The Solomon Islands economy is projected to grow by 3.5 percent over the medium term.
That’s according to the East Asia Pacific Economic Update released by the World Bank on Monday.
The report highlighted that direct investment, the resumption of mining activities investments in fishing processing plants and information technology will boost growth for the country.
“This growth is relying on foreign direct investment of above nine percent of GDP in the next two years; resumed mining activity; significant donor investment in infrastructure; the development of a new fish processing plant; and broader diversification of the economy in the context of public investment in new ICT infrastructure.”
The report also noted that improvements in living standards will depend on strong and coordinated government action to broaden the economic base and promote inclusive economic growth.
The Democratic Coalition for Change (DCC) government has unveiled a $4.18 billion and a good portion of it will cover areas of investments.
By MOFFAT MAMU