24 Nov 2006

Solomons new investment act producing results

11:55 am on 24 November 2006

The 2005 foreign investment act passed by Solomon Islands parliament has led to an influx of overseas investors.

The Foreign Investment Division recorded 68 new registered foreign investors immediately after the Act took effect on 26 June this year.

In the same period last year only 38 foreign investors were registered as doing business in the country.

A comparison shows a 50 percent increase - showing signs that the new foreign investment act is an investment catalyst that the country lacks since independence.

Director of the Foreign Investment Division Derick Aihari says the government is keen to double the current figure and his department is involved in proactive measures to achieve that objective next year.

Mr Aihari says his Division is looking at doubling the current figure and that depends on how investors have confidence in the country and the kind of environment given to them.