Prime Minister Hon. James Marape has called on Papua New Guinea-owned businesses to maintain a strong presence and continued business relation between PNG and Samoa.
Prime Minister Marape said both countries share common values in their development aspirations and PNG-owned businesses operating in Samoa stand to gain maximum returns on their investments.
“I encourage our PNG-owned businesses operating here and those looking for investment opportunities in the areas of finance and banking, tourism, and the construction industry to diversify their investments in Apia.
“I see the success of many PNG-owned businesses like Bank South Pacific (BSP), which has a strong presence in Samoa and the Constantinou Group of Companies, which has invested in the construction and hotel industry.
“PNG is a good place to relate to in doing business. I want to encourage businesses to go out there and grab the opportunity here in Samoa and the other Pacific Island countries,’’ said Prime Minister Marape.
He said this at a business breakfast meeting organized by the Samoan business community at the Taumeasina Island Resort in Samoa.
Prime Minister Marape also informed the Samoan-PNG business community that the PNG Government is looking at making the economic climate conducive for businesses to invest and operate in PNG as well as expanding to other Pacific Island countries.
“We, as a government, are looking at removing the impediments and improving the ease of doing business in the country good for your operations.
“We have a good business arbitration system in place where issues over business contracts and dealings are mediated for a win-win outcome between the government, developers and or landowners so that both sides interests are protected and cared for when conflicts arise.
“PNG looks forward to the further expansion and continued presence of PNG businesses operating here in Apia, Samoa, and our people-to-people relations especially in tourism,’’ said Prime Minister Marape.
The Samoa business community spoke highly of major PNG companies like Bank South Pacific (BSP) and the Constantinou Group of Companies operating in Samoa. The Constantinou Group owns and operates the Taumeasina Island Resort, and its Hebou Construction is eyeing interest in the Samoan construction sector.
The PNG Government has shares in Bank South Pacific and the Taumeasina Hotel through landowner interests.
Prime Minister Marape held the business community meeting in the morning before attending the official opening ceremony of the 27th Commonwealth Heads of Government Meeting (CHOGM), followed by the Executive Session on Friday, 25th October 2024.
The meeting was attended by the Executive Director of Australia-PNG Business Council Frank Yourn, Group Chief Executive Officer of BSP Financial Group Mark Robinson, William Blank of Hall Contracting who has done dredging work on some of PNG’s major ports like Lae and Port Moresby and PNG’s Honorary Consul to Samoa, Fiona Ey.
Business representatives and the community thanked the PNG Government support to PNG businesses like BSP and Constantinou group for investing in Sa- moa and called for further investment in the construction sector.
Prime Minister Marape also thanked BSP as a PNG bank in its support to the Samoan Government as a major sponsor of the CHOGM. He said he was impressed to see most of the leaders of the 56 member countries being accommodated at the Taumeasina Island Resort which is largely owned by PNG investors.