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Port Moresby
October 23, 2021
Business News

Minister Maru on SME Master Plan

Minister for Commerce andIndustry Richard Maru’says 90 percent ofthe economy is controlled by foreigners and this must be changed by drivingthe SME Sector forward.

 

Minister Maru and his delegates was in Mt Hagen to gaugethe views and ideas of local businesses to put in placethe SME Master Plan 2014- 2030.

Among his delegation includedtheLands Minister Benny Allan, local MP’s from Western Highlands Province and Jiwaka Governor, Dr. William Tongamp.

 

thers included local businessmen and women in Mt Hagen, Simbu, Jiwaka, Southern Highlands, Hela and Enga, as well as aspiring ones.

 

They listened in attentively as Minister Maru toldthem aboutthe importance of SME’s and how it has changed lives in countries that have grownthe SME Sector.

 

&ldquoIn New Zealand,there is no gold mine, no oil, no gas reserves,they have no resources like we Papua New Guineas have. Betthey have an economy that is ten times bigger than Papua New Guinea” said Minister Maru.
 

Currently in Papua New Guineathere are only 49, 500 Small to Medium Enterprise companies. Mr. Maru’said some ofthe country’s Medium Term Development Goals can only be achieved, if more emphasis is given on developingthe SME Sector.

 

Discussions fromthe workshop held at Highlander Hotel will be compiled to formulatethPNG SME Policy and Master Plan. It will be finalised and presented to cabinet bythe end of this year.

https://youtube.com/watch?v=eZC0WIFjftA%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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