Last updated: 24 Jan 2013
Doing business
Current business situation
Challenges for doing business in the Solomon islands
- Scattered Islands – creates logistical challenges
- Taxation constraints
- Reasonably high cost of doing business – energy, communications, logistics and transportation, etc.
- Land tenure issues – customary ownership, limited supply of registered land (10 -15%)
Business culture
Setting up business meetings is very much an informal exercise and be aware the Solomon islands operates on ‘pacific time’. The person you arrange to meet may not show up (so it is always best to re-confirm appointments). On the other hand, you can schedule meetings at short notice. It is often a case of “give me a call when you get here” and sometimes you can just turn up without an appointment. If the person is not there call back later.
Business attire is also informal – short sleeve shirts snd trousers are fine, there is no need for jackets and ties.
Private sector growth continues to be the engine for economic growth and development with bulk of private capital spending came from foreign investment. Investment opportunities centres on key sectors:
- forestry
- fishery
- Tourism
- agriculture
- the services sector
Links and resources
Business Advantage International – www.businessadvantageinternational.com/publications/solomons.html
Solomon Islands Tourism Promotion Authority – www.visitsolomons.com.sb
Solomon Islands Chamber of Commerce and Industry – www.solomonchamber.com.sb
Solomon Islands Foreign Investment Division – www.commerce.gov.sb/Divisions/Investment/default.htm
Please note: this list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only.