7 Sep 2006

Solomons law change sees increase in investor numbers

2:08 pm on 7 September 2006

The Solomon Islands Department of Commerce says there's been a large increase in the number of new investors as a result of the new Foreign Investment Act.

The new Act was introduced last June.

The department's Investment director, Derick Aihari, says it has fast tracked the process of registration for investors.

He says for all of last year there were 70 investors.

"The system is easier and that's why your seeing investors just come and register. And the number at the moment after 8 to 9 weeks is quite big, compared to the annual rate last year. Up until friday last week, we had registered up to 45 new investors."

Mr Aihari says the many foreign investors are from a range of countries, including Australia, New Zealand, the US, China, Malaysia and Canada.