Landowners urged to invest in local companies

National, Normal

The National- Monday, January 17, 2011


UPNG journalism student

Resource landowners have been encouraged to invest their LNG seed capital payments into the nationally owned Joint Venture Security Company (JVSC) and not into foreign owned security companies.

Landowner spokesmen Etape Hajaya and Mek Mena commended Triple J and Associates which manages JVSC, describing the joint venture of security and associated services for landowners as significant and historic.

Hajaya said through investment, landowners would enjoy benefits including petroleum development licence (PDL) and the company chairman automatically become board of directors with JVSC as well as being employed on their own customary lands with fortnightly payments. 

“We cannot rely on government or foreign owned security firms to operate our customary lands. We must join hands and run our own nationally owned companies,” Hajaya said.

A total of nine landowner groups signed the MoA with Triple J and Associates last year which aims to see equal participation in the development of natural resources in Hela and Southern Highlands as well as other provinces.