Business PNG Episode – 6, 2014

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In this episode:

 

Papua New Guinea has a valuable and extensive fisheries sector, ranging from inland river fisheries, aquaculture, coastal beche-de-mer and reef fisheries to the prawn trawl and large-scale deepwater tuna fisheries.

 

 

There is significant potential to increase the economic value and returns to PNG of these fisheries through better management and development programmes.

 

Featuring the fisheries sector, this episode covers the Government’s approach to encourage the growth of SMEs in the sector. The National Fisheries Authority enabled a new credit facility earlier this month for village-based fishing groups to obtain loans and engage in commercial fishing.

 

The fisheries sector is a renewable one and shows great potential in becoming a key driver of PNG’s economy. With some of the programmes that have been initiated for the sector, such as the encouragement of SMEs, and with the country’s rich and large Exclusive Economic Zone, the future looks bright.

 

The episode also looks at PNG’s Minimum Wage. With business activities booming in the country, employment is simultaneously on the rise. But while employment can be seen as a wonderful opportunity by many of those employed, some are unhappy with their conditions of employment, particularly wages.

 

PNG’s Minimum Wage has long been debated over the years with changes unfolding gradually. With the current Minimum Wage Review going on, one can only hope that it swings in the way of fairness for all.

https://youtube.com/watch?v=M5gtT0ZQL34%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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