Business News

National Youth Summit on Developing Young Entreprenuers

There will be a National Youth SME Summit staged in Lae, Morobe Province this year. The Summit will include successful youth entrepreneurs from abroad who will address youths.

Youths all over PNG are expected to attend in numbers.

Law and Order problems and High Unemployment Rate are amongst other issues faced by youths around PNG.

However National Youth Commissioner (NYC), Norit Luio says, the emerging economic pathway for PNG has options of resolving these bad trends.

The first step taken by NYC is the review and development of its policies through Youth Friendly Centres.

PNG’s unemployment rate is at 2.3 % with a growing percentage of 0.5 every year.

Mr Luio says, this has seen only 10,000 students securing places in higher institutions out of the 80,000 who pass out every year through the formal education system.

NYC is targeting the 70,000 who are left out on the streets.

Commissioner Luio says, a key area in driving the newly youth act is the youth entrepreneur development: A Business-Like structure for youths to be involved in contributing to PNG’s economy.

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