Japanese companies showing interest

JAPAN is keen to invest in sectors of Papua New Guinea’s economy apart from petroleum, Ambassador to PNG Morio Matsumoto says.

“There are many sectors, but LNG is the first priority,” he said. 

He said interests from Japanese companies to invest in the country began to increase following Prime Minister Shinzo Abe’s visit to PNG three months ago.

“We (Japan) are the second largest trading partner to Papua New Guinea, especially the exports from Papua New Guinea to Japan is the biggest after Australia,” Matsumoto said. “Currently, there are not many Japanese companies operating in Papua New Guinea but many Japanese companies are interested in investing in PNG,” he said.

Prime Minister Peter O’Neill in welcoming the Japan’s new ambassador to PNG said: “Enhanced trade, investment and cultural exchange will continue to be central features of Papua New Guinea’s warm relationship with Japan.

“Companies from Japan continue to make a significant contribution to our economy and employ thousands of Papua New Guineans.

“It was also an honour for Papua New Guinea to deliver our first LNG shipment to Japan this year, and now our gas is powering businesses and homes,” he said.