4. Providing guidance and advise to un performed investment projects
- 5. Assess investor and investment performance and give reports to the registrar
of Investment
- 6. Investigate into suspected non compliance and non approved investment projects.
- 7. Liaison and review approved projects.
The Foreign Investment Division believes in private sector growth driven by private
businesses and therefore cognizant of the importance of Foreign Direct Investment
to Solomon Islands. The Foreign Investment Division will always assist foreign investors
achieve their investment objectives.
|
