Madang has big business potential: Fleming

Momase

By DOROTHY MARK
Madang has enormous economic potential with lots of activities taking place in the province, Bank South Pacific
chief executive officer Robin Fleming says.
Fleming and BSP board members led by chairman Sir Kostas Constantino were in Madang this week for a board meeting.
Fleming said the bank held its board meetings outside of Port Moresby in provinces they felt had economic potential for the bank to increase its existing business operations in.
“We go to areas outside of Port Moresby where we feel there are a lot of economic activities like Lae, Mt Hagen, Madang and Kokopo to have these meetings.
“Madang is good because it is a good base for BSP for many years and its economical potential is enormous,” Fleming said.
He said the province’s new MPs recently elected would have a role to play especially in areas were internal revenue could be beefed up through taxes.
Fleming was responding to a question on his view on the economical strength and potential of Madang.
Meanwhile, Madang Governor Peter Yama said last week that an enquiry into the provincial government’s expenditure would set the record straight on how public funds  had been used since 2013, which also included internal revenue collections.
Yama said a 40-day investigation would restore confidence in existing businesses and
investors who wished to do business in Madang.
He said Madang has more to offer in its economy with multi-million kina projects already in the pipeline and others currently in progress.
The Pacific Marine Industrial Zone project is one that many businesses, individuals and locals have their eyes on.
Yama said the Madang-Baiyer highway which was captured in the Government’s Alotau Accord II would divert business activities from the highlands to the
province with excellent economic turnover.