The Solomon Islands offers solid opportunities for Australian business in areas such as infrastructure services, tourism development, sustainable forestry, agro-industry and fisheries. Its economy has grown consistently in recent years, except for a contraction in 2014 caused by devastating floods and the closure of Gold Ridge mine.
It grew by 3.25 per cent in 2015, and according to ratings agency Moody’s is expected to expand by 3.5 per cent over the next year. Exports are commodities-based and include timber, fish, cocoa and copra. A significant nickel deposit on the island of Isabel is moving toward commercialisation. There are also prospects in the near future of an Australian company developing a bauxite mine. The logging industry accounts for around 70 per cent of export earnings and 10 per cent of government revenue, but is expected to decline.
A one-day Australia Solomon Islands Business Forum is being organised next month on July 22 in Brisbane to showcase trade and investment opportunities in the Solomon Islands. Hosted by the Australia Pacific Islands Business Council the forum brings together senior Australian and Solomon Islands business and government representatives to hear and discuss information on current issues relating to doing business in the Solomon Islands. Participants will include senior corporate and government decision makers. A similar event last year attracted 150 participants.
Solomon Islands Prime Minister Manasseh Sogavare and Australian Senator Concetta Ferriavanti-Wells, Minister for International Development and the Pacific Islands will deliver keynote addresses. Gane Simbe, Central Bank of Solomon Islands’ Deputy Governor will speak on “Signposting the Pathway to Sustainable Economic Development.”
For more information on the 8th Australia Solomon Islands Business Forum and Expo please contact the Australia Pacific Islands Business Council, PO Box 422, Wynnum, Qld, 4178 or Email firstname.lastname@example.org.