The Madang SME Summit closed earlier this month with strong sentiments, a deliberate push for protectionist policies to be created especially when 90% ofthe formal sector is under foreign control and ownership.
The summitoled by Minister for Trade, Commerce andIndustry Richard Maru, concluded withthe development ofthe Madang Declaration and Communique. The 21 point recommendation which called for the protection of Papua New Guinea businesses will be handed down tothe floor of parliament for debate.
- more funding allocation and assistance for local Papua New Guinea businesses.
The communique basically seeksthe creation of an “incubating space” for Papua New Guinea SMEs.