14 Jun 2019

Solomons govt putting limits on foreign investment

4:18 pm on 14 June 2019

The Solomon Islands government is planning to put limits on foreign investment to try and protect local business and encourage entrepreneurship.

Solomon Islands parliament

Solomon Islands parliament Photo: RNZ/ Koroi Hawkins

The minister for commerce and labour Clezy Rore said he is especially concerned about the recent influx of foreigners engaging in business activities reserved for indigenous Solomon Islanders.

The Solomon Star newspaper reported public transportation, small scale retailing and fresh produce marketing are some examples of businesses listed as reserved for locals.

Mr Rore told parliament that his ministry was considering going as far as denying visa applications for foreigners seeking employment in protected industries.

He also planned to review the list of reserved businesses, patch up legal loopholes and improve enforcement of the restrictions.

The minister said he wanted to encourage investment in the manufacturing sector which he believes will create more jobs for locals.