Solomon Islands

Formerly a British protectorate, the Solomon Islands is a parliamentary democracy within the Commonwealth realm. Situated in the southwest Pacific Ocean, this chain of islands boasts terrain ranging from ruggedly mountainous peaks to picturesque coral atolls, making it an increasingly popular tourist destination. With a population of less than 800,000, exports primarily consist of minerals, timber, fish, palm oil and cocoa. The government extends incentives to attract foreign investors, focusing on key sectors such as agriculture, mining, fisheries, tourism and services.

However, the nation also grapples with bureaucratic sluggishness and regulatory inconsistency, an underdeveloped labor market, and limited access to credit, which stifles business initiatives. Additionally, the China-Solomon Islands security agreement signed in 2022, while potentially economically beneficial, has drawn criticism from the United States and its allies.