To'abaita Authority for Research & Development (TARD)

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Tuesday, August 21, 2007

Report shows that foreign investment and employment is growing after introduction of new Act

A Foreign Investment report shows that business investment and employment in Solomon Islands has continued to grow since the new Foreign Investment Act was introduced July last year.

The 2007 quarterly report of the Foreign Investment Division shows a further 30 new foreign companies and individuals invested in Solomon Islands in the second quarter of 2007.

This brings the total number of new foreign investors to a record level of 143 since the new Act came into force in July 2006.

The Government Communications Unit says the total value of planned investment since the commencement of the new Act to the end of second quarter of 2007 is SBD$2.3 billion.

It says the substantial rise in investments will create more jobs, and more revenue for the Government to spend on social services.

It says the government is satisfied with the new Act and will continue to pursue other reforms to improve the business environment, and remove constraints to doing business in Solomon Islands.

Source: SIBC

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