PAPUA New Guineans have been challenged to work hard to serve the growing market and economy once small businesses are taken back from foreigners, says Prime Minister Peter O’Neill.
He said Government would take back certain businesses to give to locals.
“But when our friends move out, you’ve got to be prepared to work harder because people want shops, people want transport,” O’Neill said.
“We are going to introduce the reserve list so that we encourage you to get into business. It is not easy. “We’re are looking at how we are going to support commodities in agriculture.
“We will introduce price support for all the commodities.
“Just that our people are not thinking outside the box and they think that there is no money out there.”
He said the Government would also introduce incentives for small businesses.
O’Neill said this year, the National Development Bank and People’s Micro Bank Limited should have their retail banking licenses.