BY NED GAGAHE
The GREAT Coalition Government has pledged to strengthen the management of Solomon Islands’ natural resources to ensure they deliver lasting benefits for both present and future generations.
Speaking at the launch of the GREAT Coalition Government Policy in Honiara yesterday, Prime Minister Matthew Wale said the responsible stewardship of the country’s forests, fisheries and mineral resources is the third pillar of his government’s national agenda.
He said Solomon Islands must avoid repeating the mistakes experienced in the logging industry as it develops its mining sector.
“The failures experienced within the logging industry must never, and will never, be repeated in the mining sector,” Wale said.
He said the government will reform the mining industry by strengthening legislation, improving environmental oversight, increasing transparency and ensuring customary landowners, provincial governments and the State are meaningfully involved in decisions on mineral development.
To ensure resource wealth benefits future generations, Wale announced the establishment of a Sovereign Wealth Fund that will preserve a portion of revenue generated from the country’s strategic resources.
The policy also promotes downstream processing, sustainable forestry and marine resource management to create more value within Solomon Islands while protecting the environment.
Wale said the government’s vision is to ensure the nation’s natural wealth creates long-term prosperity rather than short-term gains, while safeguarding the country’s resources for future generations.
Photo credit: Ned Gagahe
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