19 April 2022
The Government is committed to immediately resuming the country’s major development projects as part of the Government’s economic recovery plan this year after being stalled in 2021as as a result of the COVID19 transmission
Minister of Finance and Treasury, Hon. Harry Kuma announced this resumption when tabling the 2022 Appropriation Bill in Parliament Thursday last week.
These projects include the Tina River Hydro Development Project, the Munda airport upgrade under the World Bank Project, the Seghe and Taro Airport Upgrade project under a funding partnership between Australia, New Zealand, and Solomon Islands Government, the Highway Road Project from Kukum Campus to Henderson Road Project, the Malaita Infrastructure Projects, including road and bridge rehabilitation under the World Bank Project, the Central market to White River Road Project, under the Asia Development Project, the Henderson to Mbarande Road Rehabilitation Project, under the Asia Development Bank Project and the 2023 Pacific Games Infrastructure Projects.
The 2023 Pacific Games is the largest sporting event that Solomon Islands will host since Independence in 1978 that requires everyone to corporate, and assist the Government to prepare well for this great event.
Minister Kuma said the country will directly benefit from the Pacific Games as it is estimated to provide more than 10,000 new employment opportunities, earning roughly $200.6 million.
All sectors of the economy, namely construction, transport, trade and wholesale, manufacturing, tourism, telecommunication, finance, and Government, will directly benefit from the Pacific Games, both during the construction phase, during the games itself, and after the game is over.
Kuma said the expected GDP contraction of 4.5 percent for 2022 would have been higher if it is not for the Pacific Games-related activities later this year.
However, the positive contribution of the games for this year will largely be offset by the impact of Covid-19 community transmission and the November 2021 civil unrest.
Source. GCU.
Yours sincerely
Frank Short
