The Solomon Islands Chamber of Commerce and Industry (SICCI), the peak body representing the private sector, has maintained its position regarding the need to strengthen Micro, Small and Medium Enterprises (MSMEs) toward improving economic growth in the Country.
Speaking at the recent Institute of Solomon Islands Accountants’ Annual Congress 2025, SICCI Executive Officer Mr. Nelson Kere emphasised the need for stronger Government frameworks and sound policy direction to support the growth of MSMEs.
“MSMEs make up around 80% of all businesses in the Solomon Islands. They are a crucial part of our economy, and their role in providing employment, closing production gaps, and generating opportunities cannot be overstated. In order to build a sustainable economy, we must harness MSMEs role at the centre of our national growth agenda,” Mr. Kere said.
SICCI reiterated that the Solomon Islands requires minimum 5% GDP annual growth to sustain the growing population. The CBSI 2024 Annual Report registered economic growth at only 2.8%. This, the Chamber stressed, calls for greater commitment at policy level and targeted investments in key productive sectors such as agriculture, fisheries, tourism, and other emerging industries.
“A concerted, coordinated, and committed effort to support MSMEs will be critical to achieving long-term inclusive growth. SICCI is already providing services to its members and stands ready to work with Government and partners to scale these efforts,” he added.
The SICCI SME Industry Working Group representative Ms. Joyce Lelau further highlighted persistent challenges facing small businesses, including high electricity costs, heavy tax burdens, and the prohibitive expense of business registration.
“As an SME operator, I want to see a more robust and supportive operating framework for small businesses. The stronger the SME base, the better positioned we are to tackle high unemployment and create real job opportunities for our people,” said Ms. Joyce Lelau.
SICCI reaffirmed its commitment to working closely with the Solomon Islands Government, particularly the Ministry of Commerce, Industry, Labour and Immigration, to advance legislative reforms and implement recommendations from the National Business Forum 2025.
“As the leading dialogue partner for the private sector, SICCI remains committed to shaping a business environment that empowers investors, strengthens local content, and secures a prosperous economic future for the Solomon Islands,” the Chamber concluded.