Solomon Islands

In Solomon Islands, PSDI is supporting reforms that address ongoing constraints to business activity and investment, and promote inclusive, sustainable private-sector growth. 

Solomon Islands has actively sought and implemented reform initiatives with significant support from PSDI. We have worked with the Government of Solomon Islands to: 

  • Develop a secured transactions framework, including the development of an electronic registry and providing ongoing support to lenders;

  • Support the Central Bank of Solomon Islands and the Ministry of Finance and Treasury in the preparation of a new credit union legislation;

  • Modernize business laws and registration processes, including: assisting in the development of a new Companies Act and the launching of an online companies registry; supporting the introduction of a community company structure; simplifying the business name registration process; and assisting in the creation of a modernized customs and excise regime;

  • Strengthen competition and consumer protection, through the development of a competition policy and providing support for a Competition Bill;

  • Strengthening state-owned enterprise policy, performance, governance, and transparency;

  • Promoting women’s economic empowerment, through pilot projects, and legislative review; and

  • Supporting reform through advocacy and analysis, including completing a private sector assessment for Solomon Islands in 2016. 

Resources and Spending

Solomon Islands has been a leading reformer in the Pacific region, actively seeking and implementing reform initiatives with significant support from PSDI. At $5.7 million, it has received the second-largest share of PSDI funds, behind Papua New Guinea.

Business law reform activities account for 43% of PSDI’s spending in Solomon Islands since 2007, funding initiatives such as customs and company law reform, including the procurement of an online companies registry. Initiatives supporting state-owned enterprise (SOE) reform account for 25% of overall spending and have led to the installation of a community service obligation framework, the development of shared accounting services,  the successful privatization of three SOEs, and a new SOE ownership policy. Financing growth initiatives, which account for 16% of overall spending, have underpinned secured transactions reform, a review of the regulatory framework for microfinance and mobile banking, strengthening the National Provident Fund, and the development of a Credit Union Policy. 

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On this website, $ refers to US dollars unless otherwise stated.

Solomon Islands at a glance

Secured transaction framework

PSDI supported the enactment of the Secured Transactions Bill in 2008, and the implementation of an electronic registry in 2009.

11,000 securities registered

As of end-2019, more than 11,000 security interests over movable assets to be used as collateral for loans have been registered in Solomon Islands using the PSDI-supported secured transactions framework.

Online registry launched

PSDI assistance and extended advocacy saw the Companies Act passed in 2010 and an online company registry, Company Haus, launched.

44 day reduction

in the time needed to register a new company, after the establishment of the Company Haus electronic company registry.

264% increase

in new company registrations following the implementation of the Company Haus electronic company registry.

New SOE Policy

endorsed by Cabinet in November 2018 to help ensure Solomon Islands’ SOEs remain among the best performing in the Pacific.
Latest News
24 January 2019
New SOE Policy Will Secure Solomon Islands' Legacy as Pacific's Leading Investment Manager — ADB

HONIARA, SOLOMON ISLANDS (24 January 2019) — Solomon Islands’ new, commercially oriented state-owned enterprise (SOE) policy will help ensure the government’s public investments remain efficient and profitable, says the Asian Development Bank (ADB).

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19 February 2018
Solomon Islands First Melanesian Country to Publish Public Enterprise Performance Results Online

HONIARA, SOLOMON ISLANDS (19 February 2018) — In a first for Melanesia, financial results and other key information from Solomon Islands’ $230 million state-owned enterprise (SOE) portfolio can now be viewed online.

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18 February 2018
With PSDI-supported Website, Solomon Islands Becomes first Melanesian Country to Publish Public Enterprise Performance Results Online

In a first for Melanesia, financial results and other key information from Solomon Islands’ $230 million state-owned enterprise (SOE) portfolio can now be viewed online.

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31 December 2016
Making it Easier to get on with Business

Hunter Masuguria, Acting Permanent Secretary of Solomon Islands Ministry of Commerce, Industries, Labour and Immigration, speaks at the launch of the expanded registry on 22 November at ceremony attended by representatives from the private sector and the Australian and New Zealand governments. In Solomon Islands, an expanded online business registry allows foreign investors and business names to be registered and searched online In a computer training room in Honiara in November, groups...

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24 November 2016
Finding Balance 2016 and Regional Ports Pricing Study Presented in Solomon Islands

Solomon Islands-related findings and recommendations from Finding Balance 2016, PSDI’s regional state-owned enterprises benchmarking study, were presented to government and private sector representatives in Honiara today. Laure Darcy, PSDI’s SOE Reform Team Leader and co-author of the report, explained how a reform program that incorporated financial restructuring, tariff increases and improved collections, privatization and liquidation, and compensation for providing non-commercial community services had made Solomon Islands’ SOEs the best performing in the...

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22 November 2016
Expanded Online Registry Featuring Foreign Investment and Business Names Services Launched in Honiara

Amila Salgado from ADB's Solomon Islands Extended Mission speaks at the launch of Solomon Islands expanded online business registry. Applications for foreign investment licenses and business name registrations can now be lodged online and processed in 24 hours thanks to upgrades to Solomon Islands’ business registry. The registry has been accepting online applications for company registrations since it was established with PSDI support in 2010. It has now been expanded so that...

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Key Publications
PSDI Annual Progress Report 2018–2019
PSDI Annual Progress Report 2018–2019
This report gives an overview of PSDI activities from July 2018 to June 2019.
Finding Balance 2019: Benchmarking the Performance of State-owned Banks in the Pacific
Finding Balance 2019: Benchmarking the Performance of State-...
This report profiles the roles, performance, market context, and regulatory frameworks of 13 state-owned banks in 10 Pacific countries.
Finding Balance 2019: Benchmarking the Performance of State-owned Banks in the Pacific
Finding Balance 2019: Benchmarking the Performance of State-...
This report profiles the roles, performance, market context, and regulatory frameworks of 13 state-owned banks in 10 Pacific countries.
PSDI Annual Progress Report 2017–2018
PSDI Annual Progress Report 2017–2018
This report gives an overview of PSDI activities from June 2017 to June 2018.
Women and Business in the Pacific
Women and Business in the Pacific
This book provides a comprehensive analysis of the context in which Pacific women engage in the private sector, and strategies to increase their participation in business.
Tourism as a Driver of Growth in the Pacific
Tourism as a Driver of Growth in the Pacific
Tourism in the Pacific is increasing and will be a key driver of economic growth in the coming decade. Yet despite more visitors to the Pacific, tourism growth is not inevitable for all countries in the region.