TRADE Minister Gabriel Kapris is luring Philippine investors to make new direct investment or expand on current operations in the country’s lucrative tuna industry.
Mr Kapris, who was recently in the Philippines, was yesterday quoted by the Sun Star of the Philippines as saying that Papua New Guinea’s new marine park in Madang would boost foreign direct investment on the country’s tuna industry, and urged Filipino fishing companies to take the opportunity to invest.
He thanked RD Tuna Canners (PNG) Ltd and Frabelle (PNG) Ltd, for setting up fishing and canning operations in the country and contributing to the country’s economic growth.
Likewise, Mr Kapris requested them to look at existing opportunities to expanding their operations.
The minister also urged other Filipino fishing companies to invest in PNG’s multi-million kina fishing industry.
RD Tuna, part of the RD Group of Companies in the Philippines, has a cannery in Madang employing over 3,000 workers while Frabelle recently set up fishing and canning operations in Lae.