19 Mar 2008

Solomon Islands Governor General says logging industry will not last

12:22 pm on 19 March 2008

The Solomon Islands Governor General says that the country's logging industry is not expected to exist in five years time.

Sir Nathaniel Waena has used his address at the opening of parliament, to warn how insecure the country's economic base is.

The Solomon's economy has flourished in the last few years largely on the back of investment and employment in the logging sector.

But Sir Nathaniel said that the days are numbered when the country can rely on logging.

He said Solomon Islanders must take up new sustainable livelihood opportunities or their standard of living will decline with the economy.

"To sustain economic growth and strong government finances in the longer term, our nation must have broader base of industries. Fisheries, tourism, oil-palm and mining are some industries that we know could flourish in this country."

Sir Nathaniel Waena.