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By Staff Reporter : PNG Today

Direct Investment by China Railway Group to boost PNG Economy


The Government of Papua New Guinea has signed a series of Memorandums of Understanding (MOU) with the Government of China and the China Railway company that will deliver a number of new infrastructure projects in the Papua New Guinea's Highlands Region.


Witnessing the signing of the MOU today in Port Moresby, the Prime Minister, Hon. Peter O’Neill CMG MP, said the new projects will have direct positive impacts on the lives of people in Eastern and Western Highlands provinces.
“These projects will enhance agriculture, roads and water supply in parts of the Highlands will improve lives and help people to be more active in the economy.
“China is one of our strongest development partners, and this direct investment is an example of the huge confidence that China and Chinese companies have in Papua New Guinea.
“Despite the challenges in the global economy in recent years, the outlook for the Papua New Guinea economy is very positive and we thank our partners for their commitment to our country.
“The projects that we initiated today will be delivered in some of the most remote parts of our country where there is a need to improve connectivity and services.
“These projects are taking place as part of the ‘One Belt One Road’ initiative that is creating more efficient trade corridors between the Asia-Pacific and Western Asia.
“As this initiative grows we are seeing infrastructure improvements across many developing countries.
“At the eastern end of the initiative, Papua New Guinea is deriving benefits that will strengthen capacity to trade across borders.”
The Prime Minister thanked the President of the China Railway International Group, Mr. Zhang Zongyan, for visiting Papua New Guinea to see for himself where support can be allocated.
“I thank the Government of China and the China Railway Company for their ongoing commitment to Papua New Guinea.
“The projects we have agreed on today will deliver positive change for people in many towns and villages.
“Your support for Papua New Guinea will be remembered long into the future.
“I look forward to further discussing these and other initiatives with President Xi Jinping when he arrives in Papua New Guinea for APEC next year.”
The three MOU’s signed today are:
- China-PNG Integrated Agriculture Industrial Park;
- The High Priority Economic Roads Project;
- Goroka Town Water Supply Upgrade Project.
The signing of MOU’s was witnessed by Prime Minister O’Neill, Works Minister, Michael Nali and Agriculture Minister, Benny Allen.
Photos: PM O’Neill meets with officials from China Railroad Group and Chinese Government before the signing the MOUs.

Posted by Staff Reporter : PNG Today on 3:45 AM. Filed under , , , . You can follow any responses to this entry through the RSS 2.0. Share this Article

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