Business mission for SI next week - Solomon Star News

Business mission for SI next week

06 March 2014

Businesses are invited to participate in the Australia Pacific Islands Business Council’s trade mission to the Solomon Islands, which begins Monday next week - March 10.

The mission is being organised with support from Austrade.

The Solomon Islands economy is accelerating its recovery from the severe economic contraction and stagnation caused by ethnic tensions experienced from 2000 to 2003.

The economy grew at over seven per cent per annum between 2004 and 2008, recording some of the highest growth rates in the region.

The Solomon Islands offers solid opportunities for the international business community in areas such as mining, infrastructure, services, tourism development, sustainable forestry, agri-based industry and fisheries.

With social and political stability back in place, a Foreign Investment Act attracting investors and a Government committed to a sustainable medium-term fiscal strategy, the Solomon Islands is now emerging from its recent troubles.

The country’s main exports are commodities and include timber, fish, cocoa and copra. The mining sector is growing: the Gold Ridge gold mine near Honiara restarted production in March 2011. A significant nickel deposit on the island of Isabel is moving towards commercialisation.

Some fourteen sites across the country are under active exploration. The logging industry accounts for around 70 per cent of export earnings and 10 per cent of government revenue, but is expected to decline.

The mission offers participants a prearranged business programme, including optional targeted site visits depending on chosen industry sector; invitations to all networking functions during the mission; invitations to market briefings during the mission.

-          Pacific Periscope