03/08/2025
đź’Ż
Who Made Them Giants? .............................. ........ ...... ........................
From my observation there are three groups of private entities operating in PNG’S Macro Economy Apart From the Government and State Owned Enterprises.
Firstly, Our Economy is dominated by Large Recourses Companies (Oil, Gas, Mining Etc) in terms of Capital Movements, Export Earnings and generating Government Revenue (2nd and 3rd not trickle down to the people level). Apart from OTML rest are Foreign Investors. Export earnings are parked offshore as well as their profits in their parent accounts. Though we are the resources owner, country's benefits are minimal both in employment and economic development. Top Management Positions for the Foreigners and the lower ones for the PNGeans.
Second to the Resources Companies are the Retail and Distribution Giants; Property Owners, Chain of Supper Markets, Hotels, logistics, vehicle dealership and all these giants. Financial Institutions are also included here. Also dominated by foreigners and minimal benefits to the country in term of employment and economic development. The Top Management Positions are for the foreigners and the lower ones for the PNGeans.
Finally we the SMEs and informal businesses which are very important in the economy not in terms of capital but the champions in providing employment opportunities to vast majority of local PNGeans regardless of whether they have qualifications or not. Informal sector employees almost ALL PNGEANS and the Emerging PNGEAN Owned Small and Medium Enterprises competing with the influx of new waves of Asians. Fighting tooth and nail into the reserved businesses. We need to support and expend this sector for the good of our people because this sector is lifeline for PNGEANS. From here PNGEANS will build themselves and climb up to be investors in their own economy or invest globally and bring in return on investment into the country.
Now who made the foreign owned companies became giants and dominate the market? Us PNGEANS. Who made them grow their wealths? Us PNGEANS. Who will be pushed out of our own economy and the market? Us PNGEANS. Whoes wives and children will suffer for not having economic power? Us PNGEANS. You can list more to it. NOW, you want to take back what you have given or want them to keep all and continue the dominance? The only way I see fit to take back the economy and the economic power is by supporting PNGEAN owned Businesses and no any other ways. We either shop local or sponsor Local Business Ideas.
If I am in a decision making positions like some of you PNGEANS there, then I would creat a new waves of PNGEAN ENTREPRENEURS and raise them from the Informal Sector all the way to the Top Two Categories up there and give PNGEANS back their both economy and the economic power.
By Wesley Roy
The Entrepreneur Gate Keeper of PNG Economy
