China visit to focus on projects

By CLIFFORD FAIPARIK
PRIME Minister Peter O’Neill and National Planning Minister Richard Maru will sign agreements with the Chinese government to boost infrastructure and economic projects in PNG.
O’Neill said the agreements would include the development of the Frieda Gold Mine in West Sepik and loans.
“We will also fix up the loan agreement taken by the past government with the Chinese government to establish the Pacific Marine Industrial Zone (PMIZ) in Madang and establishment of community colleges throughout PNG,” he said.
“We know that millions of kina were spent on these projects but there is nothing to show on the ground.”
O’Neill said that a team of 19 Government officers and businessmen would travel to Shanghai on Wednesday and return on Monday.
“It is a big delegation and we will go on an Air Niugini charter. The businessmen have paid their own costs which has contributed to the reduced charter cost,” he said.
“These businessmen do business with China. This trip is an invitation from the Chinese President Xi Jinping. We will meet with President Xi Jinping and also Premier Li Keqiang.”
O’Neill said they would also sign a one-belt one-road initiative that offered great potential for PNG to help integrate its economy with global economy and negotiate in advance free trade zone agreement with China. One-belt one-road initiative is meant to create more efficient trade corridors between Asia-Pacific and Western Asia through infrastructure projects that link China.
“We will sign further engagement with Asian Investment Bank. This bank is focused on making cheaper concessional loan in many countries in the region.”
O’Neill said that China invested about K225 million in grants on PNG’s infrastructure development in preparation for the Asia-Pacific Economic Cooperation summit.
Meanwhile, Maru said they would revisit the loan agreement for the PMIZ and establishment of community colleges throughout PNG.
“We will be discussing about the development of the Frieda River Gold Mine as it has been bought off by Chinese investors,” he said.
“We have to discuss the construction of a 500km road from the mine to Vanimo, the tailing dam and a large international wharf in Vanimo.”