Reopening of mine restores investment confidence: Chamber

THE Lae chamber of commerce and industry (LCCI) has welcomed the reopening of Porgera as the mine provides employment from Lae up the Highlands in transport, production, sales and movement of goods.
LCCI president John Byrne said resource projects were vital for the economy but it was also pleasing to see that the Government and other bodies were working to strengthen agriculture.
“It is a vital step for our country in terms of investment confidence, but of equal and more importance to the lives and livelihood of our people and businesses from Porgera down to Lae, not excluding the beneficial impact to all provinces,” he said.
“Agriculture is a key programme in PNG but without the resource projects, local and overseas investment, education and planning they will not bring immediate relief to our communities.
“It will take some months to restore the site to a safe and operational business and we encourage all parties to work together to ensure this happens with due haste.
“We also encourage the opening of progressive talks on Wafi-Golpu, another critical project which will have a broader impact than simply a resource project.
“With the combined pressure of the Covid-19 having a detrimental effect on the economy and health of our people, and the shortening of forex (foreign exchange) and Government funds to pay suppliers, important investments and projects like these provide a platform which will as Prime Minister James Marape says, move to ‘Take back PNG’, for all local and overseas legal and tax paying businesses and our people,” Byrne said.