The government will provide security funds and create business incentives like tax breaks in special economic zones to encourage businesses to grow in 2020.
Over K200 million every year will be allocated in the National Budget to ensure local businesses have low cost loan financing facilities to grow their businesses.
Prime Minister James Marape said this at PANGU Pati’s gala dinner at Hilton Hotel recently.
He said PANGU Pati is all about economic independence, and will look into creating legislative and budgetary pathways for citizens and corporate friends to be empowered to do business.
In pursuit to grow the local businesses in the country, the government will ensure every business has a fair playing field.
Prime Minister Marape said the government will use 2020 and future budgets as a tool to grow and diversify local businesses.
(Article by Albert Moses – third year UPNG Journalism student)