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

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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
5.3. Protection against expropriationThere no history in SI (or the Pacific islands generally) of expropriation of commercialinvestment. Governments have shown a clear understanding of the damage such actionwould do the country’s chances of attracting further investment. SI subscribes to theAPEC principles on non-expropriation and is a member of the Multilateral InvestmentGuarantee Agency, part of the World Bank Group of institutions, which provides financialguarantees against expropriation of foreign commercial investments by host governments.There is no significant expropriation risk to a possible pearl farming investment that isconducted in a commercially and legally conventional manner.14
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Stimulating investment in pearlfarm
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Appendix IAppendix IIAppendix IIIAp
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various project elements to describ
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PNGSolomon IsPNGCook IsVanuatuFijiF
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Figure 2. Typical coastal habitat f
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to work alongside WorldFish science
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least two weeks before the main sur
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duration of the dive, maximum botto
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3.7 Natural disastersEnvironmental
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• Legislative review is underway
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− Manning Strait islands− Suava
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incentive treatment that fits the l
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continuing to enter the market. Thi
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Provisions for further aquaculture
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• licences will relate to a parti
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species in Australia are 5 - 10 tim
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6.3 Investor’s recommendations fo
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Report on an EU project grant to th
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Summary• Historically, the blackl
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1. IntroductionBlacklip pearl oyste
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3. Nationwide surveysIn May-June 20
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10 spat collectors were attached at
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On a local scale, it was found that
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3025Normalised catch201510500 2 4 6
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30Spat collector -125201510a. NoroL
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Figure 10. The number of Cymatium,
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Figure 11. Intermediate culture tra
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% survival10090HatcheryWild80706050
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Thus, under the regime developed in
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7.3 Retention and mortality after s
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7.5 Seeding of hatchery-produced sp
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have used average values of $25, $3
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9. ReferencesBraley, R.D. 1997. Fin
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depend mainly on the quality of the
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Report to:World Fish CenterSuitabil
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Suitability of Habitats for Growth
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Report to:World Fish CenterWater Te
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Water Temperature and Cyclone Frequ
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Report to:WorldFish CenterAbundance
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Abundance, Size Structure and Quali
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Page 184 and 185: Abundance, Size Structure and Quali
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Page 224 and 225: 1. Governance and political stabili
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Page 242 and 243: GILLETT, PRESTON AND ASSOCIATES INC
Page 244 and 245: Page 21. EXECUTIVE SUMMARYPearl far
Page 246 and 247: Page 42. BACKGROUNDPast research su
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Page 250 and 251: Page 8the bead in an even, uniform
Page 252 and 253: Page 10alternative products. Most m
Page 254 and 255: Page 12fisheries-related activities
Page 256 and 257: Page 144.3. PolicyThe current gover
Page 258 and 259: 5.2. Stocking densityPage 16Mature
Page 260 and 261: Page 18or harmful fouling organisms
Page 262 and 263: Page 20In addition to licensing und
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Page 266 and 267: Page 24provide them with technical
Page 268 and 269: Page 26management, disease control,
Page 270 and 271: Page 28Ministry of Development Plan
Page 272 and 273: Page 30‘seeding’ means the impl
Page 274 and 275: Page 326. Provision of statistical
Page 276 and 277: Page 3414. Aggrieved person may app
Page 278 and 279: Page 36Division V. Importation, mov
Page 280 and 281: Page 38(2) Separate fees are payabl
Page 282 and 283: Page 40Other forms of government su
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Page 42Solomon IslandsPEARL FARMING
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