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January 16, 2021
Momase News Sport

Lae’s Economic Spike During PNG Games

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by Bethanie Harriman – EM TV, Lae

Lae City is expected to see a drastic boost in its economy during the 6th PNG Games which will kick off in 25 days.

While corporations have packaged marketing deals worth millions of kina, smaller SMEs are expected to rent stalls built at the main venues, a windfall amongst millions of kina.

It is understood that as athletes and visitors come to Lae, cash flow in the city during the games will climb with more money in the province.

Lae’s Markham Road is going to be one the busiest roads during the PNG Games.

This morning, workers contracted to the Lae City Council were building stalls that will be the selling point for SMEs.

Corporate sponsorship deals packaged to sell the biannual event have already accumulated hundreds of thousands of kina nearing the millions. 

Contractors tasked to build 100 stalls around the PNG Games’ main venues are working around the clock.

It is expected that the stalls will be the busiest and they will be the hubs for the SME windfall.

The stalls are cheap to rent and renters will make a lot of money during the two-week Games period.

The amount of money expected from the event is unknown but the profit forecast looks promising for key stakeholders and those in the informal sector.

Lae City Council members have been inspecting the stalls; the Health Department has been on site to ensure the stalls are up to appropriate standards.

When the PNG Games begin, the Morobe Provincial coffers will be pumped with revenue

“We can all see the value of the Games to Lae, right from the grass roots buai and drink sellers to the largest companies,” said Lae Chamber of Commerce President Alan McLay.

Lae City’s growth is a result of its connections to the country’s major port and the national highway.

Where hard cash is more visible to the residents, it is left to money-making events used by buai sellers, cold drink sellers and smaller merchants to make a significant amount of money.

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