Swire: UK firms not on ‘snatch and grab’ mission in PNG

National, Normal
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The National, Monday 22nd April 2013

 BRITISH companies are not on a “snatch and grab mission” like those from other countries, British Minister of State for the UK Foreign and Commonwealth Office, Hugo Swire says.

He said other countries, particularly from Asia, were courting PNG like a “bride” in view of its enormous natural resources.

Swire was in PNG last week for the Commonwealth Youth Ministers Conference and also held meetings with Prime Minister Peter O’Neill, government ministers and the business sector.

“As I said to your ministers, Papua New Guinea is rather like a bride at the altar, waiting for the fiancée to get married, and you turn around and you find that there are 50 people waiting to marry you, Swire told The National before departing last Friday.  

“You are witnessing much greater interest from countries which historically have not had close links with you, such as China and so forth.

“When we (UK) do business in PNG, it’s a partnership and in the long-term interests of both countries.

“We’re not here on a ‘snatch and grab’ mission.

“We’re here to invest in PNG and to share in the development of your country.”

Asked about the emergence of Asia, he said: “The growth of Asia has been strong for quite a long time. It’s a shift from West to East in terms of global trade and prosperity.” 

Swire described the PNG LNG project as a “once in a lifetime opportunity that has been presented to your government”.

“The amount of money that’s going to be around needs to be carefully managed.

“I think there needs to be greater accountability, greater transparency, and I think there are issues of infrastructure and 

deliverability.

“If things take off quickly as they might, do you have the in-depth skills and management to put the infrastructure in place?

“Equally, when I see the infrastructure that has been put in place, particularly for your liquefied natural gas, which we went to see yesterday, these are multi-billion dollar investments.”