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Media Releases, 18 May 2016

ExxonMobil PNG and IBBM Enterprise Centre to develop capacities of more SMEs in PNG

ExxonMobil PNG Limited (EMPNG), operator of PNG LNG, and the PNG Institute of Banking and Business Management (IBBM) Enterprise Centre have announced a 12-month continuation of their long-standing partnership to develop the capacity and skills of Papua New Guinean businesses.

The IBBM Enterprise Centre was established by the PNG LNG Project in 2010 to create economic opportunities for Papua New Guinean businesses and develop the capabilities of local landowner companies and contractors, as well as PNG suppliers and vendors, as part of the PNG LNG Project National Content Plan.

ExxonMobil PNG's National Content Manager Susil Nelson-Kongoi said its partnership with the Enterprise Centre had exceeded all expectations with its services now delivering value well beyond the PNG LNG project.

"One of the early actions of the Enterprise Centre was to establish a supplier database to facilitate communication between local businesses and PNG LNG project contractors. The supplier database now has a much broader reach connecting landcos and SMEs to business opportunities right across PNG," said Nelson-Kongoi.

Since 2010 over 17,000 local entrepreneurs have been assisted by the Enterprise Centre with more than 1,500 businesses, including landcos and SMEs, now registered in the supplier database.

Over 400 business assessments have been completed resulting in the development of Business Improvement Plans for each of these businesses. In total more than 20,300 days of training and over 1200 advisory and mentoring days have been delivered to the Papua New Guinean business community.

"ExxonMobil PNG is delighted to continue our partnership with the Enterprise Centre. Our partnership reflects our desire to see Papua New Guinean businesses grow alongside our business in the decades to come, together contributing to the economic development of this nation," concluded Nelson-Kongoi.

IBBM Enterprise Centre capacity building program include the PNG Employment and Supplier database, business assessment, business training, advisory and mentoring services to enhance governance, operations and management capabilities of PNG businesses, human resources management and financial advisory services to assist local businesses access finance from financial institutions.