Digicel to double PNG investment in next 3 years

DIGICEL’S investment in the country is expected to double in the next three years.
The company announced yesterday that it expected to invest a total of US$340 million (K993 million) over the next three years.
During the last six months, Digicel had invested about US$150 million (K438 million) in the country and had generated 300 regular jobs and creating indirect employment for about 4,000 Papua New Guineans nationwide.
This had contributed to the 0.7% growth to the gross net production (GDP) of PNG.
Minister for Treasury and Finance Patrick Pruaitch highlighted in his recent 2008 Budget presentation to Parliament that the “significant expansion” of mobile telecommunications had brought a major revision to the country’s GDP for this year.
Mr Pruaitch said he expected a further 0.7% growth of GDP for next year, if competition in the mobile telecommunciation sector was allowed to continue to flourish.
Digicel Pacific chairman Denis O’Brien said: “We are proud that Digicel PNG is already contributing so significantly to the economy in PNG and proven that open competition is good for everyone.
“It is great news not only for our management and employees but especially for the country.
“Digicel has a long term commitment to PNG and we are very optimistic about the further potential for growth.”
Since the entry of Digicel into the PNG market, the price of calls had decreased by as much as 60%.
Digicel has extensive network coverage throughout the country and had brought coverage to rural areas for the first time ever.