Supporting MSMEs seen as key to economic, social growth

THE Government must invest in the micro, small and medium enterprises (MSME) sector to mitigate civil disorder and crime in the country, says MSME Council founder James Gore.
“The MSME sector serves as the conduit through which the wealth generated from Gross Domestic Product (GDP) growth trickles down to the ordinary citizens, particularly at the grassroots level,” Gore said.
“While GDP growth might be an abstract concept for many, the MSME sector ensures that Papua New Guineans not only benefit from economic prosperity but also retain, own, and control the wealth created by this growth.”
He said the recent ugly events such as the Jan 10 civil unrest and the alarming increase in crime rates, highlighted the urgent need for strategic support and focus on the MSME sector.
“It is imperative for the Government to recognise the intrinsic link between a thriving MSME sector and social stability.
“By investing in and supporting MSMEs, the Government can empower local entrepreneurs, create sustainable livelihoods, and foster economic resilience within communities. This, in turn, can help mitigate the recurrence of civil disorder.
“We call on the Government to prioritise the development of policies, programmes, and initiatives that promote the growth of the MSME sector. By providing targeted support, access to finance, training, and market opportunities, the Government can unlock the full potential of MSMEs as engines of growth and drivers of social cohesion.
“As we navigate the challenges facing PNG, let us collectively recognise the pivotal role of the MSME sector in safeguarding our economy, empowering our citizens, and building a more prosperous future for all. Together, we can harness the transformative power of MSMEs to create a more equitable and secure society for generations to come.”