Papua New Guinea will for the first time play host to the World Indigenous Business Forum (WIBF) this year.
The two-day event is estimated to be hosted at a cost of over K6 million. The National Government has already committed K2 million towards this event.
The Steering Committee for the 2023 WIBF Papua New Guinea is tasked to organize the country’s biggest national event since the APEC meeting in 2018.
On announcing the committee, Minister for International Trade and Investment Richard Maru said, “I am looking forward to a committee that will think outside the box, a committee that will work to deliver the best indigenous program ever put together by any country and a committee that will work towards ensuring that.”
“Our objectives of making sure everybody goes away with a clear understanding that we’re an attractive tourist destination, investment destination and we have businesses who are ready to trade and export and do business with the world and we have indigenous business partners who are ready to partner their colleagues in other indigenous nations from across the world.”
Minister Maru says the Committee’s main task is to ensure that the event showcases Papua New Guinea as an investment and tourism destination.
The event will provide local MSMEs the opportunity to showcase their products, services and businesses. The Ministry hopes to connect local businesses with international markets and collaborations for trade.
Maru adds, “It will only happen if there is teamwork, cooperation.”
He says the committee will work towards securing the support of the government, Prime Minister, and fellow ministers, key stakeholders including the private sector and local MSMEs in a timely manner.
He further added, “Our own MSMEs who must take ownership, be there and drive this. And benefit from the unique opportunity that this summit will create and provide.”
It is expected that the WIBF will generate US$5 million in terms of foreign exchange earnings from international delegates coming into PNG, that is over K16 million.