"Growing MSMEs is Growing PNG!"
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Our Partners & Stakeholders in Nation Building through MSME development.
Together we can impact the MSME sector
Our Partners in MSME Growth & Development
Highlights
Partnership is key for sharing limited resources to maximize outputs.
Investment Promotion Authority
The Investment Promotion Authority (IPA) is a government agency responsible for promoting and facilitating investment in Papua New Guinea. Its main role is to attract foreign and domestic investment to PNG and provide assistance to investors during the investment process.
Internal Revenue Commision
The Internal Revenue Commission (IRC) is the government body responsible for administering and collecting taxes in Papua New Guinea. Think of the IRC as the organization that ensures the government has enough money to fund essential services like education, healthcare, and infrastructure.
National Development Bank
The National Development Bank is the successor company to the former Rural Development Bank Limited. Founded in 1967 its primary function is to provide accessible development credit to citizens to engage in income generation to improve the quality of lives of our people especially the people in the rural areas where 80 percent of our people live
National Institute of Standards & Industrial Technology
Being an Act to establish the National Institute of Standards and Industrial Technology, to provide for the establishment and use of uniform measurement and technical standards or integrated standardization for the promotion and undertaking of technology development, and to provide for matters incidental to or connected with those purposes and for related purposes.
Credit Guarantee Corporation (CGC)
The Credit Guarantee Corporation Limited (CGC) was established on January 5, 2022, to provide guarantee services to eligible SMEs to access credit from licensed financial institution. CGC also aims to provide broader access to finance to SMEs through the implementation of financial technology and the establishment of strategic partnerships.
Department of Commerce & Industry
The Department of Commerce and Industry in Papua New Guinea is tasked with promoting sustainable economic growth by fostering investment in renewable resources and enhancing the nation's international trade competitiveness. Its key responsibilities include: The department's mission aligns with Papua New Guinea's Vision 2050, aiming for inclusive economic growth and poverty alleviation.
Together we can impact MSME sector
Partnership & Promotional Programs for MSME Development
Highlights
Partnership is key for sharing limited resources to maximize outputs.
SME Breakfast With Prime Minister
SME Breakfast is an annual forum that aims to engage the Prime Minister with the private sector regarding the MSME sector in PNG. The event, endorsed by SME Corporation, brings together various stakeholders such as development agencies, NGOs, foreign governments, and government agencies to discuss how to address issues within the MSME sector. The PM uses this platform to affirm the government’s focus and direction for the sector.
The 2023 SME Breakfast focused on the Tourism industry and Manus Province, highlighting SMEs from the Koairi-Hiri electorate and New Ireland. During the event, the Hon. Prime Minister pledged K1 million towards business incubation plans for Manus Province. Each year, the event revolves around a specific theme; the previous year’s theme was the Agriculture and Tourism Sector. It provided a valuable opportunity for MSMEs from Manus, New Ireland, and the Hiri Kioari District to showcase their offerings and growth potential. The selection of MSME participants in the 2023 event will influence the direction of the 2024 event.
SME Awards
SME Award is one of the MSME sector programs that has been delivered once a year since 2021, to recognize and promote formal and hardworking, successful, and productive MSMEs from various sectors and industries that meet the criteria under 18 categories including the winner, 1st runner-up, and 2nd runner up. These different award categories were sponsored by various organizations, both private and public, in PNG. SME Corporation was the inaugural sponsor of the 2nd runner-up with
K10,000. The funding commitment is the same for every year, but in 2024, SME Corporation plans to increase the sponsorship package to cover other categories that are left out. SME Corporation provided a speech for both the Prime Minister and the Minister for Commerce and Industry.
The SME Award provided an avenue for interactive discussions with key stakeholders, partners, and government agencies, on the progress of the MSME sector, in terms of the impact of current MSME sector programs, and areas for improvement.
Local Engagement
Partnership is key for sharing limited resources to maximize outputs. The partnership will result in both short and long-term impacts in terms of entrepreneurship culture building, prudent management oi resources, employment generation, and rural livelihoods for the bulk of the population. SME Corporation’s primary development mandate is to foster the growth of MSMEs across all sectors and industries in PNG. This includes the cottage industries, small-scale manufacturing, and the adoption of
appropriate technologies along with the transfer of technical skills amongst others. SME Corporation provides technical and, to a limited extent, financial support to individuals or communities engaging in MSME activities that show higher potential to diversify the country’s economic base. These endeavours aim to establish pioneering industries capable of sustaining and bolstering PNG’s economy in the years ahead. Furthermore, such industries have the potential to promote domestic production and decrease our dependency on import.
Memorandum of Agreement
Between Jiwak Provincial Government and SME Corporation for the joint development of Highlands Regional MSMEBusiness Incubation Centre in Minj, Jiwaka Province
Memorandum of Understanding
Between West New Britian Provincial Government and SME Corporation for the Joint Commissioning and Management of NGI Business Incubation Centre in Kimbe WNP.
Memorandum of Understanding
Between SME Corporation and Save the Children to develop youth entrepreneuship development programs to encourage and support youth venture into MSME sector
Memorandum of Understanding
CUFA Limited and SME Corporation for partnering and collaborating on economic development projects and/or business development and relating to supporting micro, small and medium
Memorandum of Understanding
Between SME Corporation and Tambul Nebilyer District Development Authority and the office of the member for Tambul-Nebilyer District
Momerandum of Understanding
Between SME Corporation and Reformation Ministries and Churches Network Inc for SME development through the delivery of training and capacity building for Church Leaders and Members
Memorandum of Understanding
Between SME Corporation and National Youth Development Authority of Papua New Guinea to promote and empower youth entrepreneurial development in PNG
Momerandum of Understanding
Between SME Corporation and Imbonggu District Development Authority on delivery of Entrepreneuship Training and the provision of business development services
Momerandum of Understanding
Between SME Corporation and