3 November 2023 – This week marked the start of Kiribati’s journey in the development of its first industrial policy. This follows the adoption of the Kiribati 20-Year Vision 2016-2036, or KV20, recognizing the role of developing key priority sectors to tackle socio-economic challenges and drive sustainable growth and advance development goals.
The Kiribati Industrial Policy aims to serve as a comprehensive, whole-of-economy strategy, setting out sectoral pathways to achieve economic growth and development objectives. This is particularly crucial for small island developing state (SIDS) like Kiribati, whose socio-economic development trajectory is influenced by its geographical remoteness and geological made-up, with small and highly dispersed population across 21 inhabited islands. Impact of unusual changes in climate and unexpected global events has also exacerbated the risks and challenges Kiribati faces to accelerate sustainable development.
In ensuring an inclusive process, an inception session to introduce the development of the Kiribati Industrial Policy was held 1 November 2023, with follow-up bilateral consultations over the following days, as part of the early stakeholder engagement efforts.
The Kiribati Industrial Policy will be developed by the Ministry of Tourism, Commerce, Industry and Cooperative (MTCIC) oversee the development of the Kiribati Industrial Policy the next 12 months, with the technical support from the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).