Welcome to the Department of Industry Website. This website provides you information about the Services the Department is offering. The information on the website includes Industrial development news, events, national and international trade and marketing promotions, large and small-scale manufacturing industries including research and development component.
In collaboration with our public and private sector stakeholders, the Department contributes in service deliveries towards achieving the national goal of a 'wealthy Vanuatu" as enshrined in the PAA. To achieve that, our services are guided and delivered through the following policy objectives as directed by the National Industrial Policy:
1. Improve economic diversification and domestic value added through enhancing the productivity, competitiveness and the capacity of manufacturing sector to move up the value chain (PAA 2.3; 4.5)
2. Enhance linkages and spill over's among economic sectors (PAA 2.3; 4.1; 4.3)
3. Create enabling environment for the private sector as the main engine for economic growth and enhance it productivity, capacity utilization and trade capacity (PAA1; 1.4)
4. Contribute to the improvement of the merchandise trade balance and balance of payments through enhancing Vanuatu's exports, based on the country's comparative advantage (PAA 1.1.1; 1.5; 2; 4.3)
Vanuatu has consistently looked at economic growth that supports a stronger domestic manufacturing sector, competitiveness, human development and broader participation of all stakeholders in the Private & Public sector. The focus has been on increasing the capacity of the economy as well as entrepreneurship and transformation of institutions and markets to ensure inclusivity and dynamism.
To advance market access, industrialization and broad economic objectives , Vanuatu has pursued participation at regional, bilateral and multilateral levels, promoting collaborative agreements with both existing trade partners and fast-growing emerging markets. While constant evaluations of the progress made suggest successes in various areas, including changing the composition and structure of trade as well as headways under the National Industrial Policy (NIP) to guide the efforts of localization, some of our measures have been slower than anticipated. Key among the areas lagging behind has been the area of developing our exporter base, which continues to be very low. We may be aware that there is an acceptable critical mass of export orientation of about 9% to 15% for any sector or economy to gain competitiveness and benefits from trade processes. Currently, Vanuatu is well below this level because of many factors, including the export readiness of companies, key products, markets and promotional activities.
We are adamant that there is a need to maintain a vibrant manufacturing sector as well as priorities the diversification of the structure of trade and investment modes. We have also revisited exporter-importer relations in a bid to lobby the global growth for domestic economic development. it is clear that our challenge of remaining at the bottom end of the value chain is not going away and calls for more attention in addressing the capacity to industrialise and develop from within.
Increasing Vanuatu's exporter base is a vital component for spurring economic growth, improving participation within the economy and generating employment. Furthermore, the export readiness of companies remains a crucial component of our Industrial Policy Framework and remains central to achieving competitiveness and inclusive growth. Lessons learnt from the Euro zone crises are also a call for Vanuatu to imbibe a vibrant export culture into the economy to capture international business opportunities, retaining and expanding the country's market share.
Click Here for More News and Information that will be coming soon
30th July 2013 - Industry Meeting
Click Here for More News...