With a wealth of natural and mineral resources complemented by a rapidly expanding labour force, Papua New Guinea possesses the crucial building blocks required to develop its fledgling industrial base into a strong economic contributor. After years of robust growth, and with substantial new revenues on the horizon, the time to purse the government’s aim to increase the manufacturing sector’s GDP contribution to 30% may be at hand. Much of the country’s industrial activity already focuses…
Industry and Manufacturing
From The Report: Papua New Guinea 2012
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Most of PNG’s industrial strength derives from its abundant minerals, hydrocarbons and agricultural products. Export markets are, however, naturally constrained by the country’s remoteness and its weak infrastructure, suggesting that PNG will be importing many of its finished goods for the indefinite future. The most successful industries, like food and beverages, cater to domestic consumption. There is room for expansion in downstream industries; for example, PNG accounts for up to 17% of the world’s tuna fish harvest but only processes 20% of the catchment locally. Investments in processing facilities for agricultural commodities like tuna and timber could bring in export dollars while boosting employment in the formal sector.
This chapter includes interviews with Charles Abel, Minister of Trade, Commerce and Industry; Murray Woo, Chairman, Manufacturers Council of Papua New Guinea; and Michael Kingston, General Manager, K. K. Kingston.