Stimulating investment in pearl farming in ... - World Fish Center

existing links, at locations within 25km of main centres (equivalent to an hour’s journeyby fast boat) an investor would be able to establish voice and internet communications.5. Security of investments5.1. Physical securityIn rural locations in SI physical security depends on a combination of factors. Regularpatrolling by the police is simply not available. An investor with portable assets to protectneeds to take clear and non-provocative precautions against theft that are understood andaccepted by neighbouring communities. Physical demarcation of boundaries byagricultural-type fencing, constant presence on the property of employees whose dutiesinclude regular inspection of perimeter fences etc, secure lock-up of offices, laboratoriesand storage of portable tools, outboard motors and other valuable items are obviousprecautions, as is not keeping large amounts of cash on the property.Oysters growing in a demarcated reef area as part of a pearl farming project would be thesubject of common knowledge and interest in the area, and an important component in thesecurity arrangements would be the attitude of people in neighbouring communities.Strangers are readily spotted and reported. If local residents feel they have a stake in thecommercial success of the pearl farm and thus an interest in its physical security—whichincludes not stealing its stock themselves—this greatly reduces a significant area of risk.5.2. Security of registered leaseholdsRegistered leasehold interests in land, including land below the highwater mark, egadjacent areas of reef, will be legally secure provided the appropriate procedures under theLand and Titles Act have been followed. As already mentioned, persons registered asowners of interests recorded in the land register are indemnified against loss arising fromrectification of any defect discovered in their title. They are entitled under the general lawof SI to assert and defend their rights to occupy and use land in ways appropriate to theirregistered interest.It is still the case, though, that good relations with local communities are crucial tosuccessful operations in rural areas. It would be impracticable to make and operate anagricultural or maricultural investment in a rural setting in a hostile social environment. Itwill be necessary to make sure that local communities know and understand what isproposed, that the operation is designed to provide as much participation for local peopleas is reasonable and practicable, business transactions with them are transparent, on fairterms as to prices and quality, and are properly recorded.When the business grows, the local stakeholders will need to feel that they can share partof that growth. If the business experiences harder times, aspects of these can be fairlyshared too provided the reasons are understood. This will not be news to persons who arealready successful investors in other Pacific islands, but it is important not to lose sight ofthis aspect of security in promoting the prospect abroad.13