Industry & Retail

With the Covid-19 pandemic set to significantly slow economic growth worldwide in 2020, Papua New Guinea’s industrial sector can expect some headwinds; however, growth is forecast to return in 2021. The authorities hope the industrial sector can benefit from the rebound and help to improve national self-sufficiency in areas such as food production, while boosting export revenues in the process. Plans to fuel the creation of small and medium-sized enterprises across a wide range of industries also bode well for future expansion. If successful, this should spur the emergence of downstream activities centred around the country’s natural resources. Meanwhile, key players in the retail sector have adapted quickly to meet the challenges presented by the pandemic. In many cases, brands have transitioned from physical stores to online platforms. Supply chains have remained relatively resilient, indicating that the sector can expect to return to the growth trajectory witnessed over recent years, fuelled by urbanisation and a rapidly growing middle class. This chapter contains interviews with James Rice, CEO, Paradise Foods; and Alfred Yau, Director, Papindo.