The Minister of Finance was instructed by the Prime Minister over the weekend to clarify and address outstanding issues concerning the approval of a substantial financial exemption worth over SBD 29 million granted to a Chinese-owned company. The exemption, aimed at upgrading a warehouse, wharf, as well as constructing an apartment complex and resort, has raised questions among the public and within government circles.
In his defense, the Finance Minister Hon. Sogavare explained that the exemption was recommended by the Exemption Committee due to the project’s alignment with the governmentβs strategic priorities, particularly in the tourism sector.
“As the Minister of Finance, it is my duty to achieve the governmentβs objectives”
Hon. Sogavare added
He emphasized that tourism is a key driver of economic growth for the country, and the upgrade of infrastructure, including the warehouse, wharf, and the development of resort facilities, would contribute to the sector’s expansion and sustainability.
The exemption was recommended because of its strong connection to a highly prioritized sectorβtourism.
He added that the country needs to invest more in tourism, which he described as a crucial sector for future development.
While the exemption has sparked some debate, the Minister reiterated that it was granted with the intent of strengthening the country’s tourism infrastructure and supporting the industryβs potential to drive jobs and revenue.
