24 May 2016

ADB encourages further reforms in Solomon Islands

10:59 am on 24 May 2016

An Asian Development Bank report says further reforms to Solomon Islands businesses are needed to attract investment to diversify the economy and bring growth.

The report identified reform initiatives previously undertaken by the government aimed at enhancing the country's business environment.

It recommended further measures to attract investment and promote employment in the formal sector to help alleviate poverty.

It proposed improving the financial system, making state-owned enterprises more efficient, enhancing access to skilled labour, promoting women's economic empowerment, supporting competition, and modernising the tax system.

The ADB said the recommendations aimed to inform discussions on future initiatives, with the understanding that capacity constraints may limit responses.