Chinese Investment Creates Over 10,000 PNG Jobs, Says Ambassador

Artistic Expression of China Town, Port Moresby

 Chinese investment in PNG has generated more than 10,000 direct jobs for Papua New Guineans, with businesses from China continuing to expand across a broad range of industries, according to Chinese Ambassador Yang Xiaoguang.

The ambassador said the growing presence of Chinese companies has strengthened economic activity in the country through investments in major infrastructure, energy and commercial projects while also creating thousands of indirect employment opportunities.

Yang said Chinese enterprises were now operating in sectors including infrastructure, energy, mining, electricity, telecommunications, agriculture, forestry, fisheries and wholesale and retail trade.

He said Chinese-backed developments included the Edevu hydropower project, the Napa Napa solar power project and the Noble Centre, which he described as the tallest building in the Pacific.

According to the ambassador, these investments have directly employed more than 10,000 Papua New Guineans, while many more jobs have been created through supporting industries and business activities. He said Chinese companies were committed to operating within PNG's laws and maintaining responsible business practices while contributing to the country's economic and social progress.

Yang also welcomed the outcome of the recent China-PNG Business Roundtable held in Guangdong, where representatives from more than 250 companies from both countries met to discuss investment opportunities. The event followed the signing of a framework agreement on an enhanced economic partnership between China's Commerce Minister Wang Wentao and PNG International Trade and Investment Minister Richard Maru last month.

He said annual bilateral trade between China and PNG has remained at around US$4 billion, or approximately K17.6 billion, in recent years, with Papua New Guinea continuing to record a trade surplus. Yang also said China looked forward to welcoming Prime Minister James Marape and his delegation for the APEC Economic Leaders' Meeting in November.

"An increasing number of Chinese enterprises are investing and operating in PNG, covering a wide range of fields including infrastructure, energy, minerals, electricity, telecommunications, agriculture, forestry, fisheries, wholesale and retail," Yang said.

"These companies have directly employed more than 10,000 PNG staff and the number of indirect jobs created are much more."

"The year is only halfway through, and I believe the exchanges and cooperation between China and PNG will be even more remarkable in the second half as we are ready to strengthen our economic and trade links."