Japan pledges to support sector

 By GYNNIE KERO

THE Government of Japan will continue to support its private sector with investments in Papua New Guinea, Japan’s Prime Minister Shinzo Abe said.

During the launching of the Japan/PNG joint committee investment agreement last Friday, he praised business leaders from both countries who were present.

“Japan will cooperate with PNG so that this bilateral agreement will become an effective tool in promoting regional economic growth,” he said.

Abe said Japan has implemented a policy to revitalise its economy and was willing to share in the region.

But, he said this had to start with PNG, which was the engine of the regional economy.

Abe invited the country’s private sector to invest in Japan.

“Many Japanese companies who have travelled far to attend this meeting have participated in projects here in PNG even before the investment agreement came into effect this January.

“What this means is that on investment between our two countries, efforts by the government (Japan) have finally caught up with the private sector

“Let me once again express my great respect to those companies who recognised much earlier than the government and had a foresight on how much potential this country has. 

“The Japanese government will make its utmost effort to supporting all of you (companies).

“This past one-and-a-half-year I have been carrying out an economic policy dubbed Abenomics in order to revitalise the Japanese economy. 

“The effect has already appear in various ways and that Japanese economy has begun its new growth and  I would like to share this energy of Abenomic to the Pacific region and in order to do so, coordination with Papua New Guinea who is the engine of regional economy is essential.

“I hear already a number of Japanese companies have shown interest; progresses of projects that create both jobs or greatly contribute to economic growth of this country.

“I wish to see more and more investment from PNG to Japan, to do Japan would like to actively at the same time Japan would like to welcome foreign capital and foreign talents from overseas,” Abe added.