MAY 31 2022
PRIME Minister Hon. James Marape has commended Eliseo Limited CEO Zovin Yan on the opening of his new supermarket in Gerehu this week, while thanking the owners for their confidence in investing in a suburb of Port Moresby.
The Prime Minister also commended the owners of Rangewiew Plaza – Port Moresby’s newest shopping mall that also opened recently – as well as a group of women who banded together to open and operate the Unity Mall in Waigani, Port Moresby, on their venture into business.
The Prime Minister said even despite the hard times of 2020, 2021 and 2022, it was heartening to see businesses operate in the country with the opening of these shops and shopping malls.
“These are indications that Papua New Guineans and our economy – despite the headline perceptions that we are not a good place of investment – are benefiting from the Government’s effective spinning of money into the local economy.
“In the last three years, the government under my watch, spun some K56 billion into the economy. To see these sorts of investments at the local level is heartwarming. I commend those who choose to invest in our country.
“There is every potential for this country to get richer, better and wealthier which are as we are forecasting as we Take Back PNG and put more into our economy. Our country will continue to grow,” said PM Marape.
The Prime Minister urged investors like Eliseo Limited to continue investing and to expand their investments.
“We have Special Economic Zones with special tax incentives, incentives to give by way of government policy. We are putting in the programs to assist local businesses grow.
“To open the newspaper this morning and read that a shop has opened in Rainbow (Gerehu) is an indication that people have confidence in the economy and are doing business.”
The Prime Minister said the Pangu-led Government has invested money in the SME support program through National Development Bank and Bank South Pacific while Kina Bank was also assisting the program.
“Let us us get out there, find a business whether it is in agriculture, retail, service station, shops or workshops. Papua New Guineans must find their pathway into doing business in the country.
“For those who already have a start-up in business, when we come back into office, we will put a special fund for those already in business who want to go the next mile. The Government will put a specific fund to assist expand these businesses.”
The Prime Minister said his Government has invested K200 million every year over the last three years to support SME growth and was now planning on expanding this policy to have separate allocations to cover ‘start-ups’, agriculture, as well as continuing SME businesses who want to expand further.
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