Franchise to promote scheme

 THE National Development Bank Investments Ltd (NDBIL) is planning to partner with an Australian chain store franchise to roll out the Stret Pasin Business Scheme in the country, chief executive officer Desmond Yaninen said.

The franchise, NightOwl Convenience Stores, operates chain stores in Queensland, Australia. 

NDBIL had approached them to establish businesses in the country to help promote local small and medium enterprises (SMEs) through the roll-out of SPBS.

However, they had requested information on the investment environment in the country before they could come in.

“Before they invest in PNG, they wanted some information on the retail industry, some research information. That information is not readily available. You have to go out and physically collect the data yourself.”

A survey was conducted by NDBIL into the retail industry in Port Moresby and Central to come up with the data. 

“We are in the process of writing that up and we’re going to submit that research to Australia.