Minister Harry Kuma says innovation, local production and value addition are vital as Solomon Islands prepares for LDC graduation.
Solomon Islands must accelerate innovation, expand domestic production and capture more value from its natural resources as the country prepares to graduate from Least Developed Country (LDC) status in 2027, says Minister of Commerce, Industry, Labour and Immigration Harry Kuma .
Kuma made the remarks during the opening of the 2026 Annual National Trade Fair.
He said LDC graduation demonstrates that Solomon Islands has made development progress, but also means the country will lose some of the special treatment it has previously received.
“Graduation means we have progressed, but it also means that special treatment we have enjoyed will no longer be there,” Kuma said.
The Minister said innovation will be critical to maintaining economic momentum and building greater resilience after graduation.
Kuma strongly emphasises that Solomon Islands needs to move away from an economic model heavily reliant on exporting raw commodities.
The country has substantial resources in forestry, fisheries, minerals and agriculture, but much of the economic value generated from these resources is captured through processing outside the country.He said increasing local processing and value addition would create greater opportunities for businesses, employment and domestic economic activity.
The Government’s agenda includes increasing domestic production in food, fisheries, tourism and manufacturing, reducing import dependency and improving market access for local businesses.
Kuma also urged businesses to adopt digital tools, including e-commerce, digital payments and online marketing, to overcome geographic barriers and connect Solomon Islands producers with regional and international markets.
He said the Government would continue reforms aimed at supporting micro, small and medium enterprises, including improving access to finance, simplifying business registration, strengthening market access and expanding downstream processing.
The 2026 Annual National Trade Fair is being held under the theme “Innovating Today for a Sustainable Greater Solomon Islands Tomorrow.”
By: Steven Kamoa
