High Data and Internet Costs Hinder Business Growth in PNG, Chief Trade Officer Highlights7/31/2024
The high cost of data and internet services in Papua New Guinea has been identified as a significant barrier to business growth, particularly impacting Micro, Small, and Medium Enterprises (MSMEs). Richard Yakam, Chief Trade Officer, highlighted this issue during the 2024 Business Regulators Summit in Port Moresby, emphasizing that it should be a key consideration for regulators when developing recommendations to enhance trade facilitation. Yakam stressed the critical role of digital trade in the modern economy, noting its importance in both global supply chains and the online sale of goods and services. “As the digital economy expands, digital trade becomes increasingly vital, offering substantial opportunities for economic growth and supporting our SMEs in the private sector,” he said. During his address, Yakam outlined several initiatives undertaken by the National Trade Office (NTO) to advance digital trade. He referenced the Electronic Transactions Act of 2021, which provides a legal framework for electronic transactions, ensuring that electronic records, checklists, and contracts are legally recognized and secure. This framework is designed to enhance security and reliability for private sector electronic transactions. Yakam also discussed the Draft E-Commerce Strategy 2024, which the NTO is developing. The draft strategy, which has been consulted upon and completed, will soon be presented to the government for approval. “The strategy outlines our needs and objectives, identifies infrastructure gaps, and assesses strengths and weaknesses in the digital era,” he explained. “We have worked with stakeholders to address these areas and will submit the strategy to the cabinet for endorsement.” Additionally, Yakam mentioned the NTO’s efforts to develop a Digital Windows System for the country. The NTO is working on adopting a legislative framework that aligns with domestic needs. “We have conducted two consultations and are continuing to engage with stakeholders to ensure the framework meets our country’s specific requirements,” he added. ALso read Comments are closed.
|
PNG TECH TIMESHome to PNG technology News and Tips. Software review, Website design tips, Making money through ICT, Social Media Marketing, computer Applications etc. |