The Honourable Lency Jamie Vokia, Minister for Commerce, Industries, Labour, and Immigration, yesterday introduced the Special Economic Zone (SEZ) Bill 2024 for its second reading in the National Parliament, describing the legislation as a transformative milestone for the nation’s economic development.
In his address to Parliament, Minister Vokia emphasised that the Bill represents years of consultation, policy groundwork, and inter-agency collaboration aimed at unlocking inclusive economic growth across the country.
“This Bill is more than a legal framework—it is a covenant with our people. It marks a commitment to building an economy that works for Solomon Islanders,” Minister Vokia said.
The Special Economic Zone Bill 2024 seeks to establish and manage Special Economic Zones throughout the Solomon Islands, creating targeted zones that attract investment, boost industrial and commercial activity, and generate meaningful employment opportunities. The initiative is aligned with the National Development Strategy 2016–2035 and stems from the Solomon Islands Special Economic Zone Policy 2015.
The Minister acknowledged that the path to the bill’s development began over a decade ago, when Cabinet first established a taskforce in 2015 to develop a policy and legal framework to support industrial growth, rural development, and international investment.
“This Bill is the product of extensive national consultations, conducted across all nine provinces and key urban centres, and includes the input of provincial governments, business communities, and civil society,” he noted.
Minister Vokia highlighted that the Bill aims to:
• Promote a strong, diversified economy rooted in public-private partnerships;
• Develop critical infrastructure and empower industrial growth;
• Streamline regulatory processes and reduce barriers to business;
• Attract sustainable foreign investment while protecting national interests;
• Ensure inclusive participation by customary landowners, local businesses, and international investors.
• The legislation also provides for the establishment of the Solomon Islands Special Economic Zone Authority (SIZEZA), which will oversee the implementation and regulation of SEZs.
The Minister indicated that support from development partners will be sought to help build the authority’s institutional capacity and operational framework.
While tabling the Bill, Minister Vokia acknowledged receiving the report from the Bills and Legislation Committee only the previous afternoon, containing 72 recommendations.
“Approximately 25 percent of the Committee’s recommendations will be addressed through regulations being developed by the Ministry and the SEZ Technical Team. We expect to complete this work during the second half of this year,” he said.
The Bill is being described as the first of its kind in the Solomon Islands and is expected to play a central role in revitalising the economy, increasing exports, reducing unemployment, and fostering investment in strategic sectors.
In closing, the Minister reiterated his Ministry’s commitment to implementing the SEZ framework in a fair, transparent, and accountable manner, with a strong emphasis on inclusive growth.
“This is about ensuring that growth reaches every corner of our islands—from Honiara to the most remote communities,” he said.
The debate on the second reading of the Special Economic Zone Bill 2024 is scheduled to continue next week.
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[Source: npsimedia]
