by Colleen Barilae – EM TV News, Lae
Rural districts in Papua New Guinea have been slowly opening up for business developmen’s in sectors that include agriculture.
The Yangoru- Saussia District Authority in the East Sepik has created credit schemes for its people to get bank loans and build businesses.
The businesses should grow through means of agricultural developmen’s that will be happening on the Sepik Plains.
The rural district in the East Sepik Province has begun a credit scheme with a commercial bank to help its people start businesses.
The credit scheme is with the people’s Micro Finance Bank.
It enables the people to get loans as the district authority has paid a five hundred thousand kina security deposit.
Trade, Commerce and Industry Minister, Richard Maru, said the people must own businesses in his local electorate.
Eighty per cent of the businesses in the country have been owned by foreigners.
Minister Maru said that trend has to change.
It is a move that capitalises on the prospects of agricultural developmen’s happening on the Sepik Plain that is aimed at simulating economic growth in the district.
Serious businessmen and women have been given the opportunity to start small businesses and this has been supported by the capital that has been provided by the district.