Paradise Foods limited, one of the oldest manufacturing companies in Papua New Guinea celebrated its 90th anniversary of operation since 1933.
Prime Minister James Marape while speaking at the company’s 90th Anniversary celebratory dinner in Port Moresby, commended Paradise Foods Limited (PFL) for successfully contributing to the country’s economy for 90 years and described it as the “perfect example” of small business growth in Papua New Guinea.
The Prime Minister said this while thanking board chairman, Anthony Smare, for leading the food manufacturing company from less than K100 million in 2018 to a K500 million turn-over company four years later.
“It is indeed special when a company’s existence pre-dates the Independence of our country, and even more so when the company – begun by two expatriates – is now 100 percent owned by Papua New Guineans. This is why I am very proud to be here with all of you, celebrating this moment,” Prime Minister said.
“Paradise Foods Limited is the perfect example of what we would like businesses to become in Papua New Guinea, growing from a small bakery into a multi-million kina company and supporting our economy.”
Prime Minister Marape reiterated the value of expanding the manufacturing sector and supporting downstream processing and import replacement.
“The Government would like to diversify our investments and expand our attention beyond the Mining and Oil & Gas sectors, to the renewable sectors in a much bigger way.
“Agriculture, Forestry and Fisheries must be developed to their fullest. And out of these, industrialization must spring forth.
“We need to seriously expand our industries. The manufacturing sector must grow exponentially – much, much bigger than what it is today. Papua New Guinea must get into downstream processing its natural resources so it can begin its phase of industrialization. Only industrialization can truly take PNG into its aspired state of development and anchor the country in economic stability.
“Our Agriculture, Forestry and Fisheries resources are waiting to be processed in-country. We must seriously change the narrative of development, with a paradigm shift in how we view the export/import market scenario.
“Let me remind us again that our domestic market is over 12 million people, our Asia-Pacific market for export is over four billion people, and our global reach to Europe and Middle East is endless for the export of our products.
“For 90 years straight, Paradise Foods Limited has led the way, and successfully demonstrated that it is not impossible to set up factories and process things in PNG,” he said.
PM Marape pointed to the current government focus on SME development and encouraged Papua New Guineans to look at PFL as an example of how to grow small businesses into a big one.
The Prime Minister concluded that Paradise Foods Ltd was “Bold and punching above its weight”, as proclaimed in its Key Statements.
“Our Government will provide special incentives to companies like yours in the manufacturing sector who are with PNG for the long haul,” he said.
