SI has lots to learn from Taiwan’s economic success

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Prime Minister Sogavare aks a question about the Kaohsiung Export Processing Zone to officials from the Taiwanese Company.
Prime Minister Sogavare asks a question on the Kaohsiung Export Processing Zone to officials from the company.
Prime Minister Sogavare asks a question on the Kaohsiung Export Processing Zone to officials from the company.

Prime Minister Hon Manasseh Sogavare and his delegation currently in Taiwan on an eight-day state visit toured the Kaohsiung Export Processing Zone (KEPZ) as the Democratic Coalition for Change Government draws closer to introducing the Special Economic Zones (SEZs) concept in Solomon Islands in a bid to stimulate economic growth.

The visit was organised to allow the Prime Minister and his delegation to hear of the company’s success stories in export processing since its establishment in 1966 based on the SEZs concept of speeding up economic development by attracting foreign direct investment through the provision of tax exemptions.

Members of the Prime Minister's delegation during the meeting with the Kaohsiung Export Processing Zone.
Members of the Prime Minister’s delegation during the meeting with the Kaohsiung Export Processing Zone.

The success stories of KEPZ as highlighted by company officials during the tour included its ongoing operation for 50 years now, creation of numerous employment opportunities, earning of substantial foreign reserves and achievement of a robust economic growth.

Speaking at the conclusion of the tour, Prime Minister Sogavare described it as an ‘eye opening’ experience that has enabled him and his delegation to understand the practicality of the SEZs concept.

He said the Solomon Islands Government under the leadership of the Democratic Coalition for Change Government is committed to ensuring robust economic growth for Solomon Islands, adding that Solomon Islands has a lot to learn from the experiences of Taiwan.

Prime Minister Sogavare presents a traditional Solomon Islands gift to the Kaohsiung Export Processing Zone company representative.
Prime Minister Sogavare presents a traditional Solomon Islands gift to the Deputy Director- General of the  Kaohsiung Export Processing Zone company, Chun-feng Tsai.

The Prime Minister said the Democratic Coalition for Change Government is taking a SEZs legislation bill to Parliament at its next sitting to achieve its robust economic growth policy objective.

Meanwhile, the Prime Minister and his delegation will visit the Kaohsiung Hospital tomorrow as part of its state visitation programme.

They will depart Taiwan this Sunday 31st July and will arrive back in Honiara next Friday, 5th August.