PNG Investments to impact Pacific
07:01 Mon Oct 22, 2012
Report by: Mika Loga
Investors in Papua New Guinea are taking the country’s business sector by storm, pumping hundreds of millions of dollars into the economy.
Their investments are significant in the Bank of South Pacific, Credit Corporation, Mineral Resources Development Corporation which own the Pearl Resort in Pacific Harbour, Naswan joint venture with the Fiji National Provident Fund and Lamana Development Company which are re-developing the old GPH site.
NASFUND Papua New Guinea Chairman Mel Tagolo says, they’d like to see their investment have a significant impact in the Pacific region.
“I like to see our investment in the pacific this is the region where we are and if we put in more investment in this region then that means we’d be providing employment, training, skills transfer and all that that can remain in this region and those sought of skills attract investment come to our region.”
Investors are injecting much of their cash in the financial and tourism sectors creating thousands of jobs for our locals.
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