Planning Minister Charles Abel says an ongoing push for more Papua New Guinea business ownership reflects a growing trend among younger members of parliament.
Speaking in an interview with EMTV’s Lae Bereau, Charles Abel, said Papua New Guinea business have to be given a protective barrier to allowthem to grow and mature.
The Papua New Guineaeconomy is growing in an unprecedented rate.
According tothe Finance DepartmentoGDP growth rate currently stands at just over five percent.
It is a far cry fromthe decade of slow growth inthe 1990’s marked by low unemployment and financial difficulties.
Today,the country’s annual budget stands at K13 billion. While it’sounds really good, it poses major challenges for the government.
Atthe top ofthe list of priorities is how we spend all that money and how to ensure thatthe people benefit from all that wealth.
The Planning Minister Charles Abel says Small and Medium Enterprises and an enabling environment are key elements to success.
Atthe PNC Conventionthe Prime Minister deliveredthe same message, No Handouts – No Free money. Betthe Government has promised access to capital throughthe National Development Bank with loans at six percent interest.
Today’s conference on Small to Medium Enterprises in Madang andthe outcomes of that conference will add to existing Government Reform Packages aimed at making Papua New Guineas gain fromthe wealth that has been seen.