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May 18, 2021
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The government is expected to announcethe creation of a council that will governthe establishment and promotion of small to medium enterprises.

The council will be chaired bythe Prime Minister and a special legislation will be passed to ensure that.

The Council will among ther things focus onthe promotion of SME’s and engaging with ther partners inthe development of SME’s in Papua New Guinea

One ofthe pitfalls that have been highlighted inthe summit isthe inadequate monitoring andthe availability of research on Small to Medium Enterprises. The concerns were raised by both government representatives and members ofthe private sector.

Much ofthe research responsibility lies withthe National ResearchInstitute butthe organization hasn’t hadthe opportunity to take an in-depth look atthe sector.

The government will also be creating a research body withinthe NRI to gther data and monitorthe progress of SME’s.

Overthe last two daysthe forum has been drawing on Malaysian examples where forty years agothe government made a conscious decision to provide credit and support SME’s.

The Planning Minister Charles Abel also made an announcement of a body that will support SME’s in Papua New Guinea It will mirror aspects ofthe Malaysian example.

Bet while much ofthe talk in Madang has been very positive, potential SME’s in rural Papua New Guineawill continue to face problems with poor transport infrastructure andthe lack of government’support.

https://youtube.com/watch?v=uftmMvHp8gc%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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