Sir Puka: Govt committed to boost business

THE national government is committed to promote and support business sector in the country by creating environment conducive for investment.
Deputy Prime Minister Sir Puka Temu last Thursday assured investors at the 30th Business Council of PNG annual general meeting that the government was committed to supporting the growth and envelopment of the country’s private sector.
He said the private sector played a significant role as a key partner in contributing to development aspiration by creating employment and improving incomes and standards of living.
Sir Puka said since 2002, the government’s primary task has been to turn the economy around with the aim to increasing investors’ confidence and encouraging private sector growth.
He said these had become evident in the massive PNG liquefied natural gas (LNG) project, the Ramu nickel and cobalt project, the entry of Digicel PNG Ltd and several other notable investments in the country.
Sir Temu stressed that to boost business confidence, and encourage investment and growth in the economy, the government set up a committee with membership comprising key stakeholders, including the private sectors, to address issues focusing on removing barriers to business by improving burdensome regulations that constrains business activities.
Taking on the Vision 2050, Sir Puka noted the agriculture sector alone was expected to create extra 267,400 jobs and generate an additional K7.2 billion for the economy by 2030, while the fisheries sector at current exports stand at K120 million annually.