Expect more reforms to improve private sector: Govt

By MATTHEW VARI

Sunday, November 06, 2016 (Sunday Chronicle, PNG)

 

IN its aim to promote progress in the private sector- the government has indicated new reforms into next year following improvement in the country’s ranking in terms of ease of doing business by the World Bank.

Secretary Treasury Dairi Vele, highlighted key areas that government will focus on to improve the country’s placing in the eyes of the business world from its 119th move up.

“PNG has made great strides in improving the business environment and the World Bank , ease of doing business report 2017, indicates a market improvement from Papua New Guinea from 154th place last year to 119 this year,” Secretary Vele said.

“We expect this to improve further when we bring a fresh round of reforms in 2017.”

“Government will focus on improving access to markets and credit, expanding and enhancing financial services, removing impediments to competition, and we expect our state owned enterprises will drive shareholder value by strengthening corporate governance and accountability and delivering affordable and reliable service and paying dividend.”

He also indicated the utilization of the new Public Private Partnership framework to pursue the appropriate mechanisms to attract private sector expertise, private sector technology, private sector resources, and private sector capital into service delivery.