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Economy of Solomon Islands and business opportunities

Economy of Solomon Islands

A per capita GDP of $3,200 ranks Solomon Islands as a lesser developed nation. Over 75% of its labour force is engaged in subsistence farming and fishing.

Sectors

Cash crops

Important cash crops and exports include copra and palm oil.

Gold

In 1998 gold production began at Gold Ridge on Guadalcanal.

Fishing

Exploitation of Solomon Islands rich fisheries offers the best prospect for further export and domestic economic expansion. A Japanese joint venture, Solomon Taiyo Ltd., which operated the only fish cannery in the country, closed in mid-2000 as a result of the ethnic disturbances. Though the plant has reopened under local management, the export of tuna has not resumed.

Tourism

Tourism, particularly diving, is an important service industry for Solomon Islands. Growth in tourism is hampered by lack of infrastructure, transportation limitations and security concerns.

Foreign aid

Since 2000 the Government of Solomon Islands has become increasingly insolvent. It has exhausted its borrowing capacity; in 2001 the deficit reached 8% of GDP. It is unable to meet bi-weekly payrolls and has become extraordinarily dependent on funds from foreign aid accounts, which provided an estimated 50% of government expenditure in 2001. Principal aid donors are Australia $247 Million per year (2006), New Zealand $14 Million per year (2004), the European Union, Japan $40 Million per year (2005), and the Republic of China (Taiwan) At least $20 Million per year.

Energy

A team of renewable energy developers working for the Pacific Islands Applied Geo-science Commission (SOPAC) and funded by the Renewable Energy and Energy Efficiency Partnership (REEEP), have hatched a scheme that enables these communities to access renewable energy, such as solar, without raising substantial sums of ready cash. If the islanders were not able to pay for solar lanterns with cash, reasoned the project developers, they can pay with crops.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Solomon Islands"

Global Tenders has one of the largest database of international and national tenders/competitive bids, procurement news, project information, contract awards, related to Solomon Islands from all over the world..

This section contains economy and business opportunities and from Solomon Islands.
Solomon Islands Economy Solomonian Economy, business opportunities in Solomon Islands.
Summary:
Hdpe Pipes Welding Expert
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
15 May 2024
Posting Date:
16 Apr 2024
 
 
 
Summary:
Grant-0663 Sol: Urban Water Supply And Sanitation Sector Project - Hdpe Pipes Welding Expert (51271-001)
Country:
Solomon Islands
Estimated Cost:
USD 133000
Notice Type:
Tender Notice
Deadline:
15 May 2024
Posting Date:
16 Apr 2024
 
 
 
Summary:
Financial Innovation Specialist For Our Telekom
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
10 Apr 2024
 
 
 
Summary:
Financial Innovation Specialist For Our Telekom Open New Window
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
23 Apr 2024
Posting Date:
09 Apr 2024
 
 
 
Summary:
Engineering Design And Construction Supervision
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
24 Apr 2024
Posting Date:
26 Mar 2024
 
 
 
Summary:
Curriculum Development Consultants
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
24 Apr 2024
Posting Date:
26 Mar 2024
 
 
 
Summary:
Loan-4403 Sol: Senior Secondary Education Improvement Project - Cs02 Engineering Design And Construction Supervision (55050-002)
Country:
Solomon Islands
Estimated Cost:
USD 3832880
Notice Type:
Tender Notice
Deadline:
24 Apr 2024
Posting Date:
26 Mar 2024
 
 
 
Summary:
Grant-0919 Sol: Senior Secondary Education Improvement Project - Cs03 Curriculum Development Consultants (55050-002)
Country:
Solomon Islands
Estimated Cost:
USD 10397065
Notice Type:
Tender Notice
Deadline:
24 Apr 2024
Posting Date:
26 Mar 2024
 
 
 
Summary:
Providing works for Control Towers (design and build)
Country:
Solomon Islands
 
Notice Type:
Tender Notice
Deadline:
29 Apr 2024
Posting Date:
15 Mar 2024
 
 
 
Summary:
Sb-Solomon Islands Agriculture And Rural Transformation Project -- P173043
Country:
Solomon Islands
 
Notice Type:
Procurement Plan
Deadline:
28 Jan 2025
Posting Date:
30 Jan 2024
 
 
 

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