Solomon Islands Economic Progress And Land Reform

PRESS RELEASE
21/06/07

Solomon Islands Economic Progress Underlies By Land Reform

Solomon Islands could follow Taiwan's progress in economic development provided the government addresses some major obstacles that have long hindered the country's economic performance.

And two of the most prominent setbacks for the country's economic development are the land tenure system and favorable tax incentives to attract foreign investors.

This is the comment of Taiwan's Ambassador to Solomon Islands, His Excellency George Chan while opening the 2007 Taiwan Trade Fair at the Kitano Mendana Hotel today.

"In my humble opinion, the first things needed to achieve this success are that land reform must be implemented and incentives must be given to foreign investors to attract them to come over here."

"Land reform will secure the rights of foreign investors and utilize the land at its maximum capacity while incentives will encourage investors to create wealth and jobs for the local people", said Ambassador Chan.

The trade fair is intended to promote Taiwan's bilateral trade and investment with Solomon Islands and with the region as well.

"Trade and investment are without boundaries. Poverty is the cause of all evils. The best way to eradicate poverty is to trade more and invest more, so as to create more jobs and wealth for the people," said Mr Chan.

Meanwhile, Ambassador Chan also took the time to announce the appointment of Taiwan's new commercial attaché to Solomon Islands, Mr. David Chou who will be coming to Honiara to work at the Taiwan's Embassy from July 10th.

"I am quite confident that with his efforts and with less restriction on foreign investments, more incentives for taxation and tariffs deduction and lesser transportation cost, the amounts of trade and investment between Taiwan and Solomon Islands and the region will be greatly increased", the Ambassador said.

The Trade Fair which featured Taiwan-made electronic and information technology products of more than 100 Taiwan companies, as well as varieties of vegetable products from Taiwan's King George Sixth Farm are the highlight of a the three-day exhibition that is open for public viewing.

ENDS

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