AGRICULTURE
ECONOMIC UPDATE
Women in the Markham and Ramu could benefit from the proposed IFC model.
New agriculture corridor promises jobs & growth The results of a scoping study of the Markham and Ramu valleys are helping to develop a win–win business model for investors and customary landowners. By Gabriella Munoz About 80 per cent of land in the fertile Markham and Ramu valleys in northern Papua New Guinea could be used for agricultural development but so far it remains intact. Why is this so? ‘It’s clear when you talk to the people that there are challenges, the biggest of which seems to be land ownership. But there are other issues, such as infrastructure and farmers gaining access to inputs,’ Christian Reichel, International Finance Corporation (IFC)’s Operations Officer in Port Moresby tells Business Advantage PNG. ‘When you consider the growth in population in PNG and the demand growth in Asia, it’s clear we need to understand how we can support farmers, manufacturers and exporters to seize these opportunities.’
PHOTO: IFC
The IFC partnered with the PNG Government’s Grow PNG program, with further support from the Australian and New Zealand governments, to deliver a study of the agricultural potential of the Markham and Ramu valleys and to create development scenarios for landowners and investors. As part of the study, the IFC and its partners looked at land ownership, soil types, crop suitability and access to necessary resources, as well as historical, current and planned economic activities. ‘Potential investors have access to relevant information in one stop, so they can decide if it’s worth spending more time in developing business and investment plans,’ says Reichel.
Farm management One recommendation of the IFC’s study is to create a farm management services company. Its aim would be to offer advice on good agricultural practices, farm management and farm inputs (such as fertilisers, chemicals and equipment, especially tractors). The service company would help farmers develop the
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