BY LORETTA B MANELE
Jamie Vokia, Minister for the Ministry of Commerce, Industry, Labour and Immigration (MCILI) brought up the establishment of a Solomon Islands Special Economic Zone Authority (SISEZA).
Speaking in parliament on Wednesday this week after having introduced the Special Economic Zone (SEZ) Bill, he said an initial focus would be to establish a Solomon Islands Special Economic Zone Authority (SISEZA).
Vokia said in the local context, the SISEZA concept is intended to be an economic policy tool to achieve meaningful economic development by addressing inadequacies of foreign direct investment strategies to attract high-quality investment in strategic sectors.
He expressed that as SISEZA is new and will grow, external assistance will be needed to establish the authority.
Vokia said this will involve putting in place systems and processes as well as seeking assistance from the country’s development partners to build the authority’s capacity and oversight staff.
He assured parliament that his ministry is fully committed to implementing the legislative framework to increase foreign investments and provide an internationally competitive and hassle-free environment for exports that will in turn facilitate fair participation by domestic enterprises and manufacturers to be competitive globally.
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