The Prime Minister said that DCGA’s key priority political position for CEMA reforms is clearly stated in the fundamental economic development strategic objective 5.1.2 (c) (VI) to stimulate the revitalization of CEMA and achieve Cabinet approval to re-establish the commercial function of CEMA.

The Prime Minister, the Hon. Manasseh Sogavare officially launched CEMA’s “revitalization and recapitalization strategy” and officially declared the re-establishment of CEMA’s commercial and commercial functions.

Prime Minister Sogavare, in his speech at today’s launch ceremony, said the government is aware that the revitalization of CEMA is an important step.

“It is essential to create jobs, to enable our rural population to have access to markets for their products and ultimately to grow the rural economy of Solomon Islands,” he said.

The Prime Minister said that before the liberalization of CEMA in 2002, the rural economy of Solomon Islands was alive and prosperous with increasing production of copra and cocoa.

He said that our coconut and cocoa farmers are actively involved in the production of these products, which allows them to have access to income.

The prime minister said the inflow of cash into the rural economy was active and jobs were readily available for young people and women in rural areas.

However, he said that changed when CEMA ceased its trade and commerce function in 2002, as part of a major structural adjustment program imposed on small island states.

“We have removed the only reliable link we have with rural farmers. The beach trading strategy that the adjustment program advocated as an alternative has failed miserably, ”he said.

Prime Minister Sogavare said that the adjustment program has exacerbated the gap that already exists and that this change has resulted in increased rural unemployment, lack of income, lower standard of living and, at the political level, has leads to the continuous search for a better strategy to empower rural people. populace.

“The government realized that corrective action had to be taken to rectify the situation. As such, the DCGA, as a responsible government, is committed to continuing the plan to revitalize the takeover of CEMA, ”he said.

The Prime Minister said that DCGA’s key priority political position for CEMA reforms is clearly stated in the fundamental economic development strategic objective 5.1.2 (c) (VI) to stimulate the revitalization of CEMA and achieve Cabinet approval to re-establish the commercial function of CEMA.

“This key policy position is a continuation of the previous government’s initiative to ensure that CEMA is revitalized in order to improve its functions and provide quality marketing services as planned by the government, the private sector. , farmers and individuals, ”he said.

Prime Minister Sogavare said the Cabinet has approved and approved the report on the revitalization and recapitalization strategy submitted by the Cabinet subcommittee last week.

“The Cabinet has allocated financial and human resources to implement the strategy with the CEMA board and management by June / July 2021. This will allow CEMA to restart its business activities by purchasing, selling and exporting our local products by November 2021, ”he said.

Prime Minister Sogavare said CEMA’s revitalization and recapitalization strategy will span a seven-year period from 2021 to 2027.

He said this would require a total capital investment of SBD $ 77 million by the government, which will be implemented in 3 phases over a period of seven years.

Source: Press release, Office of the Prime Minister

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