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The Solomon Islands Government (SIG) will develop a national economic roadmap based on the outcomes of the Economic Summit, other national sector plans and the National Development Strategy 2016-2035.
The Coordinating Minister for National Planning and Development, Rexon Ramofafia, announced at a press conference following the National Economic Summit that the government is taking major steps to address the country’s economic growth issues.
“This summit is critical in developing a roadmap to achieve development goals and strengthen our preparations for graduation from Least Developed Country (LDC) status,” said Minister Ramo Fafia. He stressed that the summit identified challenges but also covered many opportunities to advance the economy and development of Solomon Islands.
Mr Ramo Fafia added: “The deliberations of the summit will be presented to the Cabinet and will be coupled with other important factors to ensure cooperation and partnership with development partners to boost the country’s economic development.”
To this end, the Minnea National Peace and Development Council will also hold a dialogue with development partners later this month to focus on supporting national needs and priorities identified at the economic summit.
Minister of Finance and Treasury Manasseh Sogavare stressed the importance of the summit in identifying the main obstacles to economic growth and developing a tailored national economic roadmap.
“The Minister of Planning and I attended all sessions of the two-day summit and listened to presentations and views from our development partners, the private sector and experts who have conducted extensive research on the challenges facing our economy and various sectors,” Minister Sogavare said.
The intended outcome is a strong policy framework to support economic drivers and promote resilient and sustainable growth.
“Our country has great potential, but we must address the hot spots that are holding back development,” the finance minister noted, citing past economic crises, the COVID-19 pandemic and civil unrest.
The Government is ready to realign the budget and strengthen the identified areas and is confident that the transformative outcomes can be achieved.
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– MNPDC press release
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