The Department of Industry (DoI) under the Ministry of Tourism, Trade, Industry, Commerce, and Ni-Vanuatu Business (MTTICNVB) will undergo a significant review of its National Industry Policy (NIP) in the upcoming remaining months of 2017.

The DoI is inviting local manufacturing industries around Port Vila, Santo, Malekula and Tanna including government stakeholders and donors to the participate in the NIP consultations, as well as the NIP Review Inception Workshop which will be held today at the Melanesian Hotel.

"Although during this particular time of the year, we are all engaged in a lot of equally important commitments, the MTTICNVB looks forward to your meaningful contributions and participation, as it is an opportunity to have yourselves involve in this process to integrate in regional and multilateral trade arrangements in global value chains," said Acting Director Noel Kalo.

The NIP was initially established in 2011, to:improve economic diversification and domestic value adding through enhancing the productivity, competitiveness and the capacity of manufacturing sector to move up the value chain; enhance linkages and spillovers among economic sectors.

It also aims to create an enabling environment for the private sector as the main engine for economic growth and enhance its productivity, capacity utilisation and trade capacity; 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.

Over the last five to six years, the NIP has assisted in establishments of various small to large scale manufacturing industries in Vanuatu and had provided linkages between industries in the rural areas to domestic markets. These linkages have provided for the rural farmer and producer an alternative means for making a living in addition to selling of copra and cocoa beans.

The last five years of implementing the current national industry policy have also assisted local producers in value adding their raw products. This policy is about to be revised to be more accustomed to the current needs and aspiration of both producers and consumers of Vanuatu products.

The revised version of the Industrial Policy is designed to be user-friendly permitting private sectors access of usage; will create more access to markets; and will assist producers to operate in a sustainable environment.

The NIP draws on the National Sustainable Development Plan (People's Plan 2030), Government's blueprint policy document which addresses the national long-term vision for "building a stable, sustainable and prosperous nation" and emphasizes the importance of the economic sectors and the role played by the private sector in Vanuatu.

The industrial sector is a key component of the country's economy, providing employment and adding value to the country's natural resources.

Source: Daily Post