Wednesday, September 17, 2008

Caption: Papua New Guinea's Ambassador His Excellency Ambassador John Momis presenting RMB 3000 (K1,117) on behalf of PNG Embassy in Beijing to Papua New Guinea's only silver medalist Francis in Beijing during the 33rd Independence Celebration, while wife Elizabeth Momis looks on. Picture courtesy by Albert Tobby

PNG welcomes China’s investments.

By Mathew Yakai in Changchun, China

THE government of Papua New Guinea is welcoming potential Chinese companies to invest in the country, especially in downstream processing and manufacturing.

Speaking at the 33rd PNG’s Independence Anniversary in Beijing, his Excellency Ambassador John Momis said PNG’s trade and economic relations with the People’s Republic of China (PRC) have been reaching new heights and PNG government desire to diversify its sources of trade and investment.

Ambassador Momis admitted that China’s policy of further reforms and opening up to outside world provides good opportunities to improve trade and investment between the two countries and PNG can benefit from PRC’s policy.

“The negotiation of preferential loan of RMB 8 hundred million has been progressing well,” Ambassador Momis said.

Ambassador Momis said following the July Trade and Investment Symposium in Port Moresby, more Chinese entrepreneurs are planning and considering investment in PNG.

“They would like to follow the fine example set by Ramu Nickel Mine of MCC, which has already provided funds, expertise and management,” Ambassador Momis said.

He also applauded the successful Investment, Trade and Tourism Ministerial Conference of China-Pacific Countries Economic Development Cooperation Forum staged last week in Xiamen City, Fujian Province

“At the Forum it was stated that the Chinese Government actively supports competent Chinese Enterprises to go Global. We warmly welcome competent Chinese Enterprises to go Global.”

“We warmly welcome competent Chinese Enterprises to come to make direct investments in PNG.”

“Frankly speaking there are some challenges in investment in PNG. However the potential is great and huge especially in downstream processing and manufacturing. We will give our support to any Chinese competent enterprises that would like to invest in my country,” Ambassador Momis said.

The Ambassador also acknowledged the booming mining developments and huge LNG Gas project which is the biggest in PNG’s history.

“It is absolutely correct for the Government to develop these big projects. However at the same, we should also pay special attention to the development of our rural economy which comprises agricultural, fishery and forestry sectors.”

“Our Rural Economy is too important for us to ignore because it not only supports the livelihood of the 87% of PNG’s population but also guaranteed the sustainable development of PNG economy,” he said.

Ambassador Momis also thanked the people of China and the Chinese government for providing invaluable help in various areas like education, when acknowledging the arrival of 25 new PNG students under the Chinese Government Scholarship.

He also congratulated the Chinese government for successfully hosting the Olympic Game and the on going Paralympics Game, making disable individuals to realize themselves as equal persons.

“…apart from celebrating our independence day we have a very special reason to share our joy and pride in Francis Kompaun’s winning and His colleague Joelyn for courageous participation representing PNG in this world even.”

“It is my firm belief there is great potential in physical culture in PNG and other Pacific countries. I am hopeful that the Chinese Government would help us, Island Countries in the Pacific build a sports institute in PNG to train sports men and women from our region,” the ambassador said.

Momis presented "cash" money of K1,117. (RMB 3000) to Francis with a bouquet of flower and Joelyn and two officials with K744.77 (RMB 2000) each to express his appreciation and gratitude for their participation at the Paralympics Games.

Special Guest Present during the independence celebration were Zheng Zeguan – Deputy Director of America – Oceania, Department of the Ministry of Foreign Affairs, representatives of Pacific Islands Embassy’s in Beijing, Bernard Chan – President of the PNG National Paralympics Committee, PNG Students in Beijing, Senior PNG Government Departments and Media Officers and Chinese friends.