In a side event focused on fisheries development, Assistant Secretary of Project Management, Lisa Sugumanu, shared insights into the country’s efforts to improve its fisheries sector and promote sustainable development.
A key highlight was the Bina Harbour Tuna Processing Plant Project, a major initiative aimed at processing an additional 30,000 metric tons (MT) of tuna, significantly boosting the nation’s economy.
“The fisheries sector contributes about 10% of our government revenue, and in the offshore sector alone, it adds approximately USD 23 million to our GDP,” Sugumanu said, emphasizing the importance of sustainable resource use. Despite these contributions, the Solomon Islands faces several challenges, including limited infrastructure and capital to fund large-scale projects.
The Bina Harbour Tuna Processing Plant, which is set to become operational by 2028, will require 20+ hectares of land, a USD 232 million investment for infrastructure and plant setup, and the creation of 1,600 direct jobs. The plant will process up to 33,000 MT of tuna annually, producing cooked loins and longlines, along with an additional 2,000 MT of whole fish.
Sugumanu highlighted the significant benefits the plant will bring, estimating an economic value of USD 409 million annually over 15 years. “This project will create not just economic value but also industries that will support the processing plant and improve the lives of Solomon Islanders both socially and economically,” she added.
“The Bina Harbour Tuna Processing Plant will not only process tuna but will also create industries that will support it, contributing an estimated USD 409 million annually to the Solomon Islands economy,” said Sugumanu.
Addressing the challenges faced by the sector, Sugumanu mentioned the lack of suitable infrastructure, limited capital, and market access. However, she remained optimistic, citing the successful acquisition of 170 hectares of land for the project and ongoing feasibility studies supported by international partners such as the Australian and New Zealand governments.
Sugumanu stressed the importance of partnerships in ensuring the success of the Bina Tuna Processing Plant and other similar initiatives. “Sustainable development cannot happen without strong partnerships—nationally, regionally, and internationally,” she said.
“Sustainable development is costly, but it’s a necessity. We must maximize our resources, especially in a country like the Solomon Islands,” she said.
She also emphasized the need for sustainable resource management to benefit future generations. “Tuna is one of the most valuable resources for the Solomon Islands people. We are committed to ensuring future generations have the same opportunities to benefit from it,” she concluded.
She said through these initiatives, Solomon Islands aims to create a more sustainable, economically viable fisheries sector, benefiting both the local economy and future generations.
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Caption: Ariel view of Bina Harbour
credit: SIG
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