Prime Minister Jeremiah Manele officially witnessed the signing of a shareholding agreement between Kolombangara Forestry Plantation Ltd. (KFPL), the Kolombangara Landowners Trust Foundation (KLTF) and new investor New Forest.
Prime Minister Manele praised the collaboration, saying it follows his government’s efforts through a Cabinet subcommittee to transfer plantation estate land titles owned by KFPL to the KLTF, and to allocate 20 percent of Investment Corporation of Solomon Islands (ICSI) shares to Kolombangara Islands Investment Ltd. (KIIL), representing landowner interests.
The prime minister lauded the partnership, calling it a “testament to trust” and a shared commitment to generating long-term value for shareholders, communities and the nation.
Welcoming New Forest, a Certified B Corporation known for its social and environmental standards, Prime Minister Manele emphasised the alignment of the investor’s expansion plans with government policies promoting reforestation and sustainable development.
He also encouraged the partnership to foster downstream processing, highlighting the potential for smallholder forestry plantations on nearby islands such as New Georgia, Choiseul and other parts of the Western Province to supply raw materials.
The prime minister expressed hope that, with the new partnership and expansion strategy, job creation will exceed 1,000 positions, benefiting both direct and contracted workers.
Manele underscored the government’s commitment to creating a business environment marked by fairness, transparency and equitable sharing of economic benefits.
He called on all stakeholders — including the national government, provincial authorities, landowners and investors — to provide strong and consistent support for the success of KFPL, describing it as a model the Solomon Islands can replicate in other sectors.
"Today’s signing ceremony represents a crucial step in empowering landowners to actively participate in major commercial ventures, advancing national priorities such as job creation, infrastructure development, environmental protection and inclusive prosperity," he said.
