BY JOHN HOUANIHAU
Prime Minister Matthew Wale has pledged stronger government support for indigenous businesses and warns against the exploitation of the country’s natural resources, saying Solomon Islands must change course to achieve its goal of becoming a middle-income nation.
Addressing members of the Solomon Islands Chamber of Commerce and Industry (SICCI) at a Meet and Greet cocktail event on Thursday last week at Heritage Park, Prime Minister Wale said both government and the private sector share responsibility for the country’s economic challenges, describing past practices in the forestry sector as damaging to national development.
“The last 40-some years, they’ve reaped and pillaged this country,” Wale said, referring to the exploitation of forest resources.
He said despite decades of logging, the country has little to show for the wealth extracted from its forests.
The Prime Minister also raised concerns about similar practices emerging in the mining sector and said the government is taking policy measures to ensure resource development benefits the nation.
“We are going to be a wealthy middle-income country if we manage the sector well,” he said.
Wale said the government’s vision is to create jobs that pay a living wage and improve opportunities for citizens to save, invest, and own homes.
He also announced plans to introduce policies that will give greater support to indigenous businesses in government procurement processes.
“We are going to introduce bias towards indigenous business. In government procurements, we are going to favour indigenous business,” he said.
Wale stressed that the policy will not discriminate against non-indigenous businesses, but instead seek to address existing inequalities faced by local entrepreneurs.
“The policy is to give a fair go because it’s not a level playing field with indigenous business,” he said.
He said that details of the policy are expected to be released in the coming days.
PM Wale expressed confidence in the country’s economic future, saying opportunities for growth remain strong if government, businesses, and other stakeholders work together.
“The future is bright. But of course, we all must collaborate,” Wale said.
Photo credit: SICCI
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