The Ministry of Commerce, Industry, Labour and Immigration in Solomon Islands is on the brink of launching a new small and medium enterprises policy.
The Permanent Secretary of the Ministry, Heinz Vaekesa, says the policy framework was formed based on consultations with stakeholders involved in small and medium enterprises.
He says the SME policy focusses on providing technical assistance and training, through dealing with the impediments faced by small industries, such as coconut oil producers who lack financial support.
"Under the policy it will give the government the tool to, for example, establish a financing scheme for example. We are actually looking at having a kind of financial institution that address small to medium enterprises."
Heinz Vaekesa says the Ministry of Commerce, Industry, Labour and Immigration hopes to launch the SME policy in November.