Vanuatu Government has awarded VT38 million to 20 local manufacturing businesses through the Industry Support Fund 2024.

Betsy Charlie, Manager of Value Chain Research and Innovation, said the government recognizes the potential of both men and women in the sector to drive meaningful change in their communities and contribute to national economic growth.

“Most of the support is aimed at helping these businesses continue their operations. This includes providing packages, processing equipment, or establishing small processing facilities to boost production and meet market demands,” she explained.

A total of 92 applicants submitted proposals requesting more than VT600 million in funding. However, due to limited resources, only 20 businesses were selected through a rigorous screening process.

Charlie further stated that each recipient signed an agreement with the government, outlining specific terms and conditions they must comply with.

“The agreement binds the beneficiary to the support provided by the government. It contains clear terms and conditions that must be followed. Every year, our team monitors and verifies the progress of these businesses to ensure the support is being used effectively,” she said.