A landmark shareholding agreement was signed on Friday between Kolombangara Forestry Plantation Limited (KFPL), the Kolombangara Landowners Trust Foundation (KLTF), and new investor ‘New Forest’.
Prime Minister (PM) Jeremiah Manele MP who officially witnessed the signing praised the collaboration, saying it follows his government’s efforts through a Cabinet Sub-committee to transfer plantation estate land titles owned by KFPL to the KLTF, and to allocate 20% of Investment Corporation of Solomon Islands, (ICSI) shares to Kolombangara Islands Investment Limited (KIIL), representing landowner interests.
The Prime Minister lauded the partnership, calling it a “testament to trust” and a shared commitment to generating long-term value for shareholders, communities, and the nation.
Welcoming New Forest, a Certified B Corporation, known for its social and environmental standards, Prime Minister Manele emphasized the alignment of the investor’s expansion plans with government policies promoting reforestation and sustainable development.
He also encouraged the partnership to foster downstream processing, highlighting the potential for smallholder forestry plantations on nearby islands such as New Georgia, Choiseul, and other parts of the Western Province to supply raw materials.
The Prime Minister expressed hope that, with the new partnership and expansion strategy, job creation will exceed 1,000 positions, benefiting both direct and contracted workers.
Prime Minister Manele underscored the government’s commitment to creating a business environment marked by fairness, transparency, and equitable sharing of economic benefits.
He called on all stakeholders including the national government, provincial authorities, landowners, and investors to provide strong and consistent support for the success of KFPL, describing it as a model the Solomon Islands can replicate in other sectors.
Friday’s signing ceremony represents a crucial step in empowering landowners to actively participate in major commercial ventures, advancing national priorities such as job creation, infrastructure development, environmental protection, and inclusive prosperity.
The signing was also witnessed by the Western Provincial Finance Minister.
– OPMC
