SMEs see interim ban on visa applications helpful

THE Small to Medium Enterprises (SME) Corporation  has welcomed the decision to impose a moratorium on visa applications and extensions for foreigners applying for SME-related activities.
Managing director Steven Maken said the decision by PNG Immigration and Citizenship Authority would support the work undertaken by the entity to implement the new SME policy.
The corporation is the government’s agency mandated to promote the development and growth of small businesses in the country.
It is also responsible for the roll-out of the new SME policy and Master Plan 2016-2030 launched by Prime Minister Peter O’Neill in February.
“As part of our strategy to implement the SME Policy, the reserved business listing is being reviewed and will be finalised soon. They will be presented with the enabling legislation to the NEC and Parliament,” Maken said.
“Once passed by Parliament we should know which business activities are reserved for nationals only.
“We note this is a delicate matter and needs to be approached carefully.”
He said there should be wider consultation before all aspects were considered.
“However, in the main, there needs to be some reshaping and reconfiguring and we must change the economic landscape of who the business owners are,” he said.
“It will come with some fight to dislodge what is fully entrenched and will have some short-term pain.
“But ultimately, it will yield a lasting benefit for locals.”
Maken said a lot of small business opportunities for citizens were lost to foreigners because there was no clear legal framework to guide and protect local participation in small businesses.
“We are not against foreign investment. They are needed by the country for economic growth and expansion. Large projects and certain industries still require huge capital injection/outlay which SMEs do not have,” he said.