POLITICAL stability is key to giving investment confidence to investors and also the timely delivery of projects in the country.
Prime Minister, Manasseh Sogavare, highlighted this on Tuesday at Gold Ridge to mark the official commencement of commercial production by Gold Ridge Mining Limited (GRML).
The operation is a joint venture initiative between a Chinese owned company and a locally owned registered company – Gold Ridge Community Investment Limited (GRCIL). The Chinese company owns 90 percent of shares in GRML and GRCIL the remaining 10 percent.
Prime Minister Sogavare along with a number of his Cabinet Ministers, GRML officials, government officials, landowners and people from the surrounding communities witnessed the grand ceremony.
Speaking at the occasion, the Prime Minister highlighted the importance of having a stable government as the key to such investment taking place and delivered on time.
“Stability of the government is important for the timely delivery of the project,” he said.
He thanked all Members of Parliament (MP) for working together in ensuring there is stability in the country.
“Solidarity is important to achieve more for this country and instill confidence in investment,” he said.
The Prime Minister also acknowledged the hardworking Minister of Mines, Energy and Rural Electrification (MMERE), Bradley Tovosia, for his commitment towards ensuring the implementation of the project.
He said the Gold Ridge mining project is one the government’s national flagship projects.
And for that achievement, he said, a ‘red tick’ should be issued to MMERE for fulfilling this policy of revitalising the Gold Ridge Mine.
The country’s economy was hard hit in November 2021 when riot broke out in Honiara.
Following the incident, the government quickly struck a security deal with the Chinese Government.
Prime Minister Sogavare said the deal is important to allow overseas police to intervene within hours, should a similar situation happen again in the future in order to protect lives and properties of investors in the country.
He said this is part of ensuring investment confidence, law and order and stability in the country.
By MOFFAT MAMU