PM: Investments are encouraged

By GYNNIE KERO and CRETILDA ALOKAKA
PRIME Minister James Marape says the Government is keen on promoting business in the country, and does not care where the investors come from.
He made the remark during the groundbreaking ceremony for the K130 million apartment project at Paga Hill in Port Moresby yesterday.
The beachside luxury Paga Hill Paradise Apartments, made up of 83 units, is expected to be completed in August, 2024.
According to the developer Twin Tower Development, 63 out of the 83 units have been sold.
Marape said: “This part of the city is the special economic zone.
“I want to say thank you to the investors who choose to come in and spend K130 million.
“My Government does not care whether you are coloured or what shade of colour you have, which religious group you come from, which tribe you come from.
“We want to encourage business investments.
“You will not be discouraged if you invest here (in PNG).”
National Capital District Governor Powes Parkop thanked the investors for the multi-million kina project.
Parkop also acknowledge the private sector for the developments taking place in the city.
Twin Tower began its first project in the country in 2015 – the Ela Beach Paradise Apartments.
The 32 luxury units were completed in 2017.
During the same year, it began the Touaguba Hill Paradise project which consisted of 115 apartments.
It then went on to build two 12-storey commercial office complexes in Waigani.