HONIARA- The Solomon Islands Chamber of Commerce and Industry (SICCI) has called on the Government to prioritize a series of practical economic reforms, including electricity sector reform, tax fairness, and stronger local content rules, to ensure the benefits of national growth reach ordinary Solomon Islanders.
The call was made at SICCI’s Prime Minister’s Cocktail Reception, the first such engagement between Prime Minister Hon. Matthew Wale and the private sector since his appointment. The event coincided with a significant week for Solomon Islands’ economic institutions, with the Solomon Islands Ports Authority having marked 70 years of operation, and also Central Bank of Solomon Islands (CBSI) celebrate its 50th anniversary week under the theme “50 Years of Resilience and Progressive Development.”
Speaking at the reception, SICCI Chairlady Ms Namoi Kaluae said the milestones were a reminder of what Solomon Islands’ institutions can achieve through sustained commitment, and should serve as inspiration for the next phase of economic partnership between government and business.
“These institutions did not reach these milestones by luck. They reached them because people showed up, year after year, and did the work. That is the spirit we want to carry into the conversation ahead,” the Ms Kaluae stated.
Growth Must Reach Ordinary Solomon Islanders
While acknowledging positive economic indicators — including projected GDP growth of around 3.4 percent this year, easing inflation, and healthy foreign reserves — the Chamber cautioned that growth has remained too concentrated in capital-intensive sectors such as mining and construction.
The Chairperson noted that CBSI Governor Dr. Luke Forau had similarly warned that the benefits of growth were not reaching ordinary Solomon Islanders, and had called for a “big push” of coordinated, transformational reform across all sectors of the economy.
“The question before us is not whether Solomon Islands is growing. It is who that growth is for,” SICCI Chairlady said.
What the Private Sector Is Calling For
SICCI outlined six priority areas for Government action:
1. A comprehensive Local Content Policy to accompany the SME Bill, ensuring Solomon Islands businesses are not excluded from opportunities they can competitively deliver.
2. Policy alignment between Solomon Commodities, the National Competition Policy, and other frameworks, to ensure local producers are supported rather than disadvantaged.
3. Electricity sector reform, including prioritisation of amendments to the Electricity Act to establish an independent regulator and open the market to private investment and renewable energy generation.
4. Infrastructure investment, including roads, bridges, and wharfs, and a guaranteed role for local businesses in major projects such as the Bina Harbour Tuna Plant supply chain.
5. Tax reform, including a review of the proposed VAT Bill’s 15 percent rate and registration threshold to protect SME cash flow, and a comprehensive review of the PAYE system to simplify and standardise the treatment of allowances and non-cash benefits.
6. Investment in downstream processing, to add value to Solomon Islands’ mineral, tuna, and agricultural exports domestically rather than exporting raw materials.
The Chamber also called for longer-term structural reforms, including accelerated registration of customary land for commercial use, greater local ownership in the retail and wholesale sector, a National Workforce Development Plan to prepare Solomon Islanders for upcoming employment opportunities such as the proposed Gold Ridge mine expansion, and a formal quarterly Public-Private Dialogue with the Prime Minister or Deputy Prime Minister.
A Partnership, Not a List of Complaints
The Chairperson emphasised that the Chamber’s intention was constructive engagement rather than criticism.
“We are not seeking favours. We are seeking fair rules, transparency, and a partnership of trust. Your government has the mandate. The private sector has the willingness. Together, we have everything we need,” Ms Kalauae higlighted.
SICCI confirmed it will continue its programme of engagement this year, including the PNG–Solomon Islands Business Forum, new strategic partnership agreements, the Business Excellence Awards, and continued advocacy on land and regulatory reform, as the country prepares for graduation from Least Developed Country (LDC) status in 2027.