Representatives from the Private Sector gathered today for the annual Prime Minister’s Back To Business Breakfast.
This year, the first for James Marape as Prime Minister.
The Business Council, through its President, Nuni Kulu, not wasting any time, affirming their commitment and support towards several initiatives by government, including the reform of State-Owned Enterprises, ICT development, Access to more affordable Energy initiatives, as well as efforts to improving the ease of doing business in PNG.
The occasion also saw Kina Bank provide its outlook for this year – a rather challenging year ahead – according to Kina Bank CEO Greg Pawson.
Delays in the progress of several major resource projects remain a concern for business – especially as these projects look to spur on growth in an already challenging economic environment.
Whilst Prime Minister Marape acknowledge the concerns of the business community, he also reaffirmed his government’s commitment to ensuring that negotiations and decisions on major projects would follow proper protocols – this to ensure that PNG receives maximum benefits, something which the Prime Minister was paramount.
The Prime Minister did however moot the idea of awarding tax holidays for foreign businesses who choose to invest in PNG’s Human Resource.
By Meriba Tulo, EMTV News, Port Moresby