4th SME meeting held with PM

The 4th Small and Medium Enterprise breakfast with the Prime Minister James Marape was held today at the APEC Haus, Konedobu.

The theme was Resilience and Rebuilding, and discusses the SME Development and Growth and to raise critical issues around that area.

Michael Koisen, Group CEO for Teacher Savings and Loans Limited, mentioned that our people are not empowered and engaged meaningfully in economic activities, as 40% of our population of our population live below the poverty line.

Koisen said, “More than 85% of the population are engaged in subsistence farming and the non-formal economy. 90% of the wealth of our country is controlled by 2% of large enterprises that are foreign owned”

Small Business interviews like Clark and Tali Piokele spoke about their Pharmaceutical Retail start-up, while President for Milne Bay SME Association, Rhona Conn spoke about her start- up.

United Nations Development Programme Resident Representative, Dirk Wagener, shared that there are about 5, 000 SME in PNG, which contribute to 6% of GDP.

Prime Minister, James Marape acknowledged the SME for the hard work and dedication, and shared that the aim is to have 500, 000 SME’s in PNG.

“Let me say thank you to the SMEs 23% are female run SMES 27% are run by male SMEs, let me set back and say thank you patients perseverance and in our economy. Let me also say thank you to those who are corporate residents of our economy you have played your part to ensure that our country is remains functional,” he concluded.

Author: 
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