BY NED GAGAHE
Finance Minister Manasseh Sogavare has called on indigenous Solomon Islanders to actively invest in key sectors of the economy, particularly tourism, in order to qualify for government tax exemptions and contribute to national development.
In an interview with the Island Sun, Sogavare emphasized that the government’s tax exemption policies are open to all investors, including indigenous entrepreneurs, who invest in strategic sectors.
Sogavare defended the government’s support for foreign investors, particularly the Chinese company Xiao’s Henderson Hotel Limited (XHHL), stating that the government’s role is to assist those investing in areas that drive economic growth.
He stated that there is nothing preventing Solomon Islanders from benefiting from the same tax exemptions if they choose to invest in sectors such as tourism or other critical sectors.
“Nothing stops the government from giving exemptions to Solomon Islanders,” Sogavare said. “You (Solomon Islanders) invest in the tourism sector; I’ll give you 100% exemption. Simple as that.”
He expressed disappointment that few Solomon Islanders were investing in these critical areas, urging local entrepreneurs to take initiative and seize such opportunities.
Sogavare criticized the tendency to complain without contributing to the development of the economy, especially when foreign investors are bringing in much-needed capital, creating jobs, and contributing to the country’s tax revenue and foreign reserves.
“We will be strategically stupid to victimize investors who come into this country, invest, provide employment, pay taxes, and contribute to foreign reserves while Solomon Islanders just sit to complain,” he said.
The Finance Minister reassured the public that the government’s policies are inclusive and that any Solomon Islander who applies for an exemption will receive fair consideration.
“I’m not closing my hands on this issue. Any Solomon Islander applies for exemption, I grant them,” he affirmed.
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