BY SAMIE WAIKORI
THE government through the Ministry of Commerce, Industry, Labour and Immigration (MCILI) is strengthening private sectors in the country.
The government recently signed a MOU with the SICCI to strengthen the partnership under the newly introduced Public Private Partnership arrangement.
Minister for MCILI Willie Marau said during the official opening of the NZ Business Council Conference yesterday that they see a growing private sector as an engine for a robust economic growth in the country.
Adding that under the same initiative, government recognises foreign investment as a critical component to work towards.
He said a report issued by CBSI shows a huge proportion of private capital spending originates from foreign investment.
The minister said the MCILI is the leading agency responsible for formulating and implementing the economic and industrial development strategies for Solomon Islands.
He said with that the country see Foreign Direct Investment as a key to the growth and development of the local economy.
âHaving said that, I also would like to make mention that SI is a party to many international trade agreements which provides a good platform to international trading.
âThey include World Trade Organization (WTO), Pacific Island Countries Trade Agreement (PICTA), Melanesian Spearhead Group (MSG) and the most recent one is the PACER plus others.
âWe encourage onshore investment that will create employment opportunity and other direct benefits for the country,â Mr Marau said.
On the same note the minister thanked the New Zealand Pacific Business Council who came to seek opportunity to strengthen the business relationship between both countries.
âI recognise the objective of the conference is for New Zealand business leaders to learn more about Solomon Islands business operating environment, in order to generate opportunity for New Zealand and Solomon Islands.â