27 Jun 2006

RAMSI praises new foreign investment measures in Solomon Islands

7:23 pm on 27 June 2006

The Special Coordinator of the Regional Assistance Mission to Solomon Islands, James Batley, has praised the new Foreign Investment Act, saying it would help free up the economy and encourage growth.

He says it is a firm step in the right direction and would have long term benefits for the country by encouraging foreign investment.

Mr Batley says Solomon Islands cannot recover and grow strong by cutting itself off from the rest of the world, and without serious reforms like the Foreign Investment Act, the economy would go backwards.

He says the new law would not only encourage foreign investors, but Solomons businesses would themselves be winners because of the need by foreign investors for local products and services.