Build Youth Business to Address Youth Unemployment Problem

by Delly Waigeno – EMTV News, Port Moresby

There is an urgent need to have strong policies in place to address the wide problem of youth unemployment across the country.

Norit Luio, Director General of the National Youth Development Authority, stressed the need for a major policy framework to counter this growing problem.

He made the comments in an interview with EMTV at the Entrepreneurial Youth Summit today in Port Moresby.

Luio gave a presentation on the National Youth Employment Framework. He said it is a policy document that has been developed after extensive consultation with stakeholders, and following research on the youth employment situation in the country.

He said the framework is in its draft stage, and will be launched next month.

The policy document focuses on seven pillars, including employment creation, soft loan schemes, education and training, youth data and information and collaborating of efforts by all stakeholders amongst others.

Luio said the summit is one of the pillars of the policy document and emphasised that youth entrepreneurship is a viable approach in addressing the youth unemployment situation.

CEO of NDB Investments, Des Yaninen, shared similar sentiments adding that a series of recommendations will be presented to government and other stakeholders about how to remove obstacles that young people face in trying to get into business.

He said the National Development Bank has come up with PNG’s first youth and business scheme, and is looking to pay out over K2 milion in assistance funding to young entrepreneurs in the next few days.

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