Chairman Barnby Swire, Excellencies of our Foreign Heads of Mission, National Capital District Governor Hon. Powes Parkop, my fellow Members of Parliament, Heads of Departments and State Agencies, Ladies and Gentlemen, distinguished guests, esteemed business leaders, and valued partners for Steamships and the country.
Good morning and welcome. Today marks a significant moment in the development of our nation as we gather to celebrate the opening of the Harborside Precinct and the Marriott Executive Apartments. This occasion is not just about bricks and mortar; it represents the culmination of years of hard work, collaboration, and dedication to building a brighter future for Papua New Guinea.
It is with immense pride and a profound sense of purpose that we inaugurate these developments. Three years and four months ago, on 15th October 2019, Rupert Bray and I officiated the groundbreaking of the Harborside South building Project at the historic Laurabada site. This journey underscores our collective effort and vision.
For over a century, Steamships Trading Company has been a cornerstone of our economy, pioneering in various sectors. Their commitment and innovation have significantly shaped our economic landscape, contributing to Papua New Guinea’s growth and development.
Today, we also honor the legacy and commitment of John Swire & Sons, whose enduring investment has driven economic development and created opportunities for our people.
As we open the Harborside Precinct and the Marriott Executive Apartments, we reaffirm our commitment to strong public-private partnerships. These are essential for overcoming challenges, driving innovation, and creating opportunities for all Papua New Guineans.
The transformation of Port Moresby into a modern city, aligned with the NCDC’s Amazing Port Moresby initiative of Governor Hon. Powes Parkop, showcases the impact of strategic partnerships and visionary projects. Such initiatives are catalysts for urban revitalisation, economic development, and community empowerment.
I encourage businesses from Papua New Guinea and abroad to invest in our country, to forge
new partnerships, and explore opportunities in various industries.
The Marape Rosso Government is dedicated to improving economic development and enhancing investor confidence. Our focus has been on encouraging economic growth, which has seen significant progress since our office term began in 2019.
We have seen remarkable economic growth, with the GDP increasing from K79 billion in 2018 to K111 billion in 2023. Our aim is to reach a K200 billion economy by the next decade, supported by major projects like the Papua LNG and the Porgera mine, among others.
Despite challenges, our non-extractive sector has shown resilience, growing by over 4% in recent years. Papua New Guinea remains a promising frontier for investors, offering high returns. We will continue to invest in law and order and ease investment processes.
The Harborside South project exemplifies the potential of integrated urban development, creating a vibrant community space. It sets a new standard for urban planning and design, enhancing the city’s attractiveness for investment and livability.
The Marriott Executive Apartments represent excellence in hospitality, contributing to Port Moresby’s emergence as a business and leisure destination. Such collaborative efforts are essential for realising a modern, dynamic, and inclusive city.
In closing, I congratulate Steamships Trading Company, John Swire & Sons, and all partners involved in this milestone. May these developments symbolise progress, prosperity, and partnership for generations to come.