PNG commits K10 million for Japan recovery

Business, Main Stories

The National, Wednesday, April 27, 2011

PAPUA New Guinea yesterday gave K10 million to disaster stricken Japan.
Foreign Affairs and Trade Minister Don Polye presented a cheque for the amount to his counterpart, Takekai Matsumoto, to help the Japanese government in its recovery process after the double disasters in March left 130,000 survivors homeless.
Polye, who flew to Japan over the Easter weekend, called from Tokyo on Monday night to say his visit was to officially convey condolences and sympathies for the relatives of 14,358 people who had lost their lives and 11,889 others who are unaccounted for in the earthquake and tsunami that struck the country on March 11.
Polye said he conveyed the condolences on behalf of the people PNG to the people of Japan and their government.
He told the Japanese PNG treasured its bilateral relations and would work to make it better.
“I have come here to show solidarity, goodwill that PNG treasures Japan as an important bilateral partner,” Polye said by phone.
“PNG is a close friend of Japan and as a show of friendship and solidarity, the PNG government has committed K10 million to help Japan recover and restore damage done to infrastructure and homes during the double catastrophic disasters in which more than 20,000 people have lost their lives,” Polye said.
While in Japan, Polye also negotiated trade and investment opportunities between the two nations.
He reportedly made contact with Sanko-Bussan, a family-owned Japanese company engaged in the commercial fishing business which had agreed to build a loin tuna factory in Port Moresby while other investors hade indicated to invest in clean energy, agriculture and technology sectors.
Sanko-Bussan operates a fleet of about 90 fishing vessels in the Pacific.
Polye, during the signing of the investment promotion protection agreement (IPPA) yesterday with his Japanese counterpart in Tokyo, invited potential Japanese investors to consider investing in PNG.
“This IPPA signing is timely and very significant as it protects the high profile of Japanese investments to grow in PNG.
“The IPPA is not a contractual obligation but it gives Japan the assurance and confidence that their investments in PNG are well assured, promoted and protected.
“The IPPA signifies PNG’s commitment to Japanese investments and gives them assurance and confidence that PNG is supportive and protective of their investments,” Polye told The National from Tokyo.
He said the second part of the IPPA signing was for a diversified area in particular tourism, fishery, agriculture, and information and communication technology (ICT).
Polye said the Japanese were interested in investing in agriculture, fishery, ICT and PNG government had to make their investment environment conducive for them.
“One of my aims is to attract more investments in PNG so that it helps our economy,” the Kandep MP said.