Solomons Port Chief Blasts Multi-National Investors

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Pacific Islands Development Program, East-West Center With Support From Center for Pacific Islands Studies, University of Hawai‘i

Yow: Foreign companies ‘ripping off’ the country

By Eddie Osifelo

HONIARA, Solomon Islands (Solomon Star, April 1, 2016) – Solomon Islands Ports Authority (SIPA) Chief Executive Officer, Collin Yow has attacked multi-national companies investing in the country describing them as ripping off more money from people of this country.

Some of the companies are Solrice, Guadalcanal Plains and Palm Oil Limited (GPPOL) and National Fisheries Development.

Speaking during the public forum at Heritage Park Hotel yesterday, Mr Yow described the ongoing battle with these companies as a battle of economic supremacy.

He said, Solrice is owned by Sunrise, a company in Australia, which farmers in Australia are shareholders of it.

Furthermore, Yow said said GPPOL is owned by New Britain Palm Oil Limited (NBPOL) in Papua New Guinea, which is owned by SIME DARBY.

He said SIME DARBY owns the largest plantation in Malaysia and globally, and do oil processing in United Kingdom.

On NFD, Yow said it is owned by Tri Marine, which is based in Singapore and has its headquarters in United States of America.

As such, Yow said the issue here is to do with social justice where Solomon Islands wants its fair share of revenue from its resources.

He said most of these companies benefited from transaction transfer where most of the money returned to overseas, while they only paid taxes and GST.

As such Yow said this is the reason why SIPA came up with the reform of importing rice, noodles and pay planes in order benefit the indigenous Solomon Islanders in the future.

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