A steel will to grow market share
Adapting to different economic conditions is the key to manufacturing in Papua New Guinea, says Frank McQuoid, chairman of steel fabricator, Steel Industries.
He says the PNG metal trades industry has about 20 per cent of the domestic market and there is great potential for this proportion to rise.
“If we can get a bigger chunk of the market there is an opportunity, without any growth whatsoever, to be five times as large as we are now.”
McQuoid says that even on a more modest scenario, 10–15 per cent growth is feasible.
McQuoid says the sector is burgeoning. “You can stand at the airport and look out and you can see a whole new city out there: 5000 new houses.”
He says he is hopeful that the government will look to protect the sector. He says being a local manufacturer has advantages in an environment where foreign exchange can be hard to get.
“They know when they come to our company they can pay for their product in PNG kina.
“Every day I go to the shop floor I am proud of what we can do. We can do it, we have done it, we are doing it. We are making a competitive product to international standards and we are doing it with Papua New Guineans. I am proud to achieve it in my life time.”