Stability is important, says Swire

By PETER ESILA
VISITING Swire Group chairman Barnaby Swire in Port Moresby says businesses crave stability, “whether in law and order or power supply – two current hot topics”.
“Whether it is stability in regulation, it is important when looking at longterm investment,” he said.
He was in Port Moresby on Friday to open Steamships Trading Company’s K250 million Harbourside South and the Marriot Executive Apartments. John Swire and Sons owns 72.12 per cent of Steamships.
He told Prime Minister James Marape, businesses, diplomats and Government agency heads that long-term investors also wanted the education system improved.
“As a business, Steamships need to be able to depend on the supply of young people coming into the workforce who are prepared for the basic necessities for daily employment, to keep jobs, increase their own prosperity and in the PNG context, support and increase prosperity for a large number of people in the family circle.”
Swire said Steamships remained committed to the nation’s economic development.
“I am delighted to be back in Port Moresby after most of four years. I first visited PNG in 1982,” he said.
“l lived and worked here in Port Moresby in the late 1980s for about 18 months.
“It is inspiring to see the tenacity and the resilience of the nation of people and businesses and the investors who have managed to facilitate these developments while facing multiple challenges both over the longer timeframe and in recent years,” he said.
“Steamships is of course one of those businesses been active in PNG for over 100 years.
“Swire Group is one of those investors, we have been in business elsewhere for longer than Steamships but we have been actively in business in PNG for about 70 years and as an investor in Steamships for about 50 years.”