Honiara, Solomon Islands - The Government for National Unity and Transformation (GNUT) has publicly acknowledged the vital role of the private sector in driving economic development in the Solomon Islands.

Speaking at the official launch of the 2025 Annual National Trade Fair on Friday, Deputy Prime Minister Honourable Frederick Kologeto described the private sector as “the engine room” of the nation’s economy.

Hon. Kologeto stressed the importance of not only enacting supportive legislative frameworks but also creating platforms that allow businesses to showcase their products, services, knowledge, and skills.

"The 2025 Annual National Trade Fair is a prime example of how we can create opportunities for our businesses to connect, grow, and innovate.

"This event allows companies from across the country to come together to share, learn, and promote their capabilities,” he said.

Hon. Kologeto further highlighted the value of the country’s diverse culture, entrepreneurial resilience, and innovative mindset as clear indicators of the Solomon Islands’ ability to compete in both regional and global markets.

According to the Deputy Prime Minister, the trade fair is expected to enhance market linkages within the country and across international borders.

He encouraged broad participation from the business community and expressed deep appreciation for their continued contributions.

“To our business community, your participation and investments are deeply valued. Your innovation and persistence drive the will of progress. To our development partners, we thank you for your support in promoting inclusive development,” Hon. Kologeto said.

He extended his gratitude to the Solomon Islands Chamber of Commerce and Industry for its ongoing efforts in fostering a dynamic and thriving private sector.

The 2025 Annual National Trade Fair is set to be a major event on the national calendar, aimed at stimulating business growth, encouraging innovation, and strengthening economic partnerships within and beyond the Solomon Islands.