Call for Action to Boost Industrial Growth in Solomon Islands
According to local economist Martin Hou, Solomon Islands continues to face significant challenges in developing a strong and sustainable industrial sector.
Despite its abundant natural resources and hardworking population, the nation's economy has remained heavily reliant on raw exports, subsistence agriculture, and informal activities.
Over the past decade, the nation’s economy has remained heavily reliant on raw exports, subsistence agriculture, and informal activities, limiting job creation, innovation and the country’s ability to add value to its own resources.
This situation warrants a redirection of the economy towards industrialization, as highlighted by Hou.
Author's summary: Solomon Islands needs industrialization.