PNG shoos in China's shoe king
Chinese footwear entrepreneur Wilson Xue is investing US$27 million in a footwear manufacturing facility in Port Moresby. His company, Auspect, exports millions of pairs of shoes around the world and has its own retail chain in several countries including Australia, where it has stores in Sydney, Melboune and Brisbane. <!--more-->
But the shoes all come from his factories in China.
This is Auspect’s first manufacturing investment in the Pacific Islands. Speaking to the media during last week’s joint announcement with PNG Commerce and Industry Minister Gabriel Kapris, Mr Xue said he believed PNG had the potential to become “a rich country” because of its natural resources.
Auspect’s Port Moresby factory will employ some 300 locals and, according to the minister, the company plans to run training programmes for local entrepreneurs to set up SMEs that will be part of the company’s local supply chain.
A part of its production will also be exported across the region and beyond.