K527mil deal for park
A CHINESE company has signed a memorandum of understanding with the State for a US$150 million (K527.20mil) industrial park for marine resources in Western.
Fisheries and Marine Resources Minister Dr Lino Tom said the Fujian Zhonghong Fishery Ltd wanted to invest in Western. Tom said the investor would work with the National Fisheries Authority to provide technical assistance in what they planned to do.
The Government hopes to sign an agreement later so that exports of marine products can take place plus other spin-off economic benefits and job creation.
“This project will allow about 90 companies to access the Chinese market in terms of selling marine products,” he said.
“We also want to encourage foreign companies to invest and realise the potential we have in the marine sector.”
The Fujian Zhonghong Fishery Ltd is interested in setting up a marine industrial zone.
“It is quite a massive foreign investment in the country.
“Not only will they fish but also create more jobs.”
Western Governor Toboi Awi Yoto and South Fly MP Sekie Agisa hope that an agreement will be signed in the near future to start the project.
“We have the products in the country but we do not have the market,” Yoto said.
9 comments
The Chinese just want to increase their activities along the Torrest Strait.
Just make sure it is not a soft loan that will trap us for years to come.
New government must cancel this dodgy deal.
Instead PNG must invite USA to build a Naval Base in Manus.
i heard this company sponsor the students to Fujian Business University 。 that sounds good
Then Given Russia a base in Abau
This is part of Beijing’s “Ring Road One Belt” policies and infrastructural plans to increase its economic dominance in Asia-Pacific Regions. And YES-it is a soft loan: terms and conditions are malicious and NOT visible outside of Corrupt Officials. THE CITIZENS WILL BE BURDENED FOR LIFE to repay the dept. Chinese Economic Empire has reached the World already and there is NOTHING PNG can do to stop it.
This is a good development part way for western province coz we western province through Oktedi mine ,has contributed a lot to develope Papua New Guinea and it is about time PNG goverment to recorgnice western province. Could we have this Fisheries park developed on Bristow/Bobo island next to Daru island. This could be a bonus developement pathway also for western province headquarters on Daru island, such as good water supply, sanitations ,electricity etcccc.
We must not allow Chinese to invest in our country. Krumbukari is one good example.
They will reap off all marine resources, they won’t provide employment opportunities for our locals, Chinese will flood and occupy more than 3/4 of the jobs. They will use our locals as cheap Laborers, like current highlands Highway upgrade.
Totally agree with above. If it is a loan, cancel it. Nogut yu kisim na yu no bekim bai ol takeover Western province. Better to use what you have to start small and finish big.
Western Province should be advanced and developed to a higher level when the largest copper mine is in Western Province. Western Province should by now be a buzzling modern province built from proceeds of that mine. Signing MOUs worth PGK527M to develop a lousy marine park are things of the past. Where is OK Tedi ? why Chinese? Back to square one it is…
Soon there will be 1000 Chinese workers coming in under the guise of marine biologist or researchers only to work as a cook or cleaner or worst govt agents/spies. There will be no low skill jobs for Papua New Guineans, no social economic benefit for the locals, it just a cover up for something else.
Why Chinese Govt is interested at Western Province, is to set up closer to Australia for their military and intelligence purposes $150 million is peanuts to them. They have also bought a large part of the Darwin wharf in Northern Territory of Australia, a lease of 99years. Can Australia Gov’t advise those ill advise gov’t advisors or intelligence officers in PNG look in to it and think again about what they are putting ourselves in.
Please is it going to be beneficial to the country ?
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