Daewoo International Demonstrates Confidence in Papua New Guinea Economy

The Prime Minister, Peter O'Neill, has welcomed Daewoo’s ongoing commitment to Papua New Guinea.

During a courtesy call by the Daewoo International’s President, Mr. Byeong Eal Jeon, and Senior Executive Vice President, Mr. Jeong Hwan Park, the Prime Minister, accompanied by the Minister for Public Enterprise and State Investment, Hon. Ben Micah MP, thanked the company for its enthusiasm for expanding operations in Papua New Guinea.

The Prime Minister said Daewoo is a major international company that recognises the investment and business potential of Papua New Guinea and is seeking to deepen involvement in the economy. “Our door is always open to international investment and the introduction of new technologies and processes. “Companies like Daewoo bring with them knowledge that has been gained around the world that can then provide solutions to challenges faced in a geographically diverse country like Papua New Guinea.”

Mr Jeon provided an overview and presentation of current projects Daewoo is currently operating around the region and would like to further expend in Papua New Guinea. These include engagement in power generation, the construction of modular housing and transportation infrastructure. “Mr Jeon has provided an assurance that Daewoo’s operations in Papua New Guinea will work accordance and national standards and environmental requirements,” Prime Minister Hon. Peter O’Neill said.

“It is important that our people can physically access electricity, and that this energy is provided at a cost that is affordable to families. “Keeping costs down also expands the revenue base for energy providers and we ask all related companies to be aware to ensue they factor affordability into their business plans.” Mr Jeon advised Prime Minister Hon. Peter O’Neill that Daewoo International is looking forward to presenting proposals to the Government on future major infrastructure projects as these open to tender processes.