Business, investment forum held in Honiara - Solomon Star News


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Business, investment forum held in Honiara

18 June 2014

A CROSS-AGENCY business investment meeting was convened last Wednesday at the Ministry of Commerce, Industry, Labour and Immigration.

It was co-hosted by Taiwanese ambassador Victor Te-sun Yu and Hence Vaekesa, Permanent Secretary of the ministry.

It was a joint effort by related SIG agencies, the ROC (Taiwan) Embassy and Taiwanese private business sectors to promote business and investment.

A wide range of subjects concerning investment and trade facilitation, tax holiday and exemptions, visa and work permit application, corporate registration and the establishment of Economic Zone were discussed.

The Taiwan business community is requesting more tax incentives and streamlined administrative procedures to improve business efficiency.

“The objective of Ministry of Commerce, Industry, Labour and Immigration has always been facilitating the business efforts of the private sectors and boosting the national economic development,” Mr Vaekesa said in his opening remarks.

“By providing more incentives, SIG is expecting to attract more investments from Taiwan,” he added.

“As an economic partner of the Solomon Islands, Taiwan is seeking to create a win-win situation by promoting our business exchange, encouraging business investments, and thereby creating more local job opportunities,” Ambassador Yu said.

“Business cost is rather high in Solomon Islands. Taiwanese business community is eager to see SIG take constructive measures to provide more tax incentives and administrative facilitation to cut down the cost of business operations in this nation.

“Ultimately, close partnership between the public and private sectors of both sides is the key to success, and this cross-agency investment meeting is only the first step, and the next step is to organise a Solomon Islands Business Delegation to visit Taiwan toward late June, 2014.

“The Delegation will be led by Minister Elijah D. Muala. There will be five business representatives joining the delegation.

“I am confident this will mark the beginning of more business exchanges between our two countries,” Mr Yu said.

Around 20 participants attended this meeting, including representatives from the ROC Embassy, Ministry of Foreign Affairs & External Trade, Ministry of Finance & Treasury, Immigration Department, and the Taiwanese business community.

A meeting minute was signed by both sides as the foundation for further cooperation.