The country’s first SME policy is protectionist: NRI

The country’s recently launched Small and Medium Enterprises (SME) Policy will scare away foreign investment.

That is the warning from the country’s think tank, the National Research Institute (NRI) Director Dr Charles Yala.

Launched in February, this is the first blue print endorsed by the National Government to grow the sector to 500,000 small businesses by the year 2030.   

 “SME Policy is wrongly articulating Papua New Guinea business development with protectionist policies,” Dr Yala said.

“That is going to kill foreign investment in the country.

“It’s anti-foreign, discriminatory, it’s very contradicting because in one hand we are promoting APEC. This is sending a wrong signal to the international community.

“We may have the land, we may have the ideas, somebody else has the money and skills, the SME Policy is not right,” Dr Yala said. 

He added that NRI is reviewing the policy and will make an announcement of its finding in the coming months. 

Charles Yapumi