News Item

New industry strategy launched in Vanuatu

News 4 Sep 2018

Starting from a low base with just 3.8 per cent of manufacturing value added to the GDP, Vanuatu has untapped potential to move up the industry chain, says the government’s new Industry Development Strategy.

Today the Department of Industry said it believed it has made a big step forward in launching this new National Industry Development Strategy 2018-2022.

A spokesman said it will help boost the manufacturing capability of Vanuatu products and its markets and aims to increase industry to contribute to 10 per cent to the GDP.

The new development strategy outlines nine programs and 35 projects.

It said that in order to achieve its vision it must address two main barriers to the growth of industry.

“Firstly the ‘vertical level’ which is addressing policy constraints mainly to do with different products sectors of agribusiness,” said the strategy document.

“And secondly the ‘horizontal level’ which is policy barriers related to trade, investment, skills, support of micro, small and medium sized enterprise, infrastructure and innovation.’’

The programs and project outlined involved the launching of the ‘Made in Vanuatu’ brand and ‘buy Vanuatu’ network targeted at the tourism sector and niche export destinations.

A spokesman said it is planned to develop an ‘Export Toolkit’ for SME’s in Vanuatu looking to grow internationally from now.

Source: Vanuatu Independent