PM Wale calls for a Melanesian growth corridor as PNG and Solomon Islands seek stronger trade and investment ties.
HONIARA, 18 August 2026 – Prime Minister Mathew Cooper Wale today urged Papua New Guinea and the Solomon Islands to turn their long-standing Melanesian relationship into a “structured, bankable economic partnership” as he officially opened the inaugural PNG – Solomon Islands Investment Conference in Honiara.
Speaking under the theme “From Opportunity to Investment: Building the PNG–Solomon Islands Growth Corridor”, the Prime Minister said the two countries must move beyond goodwill to deliver measurable economic outcomes for their combined population of over 11 million people.
PM Wale said PNG and Solomon Islands share more than a border.
“Trade across our islands was never a mere transaction. It was reciprocity. It was obligation honoured over generations. It was trust, banked and repaid,” he said.
“The wantok system that binds us is, in economic terms, social capital of extraordinary depth — networks of trust that lower the cost of doing business before a single contract is signed.”
The Prime Minister highlighted that more than 50 Papua New Guinea companies already operate in the Solomon Islands across banking, telecommunications, transport, agriculture and hospitality, with an estimated value of PGK 1 billion / SBD 1.8 billion.
“Capital goes where it expects returns. That figure tells the world that the Solomon Islands is investable,” he said.
He noted that new direct air connectivity, with the weekly Solomon Airlines service between Honiara and Port Moresby launched in July 2026, will further reduce the cost of moving people, ideas and capital. “Connectivity drives commerce,” PM Wale said.
PM Wale framed the partnership around three dimensions, including;
Partnership for Growth: Diversifying beyond raw exports into agriculture, fisheries processing, tourism, renewable energy and digital services. “We seek private participation in commercial farming, agro-processing and export development,” he said.
Partnership for Solidarity: Ensuring benefits reach indigenous MSMEs, women and youth. “Joint ventures, local supply contracts, technical training and pathways to local ownership should become normal features of major investments,” the PM stated.
Partnership for Stability: “Stability is not imposed from outside; it is built from within, job by job, enterprise by enterprise. Let us redraw that map: from an arc of instability to an arc of stability and prosperity.”
The Prime Minister called for an end to extractive business models.
“It is time to look at new business models — models that process here, employ here, train here, and share ownership here. Models that respect our laws, our landowners and our custom, and treat tribal land not as an obstacle but as equity,” he said.
PM Wale said the groundwork is set with the MOU between PNGSIBC and SICCI signed in October 2025 and the Framework Agreement on Development and Economic Cooperation 2026-2030 signed with PM James Marape in Port Moresby in June 2026.
He urged conference participants to “move beyond discussion to implementation” and to create investments that lead to jobs and improve livelihoods.
“To PNG investors, my message is direct. Solomon Islands welcomes your capital, knowledge and experience. Come prepared to build long-term partnerships. Work with our businesses. Train our people. Respect our laws and landowners,” PM Wale said.
The Prime Minister concluded that the success of the conference will be measured not by speeches, but by “the investments that follow, the joint ventures established, the indigenous businesses that scale up, the jobs created, and the prosperity generated.”
The two-day conference is hosted by the Papua New Guinea Solomon Islands Business Council and the Solomon Islands Chamber of Commerce and Industry.
SOURCE // SIG Press Release
