SMEC MD HIGHLIGHTS NEED FOR COLLABORATION IN GROWING PNG’S INFORMAL ECONOMY
SMALL and Medium Enterprises Corporation (SMEC) Managing Director, Mr. Petrus Ralda has emphasized the urgent need to develop Papua New Guinea’s informal economy, describing it as immature and complex, and calling for stronger partnerships across sectors.
Speaking at the conclusion of a two-week Training of Trainers program, held on Friday 27th July 2025 the Managing Director thanked key partners including the Tourism Promotion Authority (TPA), the PNG Electoral Commission, and the private sector for their ongoing support towards SME development.
Mr. Ralda said 85 percent of people are in the informal sector. Many are business illiterate they do not even realize they are running a business.
He says this is why programs like this are so critical. They must educate and empower people to shift mindsets and create an entrepreneurship culture.
He noted that while resources are limited, collaboration remains vital in delivering maximum impact, adding that both government and private sectors must align their goals to transform PNG’s socio-economic landscape.
He says the SME Corporation is now focused on grassroots-level development.
He further adds that SME development is the key to reducing law and order issues.
He says if people have money in their pockets, crime will go down.
He urged the newly certified trainers to become agents of change in their districts and communities, with a mission to empower ordinary Papua New Guineans through business knowledge, soft skills, and wisdom
