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Port Moresby
November 22, 2019
News

Malaysia SME Expo

One ofthe biggest delegations of Small & Medium Enterprise owners froPNG leftthe country yesterday for Malaysia.

 

Led bythe Minister for Trade, Commerce &Industry Richard Maru and his vice minister Ronney Knight,the delegation will attend an SME expo.

 

Maru’said it was an opportunity for the business men and women to see howthe SME’sector in Malaysia plays a major role in generating wealth and employment for its citizens.

The delegation consisting over 40 SME owners from arounPNG leftthe country yesterday with Minister Maru, for the expo which will be held in Malaysia fromthe 12th tothe 14th of June.

 

Before departing, Mr. Maru’saidthe trip had been purposely organslied to givethese local business ownersthe opportunity to learn fromtheir Malaysian counterparts on howthey have managed to run successful businesses.

 

Maru’sain PNG has only 49 thousand SME’s inthe formal sector as a result of previous government’s non-commitment to employment creation. New Zealand has 500 thousand SME’s while Malaysia has close to a million SMEs because oftheir recognition oftheir importance.

 

Maru’sain PNG has 2 million unemployed men, women and youths who could be working inthe formal sector, but are notobecausethey have not been supported and invested in. He said radical economic legislative reforms, support structures and investments to growthe SME’sector are needed for the country.

 

The delegation will also visit an industrial zone in Malaysia and see howtheir government designed a concept calledthe Special Economic Zone.

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