Call for business ministry

National, Normal


THE National Development Bank (NDB) will be pushing for the National Government and provincial governments to introduce a ministry for small indigenous businesses, NDB managing director Richard Maru said.
“This is to facilitate Papua New Guinea’s Vision 2050.
“We need to change that from being dominated by foreigners,” he said.
Speaking at a dinner in Kokopo on Monday, he said this was something NDB was pushing.
“It is time for provinces and the National Government to be consistent with a strategic plan and have a ministry in place for small businesses,” he said.
NDB believes if the country was going to change in the next 40 years, this must be led by a minister in each respective provincial executive council (PEC).
“We are looking for leadership in this area,” Mr Maru said.
NDB recommended   that the East New Britain provincial government should seriously consider designing a ministry for small businesses in its PEC.
Mr Maru said the job of the ministry would be to put together submissions for preferences, incentives, and allowances to be made to PNG businesses, including grants to those who perform well.
“We need to give recognition to local business entrepreneurs who have been competing with foreigners,” he said.