Solomon Islands to develop SME policy

28/07/2011

Solomon Islands Finance Minister Gordon Darcy Lilo says the country needs to develop policies geared toward encouraging the development of small and medium enterprises<!--more-->

Economic development should not solely depend on foreign investment around which most policies are centred, he says. There is a need to encourage local businesses to stimulate local entrepreneurship and creation of employment.

Mr Lilo says the challenge is to get such economic fundamentals right, as there is a need “to recreate the economic and social systems of the country in order to spread our economic base.”

He has assured increased support for small to medium enterprises by developing appropriate policy.

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Photo / Dev Nadkarni

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