The National Development Bank presented a cheque of K50, 000 as a Silver sponsor towards the National Planning Consultative Summit that will be held in Lae from the 20-22 March 2018 with the theme “Securing our Future through Inclusive Economy.”
National Planning Minister; Hon. Richard Maru acknowledged NDB as being one of the first key partners who have shown support during the cheque presentation held at the Vulipindu Haus at Waigani in Port Moresby recently.
Mr Maru explained that the purpose of the Summit is to have a thorough review of how PNG has developed over the last 43 years using the key development indicators on how the country can perform better in the next few years under the Medium Term Development Plan in which , the economic growth is a key target.
He further explained that the Medium Term Development Plan is not just a government document that will be put together by the National Planning Department but with collective inputs from key partners like the civil society, private sector, public sector, churches, academics and international professionals.
Maru said, “I think it’s time to take a very good stock take of our economy and that is what we want to do, we want National Planning to sit down with other partners to come and say this is our journey and this is how we performed. When we start to compare with other countries in the region we will start to realise, we haven’t performed like other countries.”
Mr Maru emphasized that Medium Development Term Plan is vital for the country as the country is struggling and is facing serious problems with the foreign currencies and growing population that face unemployment challenges.
“Our government is not saying we have done everything right, we also can learn from our mindsight, from our own performance. We want to do better and that’s the thing. By talking to all of us, by taking an honest assessment of ourselves, listening to other friends from around the world, we want to take a stock take, understand where we have come from, why we are here and how we can all do better.” said Maru
The Ministry and the Department of National Planning and Monitoring together with the Morobe government have agreed to be co-host alongside Consultative Implementation & Monitoring Council (CIMC)of the summit.
NDB Managing Director, Moses Liu expressed being appreciated of summit’s theme with emphasis on a broad base economic approach.
Mr Liu said, “NDB believes that SMEs’ do have the potential to actually revolutionize businesses “
“Western economies today grew from very strong SMEs’ in their own countries, therefore we at NDB believe that PNG has the potential to do that, all the stakeholders could sit down to map the way forward on how the whole economy should be growing towards the common goal of our economic growth in this country.” stated Liu.
Liu elaborated that NDB showed support because the Bank found itself as being in a comparable position particularly with the National Planning department.
He expressed that, it is a challenge in itself to gather all stakeholders however it will also be an opportunity to address the growth of the economy and that NDB is appreciative of the plan and will be showing its continued support as a way forward.
Also present at the conference was Sectary for the Department of National Planning & Monitoring, Hakaua Harry and Deputy Executive Officer/Senior Communications Officer of CIMC, Henry Yamo and other departmental delegates.
NDB Managing Director Moses Liu, Department of National Planning & Monitoring Minister Richard Maru & Secretary Hakaua Harry