Solomon Islands

In Solomon Islands, PSDI is supporting reforms that address ongoing constraints to business activity and investment, and promote inclusive, sustainable private-sector growth. 

Solomon Islands has actively sought and implemented reform initiatives with significant support from PSDI. We have worked with the Government of Solomon Islands to: 

  • Develop a secured transactions framework, including the development of an electronic registry and providing ongoing support to lenders;

  • Support the Central Bank of Solomon Islands and the Ministry of Finance and Treasury in the preparation of a new credit union legislation;

  • Modernize business laws and registration processes, including: assisting in the development of a new Companies Act and the launching of an online companies registry; supporting the introduction of a community company structure; simplifying the business name registration process; and assisting in the creation of a modernized customs and excise regime;

  • Strengthen competition and consumer protection, through the development of a competition policy and providing support for a Competition Bill;

  • Strengthening state-owned enterprise policy, performance, governance, and transparency;

  • Promoting women’s economic empowerment, through pilot projects, and legislative review; and

  • Supporting reform through advocacy and analysis, including completing a private sector assessment for Solomon Islands in 2016. 

Resources and Spending

Solomon Islands has been a leading reformer in the Pacific region, actively seeking and implementing reform initiatives with significant support from PSDI. At $5.7 million, it has received the second-largest share of PSDI funds, behind Papua New Guinea.

Business law reform activities account for 43% of PSDI’s spending in Solomon Islands since 2007, funding initiatives such as customs and company law reform, including the procurement of an online companies registry. Initiatives supporting state-owned enterprise (SOE) reform account for 25% of overall spending and have led to the installation of a community service obligation framework, the development of shared accounting services,  the successful privatization of three SOEs, and a new SOE ownership policy. Financing growth initiatives, which account for 16% of overall spending, have underpinned secured transactions reform, a review of the regulatory framework for microfinance and mobile banking, strengthening the National Provident Fund, and the development of a Credit Union Policy. 

SolomonIslands2007 2019 web2

On this website, $ refers to US dollars unless otherwise stated.

For detailed information on PSDI activities in Solomon Islands, download the 2022 PSDI Country Overview here.

Solomon Islands at a glance

Secured transaction framework

PSDI supported the enactment of the Secured Transactions Bill in 2008, and the implementation of an electronic registry in 2009.

11,000 securities registered

As of end-2019, more than 11,000 security interests over movable assets to be used as collateral for loans have been registered in Solomon Islands using the PSDI-supported secured transactions framework.

Online registry launched

PSDI assistance and extended advocacy saw the Companies Act passed in 2010 and an online company registry, Company Haus, launched.

44 day reduction

in the time needed to register a new company, after the establishment of the Company Haus electronic company registry.

264% increase

in new company registrations following the implementation of the Company Haus electronic company registry.

New SOE Policy

endorsed by Cabinet in November 2018 to help ensure Solomon Islands’ SOEs remain among the best performing in the Pacific.
Latest News
12 October 2023
Gender Inclusive Private Sector Enabling Environment Framework “absolutely critical and timely”—Solomon Islands

A group of nearly 30 representatives from government and civil society gathered in Honiara, Solomon Islands on Friday 6 October for a workshop to review and validate the PSDI gender-inclusive private sector enabling environment framework assessment for Solomon Islands.

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26 July 2023
More women in Solomon Islands business leadership can benefit all—PSDI Leadership Matters roundtable

More than 40 Solomon Islands government, business, and civil society representatives convened in Honiara in September 2022 for a roundtable discussion of PSDI's Leadership Matters report. Watch the video.

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12 May 2023
Solomon Islands leads the Pacific on SOE profitability — ADB report

Solomon Islands’ robust legal framework for SOEs has helped generate the highest portfolio returns among nine Pacific island countries, a new ADB PSDI report says.

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15 September 2022
More women in business leadership 'delivers benefits for everyone'—PSDI Leadership Matters roundtable in Solomon Islands

Greater gender diversity in Solomon Islands business leadership will “deliver benefits for everyone” by boosting productivity and profitability, a local launch event for PSDI's Leadership Matters study has heard.

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15 September 2022
Women representation in Solomon Islands boardrooms low (Tavuli News)

More than 40 government, business, and civil society representatives in Solomon Islands gathered on 14 September 2022 for a roundtable discussion on PSDI’s Leadership Matters report. (News item courtesy of Tavuli News)

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16 December 2021
Solomon Finance ready to operate in 2022

THE ISLAND SUN: Solomon Finance Limited, a credit institution owned by Solomon Islands National Provident Fund (SINPF) and supported by PSDI, is expected to commence its lending operation in 2022.

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Key Publications
Unlocking Potential: A Gender Inclusive Private Sector Framework for the Pacific Report and Country Assessments
Unlocking Potential: A Gender Inclusive Private Sector Frame...
The Gender Inclusive Private Sector Framework serves as a practical checklist for Pacific governments and institutions to measure progress and identify areas where further improvements are needed.
Understanding the Superyacht Market and Considerations for Pacific Tourism: A Solomon Islands case study
Understanding the Superyacht Market and Considerations for P...
This working paper collates background information on the global and regional superyacht sector for policy advisors and decision-makers in ADB Pacific developing member countries.
Innovative Financing Mechanisms in the Pacific
Innovative Financing Mechanisms in the Pacific
This paper examines the potential benefits and issues to consider around implementing Innovative Financing Mechanisms in the Pacific, which can lower barriers and provide more options for businesses seeking finance.
Investment For Growth: A review of foreign direct investment frameworks in the Pacific
Investment For Growth: A review of foreign direct investment...
This study reviews the FDI frameworks in Papua New Guinea, Samoa, Solomon Islands, Tonga, and Vanuatu, to support countries to attract, retain, and assess FDI efficiently and effectively.
PSDI Annual Report FY2022
PSDI Annual Report FY2022
This report gives an overview of PSDI activities from July 2021 to June 2022.
PSDI Tourism Infographic Brochure
PSDI Tourism Infographic Brochure
This infographic brochure illustrates PSDI’s work and key achievements in the Pacific tourism sector.