Permit registrations for female creative industries reach 600

September 25, 2024 9:45 pm | Posted in Business News | Share now TwitterFacebook

By Adorina Massing.

The three-day Vanuatu Made Trade Show is now open to the public, featuring a number of local businesses selected to showcase their authentic products.

The registration of industrial permits in the past two years has increased from 180 to 540, with many local businesses from every province in Vanuatu.

The permit registration for female creative industries has grown to 600.

During the official opening ceremony yesterday (Wednesday) at Feiawa Park, the Director General (DG) of the Ministry of Trade and Commerce, Jimmy Rantes, delivered remarks on behalf of the Acting Minister of Trade and Commerce, Johnny Koanapo.

“For the past few years, the Vanuatu Government has made a strong policy commitment, with the support of the Council of Ministers (COM) and Parliament, to grow productive sector development in Vanuatu,” he said.

“The Government has recognised the potential of the productive sector to build social and economic development in Vanuatu.

“I would like to acknowledge the Governments of Australia, New Zealand, the European Union, and other partners who have committed themselves to support the Vanuatu Government in achieving its goals for the productive sector and trade policy network.

“The growth of the productive sector GDP was 2.78% in 2018.”

DG Rantes added that, with the current economic situation and the expected recovery through air re-connectivity, there will be an increase in aggregate demand for goods and services.

“There will be more interactions between the producers and traders of Vanuatu Made products,” he said.

“This year, the Vanuatu Government has decided to allocate VT14 billion in the Capital Investment Budget to support infrastructure, the productive sector, and manufacturing and value addition.

“This follows the impact of EDF11 through the Industry Development Fund, Cooperative Development Fund, and investments in the primary sectors—Agriculture, Livestock, Forestry, and Fisheries.

“With the complementary support of Australia, New Zealand, and other partners, the Government has also implemented policy commitments to expand and decentralise investment opportunities to support rural economic development.

“It has focused on priority infrastructure investments at targeted strategic locations in Vanuatu to improve business and economic opportunities that can attract foreign direct investment and local investments.

“In order to fully implement the policy, the Government has committed VT1 billion to support manufacturing and value addition from the Capital Investment Budget.”

The DG noted that last week, the New Zealand Government, through the Ministry of Primary Industries, collaborated with the Ministry of Agriculture to strengthen all market access pathways, enabling and connecting growers and exporters to overseas markets.

“With these investments, every September, the Vanuatu Government and its development partners will organise a Vanuatu Made Week as a platform to showcase, promote, and facilitate business engagements between the producers, buyers, and service suppliers for Vanuatu Made products,” he said.

This is the sixth edition of the Vanuatu Made Trade Show, celebrating the innovations, creativity, and diversification of Vanuatu Made products, a result of investments from Vanuatu, Australia, New Zealand, and other development partners.