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PM Wale: Indigenous business must be at the heart of investment

By Fredrick Kusu

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Prime Minister Mathew Wale and PNG Prime Minister James Marape

Prime Minister Hon. Matthew Wale says indigenous businesses, women-led enterprises and young entrepreneurs must be at the heart of the growing economic partnership between Solomon Islands and Papua New Guinea.

Addressing the inaugural PNG–Solomon Islands Investment Conference at the Heritage Park Hotel today, Prime Minister Wale said the benefits of investment must not be confined to urban centres or large corporations.

“Indigenous entrepreneurship is not a footnote to this conference, it is the point of it,” he said.

The Prime Minister said PNG companies should build partnerships with Solomon Islands businesses rather than simply operate alongside them.

He identified joint ventures, local supply contracts, technical training and pathways to local ownership as important features that should become normal parts of major investments.

Prime Minister Wale said indigenous Micro, Small and Medium Enterprises (MSMEs), women-led enterprises and young entrepreneurs are the backbone of both economies because they create jobs, support families and keep wealth circulating within communities.

“Inclusive growth is not only socially responsible; it is smart economics,” he said.

The Prime Minister said economies where more people participate are stronger, more resilient and more sustainable.

He also linked inclusive economic growth to stability, saying every young person employed, indigenous business capitalised and community with a stake in growth contributes to a stronger foundation for peace and prosperity.

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OPMC statement

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