SI Group Signs Strategic Partnership with the Government of Solomon Islands: Ushering in a New Era of SEZ Development

On May 30, 2025, in Hanoi, SI Group and the Government of Solomon Islands officially signed a Strategic Investment Partnership Agreement—marking a pivotal milestone in the development of the nation’s first Special Economic Zone (SEZ). Held in a solemn and diplomatic atmosphere, the signing ceremony was witnessed by senior government officials from both countries, international organizations, diplomatic representatives, and the business community. This event signifies a new chapter in institutional collaboration between a rising Pacific island nation and a pioneering Vietnamese enterprise on the global stage.

SI Group signs a Memorandum of Understanding with the Government of Solomon Islands

Through this agreement, SI Group assumes the role of strategic advisor and priority investor in the development and global promotion of the Solomon Islands’ inaugural SEZ. The group’s role extends beyond capital investment; it reflects a long-term commitment to working hand-in-hand with the Solomon Islands Government in institutional development, designing a modern and sustainable operational model for the entire zone. This reinforces SI Group’s growing stature as a shaper of innovative development models internationally—transitioning from a project implementer to a strategic partner in regional economic transformation.

A Next-Generation SEZ Model: Breakthrough in Planning and Institutional Structure

The SEZ in the Solomon Islands is designed as an integrated, multi-sectoral ecosystem featuring high-tech agriculture, logistics, ports, finance, tourism, education, healthcare, and resource extraction. Unlike traditional special zones, this SEZ is envisioned as a dynamic, self-regulating entity capable of responding rapidly to global shifts—endowed with significant autonomy in policy formation and operational coordination.

“In the context of escalating global trade wars, Solomon Islands represents a destination relatively insulated from U.S. tariff policies. Though still developing, it holds immense potential in aquaculture, mineral extraction, and tourism,” noted Mr. Phan Nhat Minh, Chairman of SI Group. Its strategic location, abundant natural resources, and evolving regulatory environment make Solomon a highly attractive investment destination in the South Pacific.

From National Vision to Comprehensive Execution

Beyond investment commitments, under the Memorandum of Understanding, SI Group will work closely with the Solomon Islands Government as a strategic advisor—providing counsel on SEZ development strategies, institutional design, and the application of global best practices. The group will also lead promotional efforts to attract global investors and multilateral financial institutions, mobilize capital, build strategic technical linkages, and assist in regulatory reforms aimed at fostering long-term investment.

This approach ensures the project maintains strategic coherence, transparency, and efficiency throughout its lifecycle, while aligning SEZ development with international standards and long-term economic goals.

Minister of Commerce of Solomon Islands – Mr. Jaimie Lency Vokia

Commenting on the project’s significance, Solomon Islands’ Minister of Commerce, Jaimie Lency Vokia, stated: “We see this SEZ as the nucleus of our national modernization and globalization strategy,” adding that collaboration with SI Group is expected to spark a new wave of FDI in the South Pacific region.

GrowMax: A Pioneering Investor Shaping Practical Operations

As the pioneering strategic investor in the SEZ initiative, GrowMax—a globally recognized Vietnamese enterprise in high-tech aquaculture—plays a critical role in laying the operational foundation of the zone. Leveraging its expertise in the seafood production and export value chain, GrowMax will deploy key components including a high-tech shrimp farming complex, processing centers, and cold-chain logistics infrastructure for exports.

“Solomon Islands offers a clean and green environment ideal for high-tech shrimp farming. Additionally, processed products from the SEZ are eligible for subsidies from the Australian Government, opening lucrative opportunities for export,” shared Mr. Mai Van Hoang, CEO of GrowMax.

Pioneering Vietnamese enterprise investing in the SEZ project – Growmax Group

GrowMax’s involvement not only enhances the zone’s operational capacity but also reflects Vietnam’s long-term vision of sustainable development—delivering tangible benefits to both local communities and international stakeholders.

Clear Implementation Roadmap with Sustainable Development Goals

In the first six months, the focus will be on establishing the SI Group operations office in Honiara, alongside launching pilot projects including a shrimp farm, a medical clinic, a golf course, and timber logistics operations. The following 1–3 years will see the completion of synchronized infrastructure, diversification of the economic structure, and the creation of thousands of jobs for local residents.

The SEZ project in Solomon Islands stands as a powerful testament to Vietnam’s growing institutional and integration capabilities. It signals a shift from being mere suppliers to becoming co-creators of advanced international development frameworks. This is not just an economic cooperation project, but the inception of a deeply responsible and sustainable development paradigm—one poised to serve as a regional model across the South Pacific and beyond.

Strategic Vision from a Defining Milestone

The signing ceremony is more than just a formal agreement—it represents a transformative shift, where private Vietnamese enterprises are emerging as central players in international development architectures. From master planning to hands-on operations, SI Group and partners like GrowMax are demonstrating that Vietnamese enterprises have the internal capacity to shape the next generation of SEZs on the global stage.

Thus, the event on May 30, 2025, in Hanoi was not just a ceremonial occasion—it was a declaration. A declaration that Vietnam is not only participating in global development but is prepared to lead the charge in creating responsible, resilient, and forward-thinking models for the region and the world.