Lack of skills a challenge: Fiocco


Skills shortage is one of the challenges that business houses face, says Port Moresby Chamber of Commerce and Industry president Rio Fiocco, pictured,.
“We still have a major skill shortage problem in businesses like accountants, lawyers, engineers,” he said.
“We need to train more.”
Fiocco said the universities were doing a great job, given the limited amount of resources in terms of funding that they were getting from Government.
“They are doing a very good job,” he said.
“Of course, if they have more funding, they could partner with more international universities and invite guest lecturers from overseas.
“Overall, I don’t think universities are the problem.
“We just don’t have enough spaces for students in universities.”
Fiocco said companies had vacancies but it was a small pool requiring skilled and qualified people to fill in vacancies.
“We probably need more agricultural and technical colleges so we produce more mechanics, more carpenters, or more skilled electricians so they can start up their own businesses,” he said.
“That’s how you get the small-to-medium enterprises (SME) going.”
Fiocco said another major challenge for businesses last year was access to foreign exchange.
“The government has solved that issue by bringing in the sovereign bond in the last quarter of last year,” he said.
Fiocco said another challenge was the ongoing law-and-order issue.
“Businesses that are here are used to it and are always dealing with it,” he said.
“The Government is trying to improve this situation but a lot more needs to be done.”