The chairman of the Solomon Islands Chamber of Commerce and Industry says the amended foreign investment act coming into effect this week will be beneficial for the country.
The new act will speed up the application process for foreign investors and will protect more local business sectors.
It took foreign businessmen up to three months to get their application approved, but it is now expected to happen a lot quicker.
Peter Goodwin says the easier it is for foreign investors to get their business going, the more encouraged they are to enter the market.
"Definitely. If it is easier for businesses to establish themselves here, then it will give us a head start over other regional competition."
Peter Goodwin.
