Call to reserve small businesses for locals

THERE is no other way to take back the economy if some businesses are not reserved for Papua New Guineans, National Planning Minister Richard Maru said.
Speaking during debate time in Parliament on Friday, that Parliament needed to enact all businesses laws relating to those being reserved for indigenous people which is in line with the government’s vision to regain control of the economy.
He said currently, 90 per cent of businesses were owned by foreigners and that included small businesses that should be reserved for Papua New Guineans.
“There is no way we can start to take back PNG if we don’t enact legislation what types of businesses and level of investments that must be restricted to Papua New Guineans,” he said.
“The previous government has already done that by approving the legislations to come to Parliament but it’s being delayed.
“We need to bring this particular legislation to Parliament now.
“It is as simple as this, if you want to grow into a big business in the future, you have to start small.
“Papua New Guineans needs a reserved space, or what is called an incubation space, for their companies to start up and grow.
“If we don’t bring the reserved list now in this term of Parliament when we have the political will then it will only be a talk. I want to tell this Parliament and plead with the prime minister that this legislation needs to come to the floor of Parliament.
“We must reserve businesses exclusively for Papua New Guinea companies.
“The prime minister said small businesses, including security business, should be reserved for Papua New Guineans, and that is a very good statement.
“We now need to lock that through legislation and reserve those businesses for our citizens.
“That must be down by legislation and not by policies because so many of people compromise too much so it will not happen unless you lock it in by law.” Maru said in other countries, there was an institution called the foreign investment review board, that institution screened applications by foreigners that wanted to do businesses in the country.
“They choose which ones come. We are the only country in the world where we have an open door policy,” he said.
“The foreigners are going all over Papua New Guinea, into the rural areas and the settlement to do trade stores but we allow these practices to go on, this must stop.
“If we want to take back PNG then we start with legislating them and take back the businesses our people can do.”