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Port Moresby
September 29, 2021
News

Maru on Statutory Commercial Authorities

The Government has instructed that all projects under Commerce andIndustry and its Statutory Commercial Authorities be completed by October this year.

Minister Richard Maru’said he will not tolerate excuses. He made that known duringthe first quarter review of his ministry.

Maru’said boards and managements of all Statutory Commercial Authorities were told to puttheir act togther and deliver specific projects.

The Statutory Commercial Authorities includetheInvestment Promotion Authority,Industrial Centers Development Corporation, Small Business Development Corporation andthe NationalInstitute of Standards &Industrial Technology or NISIT

Projects to be delivered includethe MadangIndustrial Park construction phase,the twelve point Small & Medium Enterprise Stimulus (SME) package among thers.

Meantime, about seventPNG business operators will create history whenthey attendthe annual SMEInnovation Showcase in Malaysia in June to exhibittheir products.

Trade, Commerce &Industry also plans to host National SME Summit to agree to a new National Content Legislation and Business Empowerment Act. The National Content Legislation will include re-introducingthe reserve list of businesses for local companies only andthe establishment of a ForeignInvestment Review Beard.

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