Solomon Gov't's Tuna Focus Attracts Investors

Gov't's new tuna focus attracts foreign investors

A number of significant overseas private investment groups including RD Tuna Canners Limited of Papua New Guinea's Madang Province and the Philippines have shown firm interest in investing in Solomon Islands.

This follows the government's recent announcement of its intention to refocus and restructure the country's entire fisheries industry at the advise of the Fisheries Advisory Council.

The council consists of local and marine and fisheries experts appointed by the Minister for Fisheries and Marine Resources, Honourable Nolen Leni.

The technical experts have noted that Solomon Islands is situated within one of the world's richest tuna vicinities known as the 'tuna belt' which accounts for a significant proportion of the entire global tuna catch conservatively valued at over US$6-billion per annum.

With that realization the government is keen to restructure the tuna industry to ensure tuna operations and activities take full advantage of the resources and that it maximizes the benefits to the country.

The government will employ the best and capable personnel to help redirect the focus of the industry to be more productive and profitable and attract growth and more long-term investment activities.

The RD Tuna Canners Limited and the other overseas investment groups have expressed confidence in the tuna industry redirection and also their readiness to seriously consider investing in Solomon Islands in downstream fishing and processing of loins and canned tuna.

The government hopes to also strengthen its relationship with the current tuna industry players, Soltai, TriMarine and National Fisheries Development to help contribute further to the new focus of the government.

ENDS

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