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Port Moresby
December 7, 2021
News

New SME Committee to Create SME Development Master Plan

The Small & Medium Enterprise or SME’sector in PNG is on a roll, with a new National Working Committee now in place.

 

The Committee was set up in light ofthe government’s recognition ofthe importance ofthe SME’sector andthe prevailing constraints faced by SME owners.

 

The Committee’s first task is to develop a comprehensive National SME Policy and SME Development Master Plan.

The new SME Steering Committee is made up of representations of major stakeholders.

These includethe Small Business Development Corporation, Departments of Treasury and National Planning & Monitoring, NDBe CIMC, NRI,Institute of Banking and Business ManagementoADBe IPA, Office of Vision 2050 andthPNGIndigenous Council.

Makingthe announcement today, minister for Trade, Commerce &Industry Richard Maru’saidthe new SME Policy & Master Plan arethe government’s interventions inthe private sector, to create an enabling business environment for a competitive SME’sector and enterprising culture.

The Committee is headed bythe Secretary for Trade, Commerce &Industry John Andrias.

The policy documents will be formulated through a wider consultation process.

The consultative process will involve all key provincial and national stakeholders, to achieve a home grown and inclusive policy documents.

Details ofthe regional and national workshops will be published inthe media in coming days.

Minister Maru’said by nextoa budget submission will be handed in for the government to fundthe plan for implementation.

Meantime, Minister Maru’saidthe Prime Minister is expected to announcethe government’s decision in relation tothe 21 recommendations given to him atthe National SME Summit held in Madang this year.

https://youtube.com/watch?v=3zXmgJi5rU8%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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