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APEC Economies Keen To Assist PNG

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Prime Minister James Marape says talks with other leading APEC economies have seen keen interest in further development of PNG’s resources.

PM Marape made these remarks upon his arrival in Port Moresby from the APEC Summit in Bangkok Thailand.

“I want to let the country know that Papua New Guinea is on the verge of expanding more bilateral agreements in trade and business. There is an opportunity never seen in the past APEC meetings”, said PM Marape.

“We not only talking about trade and business but also in energy generation and its sustainability,” said the Prime Minister.

He added that more leading APEC economies now understood the development agenda of the Marape-Rosso Government. “We are bringing to the table our challenges and possible solutions to improve our local economy”, PM said.

The Prime Minister said talks with the United States concluded with a keen interest in developing PNG’s fisheries sector. “We are not looking at just exporting our products but allowing for downstream processing”, said PM Marape.

He further said that his bilateral meeting with China was also welcomed by the Chinese President with China committing to buy and produce in Papua New Guinea.

“I am satisfied that our attendance at the APEC Summit in Bangkok has achieved more. The Government will continue its intervention programs to support people and Provincial Governments to ensure benefits reach rural communities,” said Marape.

The Prime Minister added that France, Canada, and Japan including close neighbors Australia and New Zealand have also pledged to extend more cooperation in business and trade.

PM Marape concluded his reflection following the APEC Summit that people must now assist by tapping into agriculture and business.

“I urged all citizens to get their hands dirty and contribute by farming their land. If a family can produce more, this means more income and adds value to the growth of our economy,” said PM Marape.

Meanwhile, the Prime Minister said unlike before, there are more opportunities for Papua New Guinea to access markets in APEC member countries.

“I can guarantee you all that there is more market available for our products, it’s our we can convert to finished products and trade with other nations,” said Marape.

The Prime Minister said more dialogue with other APEC economies will eventuate in 2023 to bind trade and business agreements so we can develop our people and nation.

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Business

Paga Hill Paradise

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Prime Minister James Marape has urged investors to have confidence and invest in Papua New Guinea.

“My government or the government I lead do not care about colour, which political divide or which religion you come from or what tribe, we want to encourage business investments,” Marape said.

He said this at the groundbreaking ceremony of the K130 million Paga Hill Paradise development – a 22-floor high-end apartments building project.

The luxury accommodation will be built on the added backfield land on the Port Moresby beachfront just as the ring road takes a bend overlooking the old Fairfax Harbour.

Mr Marape said the country is loyal to investors who are loyal to the country.

“This is a country that has shown its ability to repay our investors a substantial amount on return on investment,” Prime Minister Marape said.

Governor Powes Parkop thanked Asian businessman Jimmy Po and other investors for having trust in the Capital city and for their commitment to ensuring modern facilities for accommodation.

He added the city government has devised the “Amazing Port Moresby global branding to promote the city as a liveable city but the government can’t do it alone.

“For me as a governor I’ve been very passionate about making it happen but it’s been taking a long time. But today, the journey has begun and I thank the investors,” Governor Parkop said.

Lead architect Andrew McFadden said the building meets international standards both from PNG and Australia and is a project that involved input from local knowledge.

The building will be constructed by China State Engineering, a company that has its footprint in the construction of hotels and accommodations including the Ela Beach paradise, Toaguba hill paradise and construction of an office building at Waigani.

An Artist’s impression of the Paga Hill, Paradise 22-floor Luxury Apartment

While the beachfront luxury is yet to be built, interested occupants have purchased 67 units and duplexes out of the 83.

The lowest accommodation is valued at K1.3 million and a whole floor on the 19th worth K10 million has been paid ahead of opening time.

The residential building is expected to be completed after two years.

An Artist’s impression of the Paga Hill, Paradise 22-floor Luxury Apartment
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