THE Department and Ministry of Commerce and Industry has celebrated the launch of several key initiatives, including two major planning documents and the department’s new official website, at the Dynasty Restaurant in Port Moresby.
The event also marked the introduction of the Department’s Newsletter and ten internal administrative policies.
During the gathering, dummy copies of the Ministry of Commerce and Industry’s Economic Sub-Sector Plan 2023 – 2027 and the Department’s Corporate Plan 2024 – 2027 were distributed to attendees, including representatives from various commercial statutory authorities.
Agencies present included the Investment Promotion Authority (IPA), Small Medium Enterprise Corporation (SMEC), National Institute of Standards and Industrial Technology (NISIT), and Industrial Centres Development Corporation (ICDC), as well as officials from the Office of the Chief Secretary to Government, and the Departments of National Planning and Monitoring, Finance, and Treasury.
The Minister for Commerce and Industry, Win Bakri Daki, addressed the importance of these documents in eliminating duplication of priority programmes and projects across the ministry’s key departments and line agencies, an issue that previously arose due to the absence of an economic sub-sector plan.
“This Economic sub-sector plan will serve as a structural framework ensuring proper coordination and direction within the ministry,” Minister Daki stated.
Minister Daki also acknowledged the efforts of former Minister Henry Amuli, Department’s Secretary David Ganaii, and the entire staff for their dedication in compiling this ground-breaking documentation.
The objective of these new strategic documents, according to Minister Daki, is to foster strong business growth and increase investments by enhancing the business environment for commerce and industry development in PNG.
He was particularly pleased with how the plan aligned with national government development frameworks such as the Medium-Term Development Plan four, Vision 2050, the PNG Development Strategic Plan 2010-2030, and international commitments like the United Nations Development Programme (UNDP) Sustainable Development Goals.
Minister Daki also announced a total of K9 million to Department of Commerce’s
Commercial Statutory Authorities and encouraged them to start implementing the sub-
economic plan. The K9 million will be allocated to SMEC (K3 million), IPA (K2 million), NISIT (K2 million and ICDC (K2 million).
Secretary for the Department of Commerce and Industry, David Ganaii, highlighted the significance of these new resources.
“These tools will serve as vital resources to inform and engage stakeholders and the public with the department’s activities,” he said.
He also added that the economic development plan, corporate plan, internal policies, newsletter, and website are critical for providing a roadmap for sustainable growth, improved governance, and increased transparency within the department.
Ganaii reiterated the department’s commitment to fostering a thriving business environment and supporting the growth of key economic sectors in Papua New Guinea, aiming to strengthen the overall economic landscape of the nation.
