Industry

A series of significant mineral finds in Papua New Guinea (PNG) have highlighted the role exports are set to play in the nation’s economic future. However, there have been calls from industry players and opposition officials asking the government to do more to ensure revenues stay in the country.

While a large number of free zones have been established in Nigeria since the 1990s, offering a host of encouraging regulatory and fiscal incentives and bringing in billions in direct investment, many of them have yet to reach their full potential, with operators continuing to face some broader challenges, including infrastructural bottlenecks.

The industrial sector in Ras Al Khaimah (RAK) has continued post significant growth in recent years, thanks to a favourable business environment and prudent regulation.

The Sultanate’s policy to promote industry as a means of diversifying the economy is starting to produce the dividends the government had in mind when it established the programme on industrialisation, though it still has some way to go before achieving all its objectives.

Rising revenues and job creation, backed by new investments, are currently highlighting the surging growth in the Philippines’ business process outsourcing (BPO) segment.

Healthy growth in non-mining-related sectors of Mongolia’s economy and progress in plans for a multi-billion dollar industrial complex suggest the industry sector is on track towards contributing to the country’s goal of economic diversification.