Role of Chinese citizens in PNG economy praised

Business

CHINESE citizens in Papua New Guinea have contributed positively over the years towards the development of the country, Chinese Ambassador Xue Bin says.
He said this during the opening of the new Lae Biscuit factory on Friday which was witnessed by Governor-General Sir Bob Dadae and Port Moresby Archbishop Cardinal Sir John Ribat.
Bin congratulated the Chow family for the development of the Lae Biscuit Company.
He said the first group of Chinese entrepreneurs and explorers arrived in the country more than 200 years ago.
Bin said the Chow family was a successful story of Chinese immigrants who had settled in the country and contributed to nation building over the years through business and social progress.
He said the cooperation between China and Papua New Guinea had seen a remarkable progress in areas of trade, investment, infrastructure, agriculture and fisheries.
“In November 2014, China and PNG established a strategic understanding featuring mutual respect and development which ushered in a new era of bilateral relationship,” Bin said.
“Now in the Pacific region, PNG has become the largest trading and investment partner for China among the Pacific Islands nations.”
In 2016, the bilateral volume reached US$2.28 billion (K7.11bil) and China’s direct investment in the country reached US$1.9bil (K6bil) with more than 40 Chinese companies operating now in the country creating more than 7000 jobs, he said.
Bin said China Harbour Engineering was one of the companies which not only contributed towards building the Lae Biscuit factory but also towards the general development of infrastructure in the country.

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