New SME Committee to Create SME Development Master Plan

PORT MORESBY - The Small & Medium Enterprise or SME sector in PNG is on a roll, with a new National Working Committee now in place.

The Committee was set up in light of the government’s recognition of the importance of the SME sector and the prevailing constraints faced by SME owners.

The Committee’s first task is to develop a comprehensive National SME Policy and SME Development Master Plan.

The new SME Steering Committee is made up of representations of major stakeholders.

These include the Small Business Development Corporation, Departments of Treasury and National Planning & Monitoring, NDB, CIMC, NRI, Institute of Banking and Business Management, ADB, IPA, Office of Vision 2050 and the PNG Indigenous Council.

Making the announcement today, minister for Trade, Commerce & Industry Richard Maru said the new SME Policy & Master Plan are the government’s interventions in the private sector, to create an enabling business environment for a competitive SME sector and enterprising culture.

The Committee is headed by the Secretary for Trade, Commerce & Industry John Andrias.

The policy documents will be formulated through a wider consultation process.

The consultative process will involve all key provincial and national stakeholders, to achieve a home grown and inclusive policy documents.

Details of the regional and national workshops will be published in the media in coming days.

Minister Maru said by next, a budget submission will be handed in for the government to fund the plan for implementation.

Meantime, Minister Maru said the Prime Minister is expected to announce the government’s decision in relation to the 21 recommendations given to him at the National SME Summit held in Madang this year. [EMTV]
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