The prime minister is back in country after returning from Vanuatu where he was guest of honor at their 46th Independence Anniversary, and now, he wants to explore investment opportunities there.
Prime Minister James Marape has announced that Papua New Guinea (PNG) would soon dispatch a business delegation comprising representatives of major Papua New Guinean institutions, including superannuation funds and the Mineral Resources Development Company (MRDC), to explore investment opportunities in Vanuatu.
“We believe there is enormous potential for Papua New Guinean businesses to partner with Vanuatu. However, wherever our businesses operate, they must respect local landowners, local communities and the national government, just as we expect foreign investors in Papua New Guinea to respect our own model of local participation.”
He said PNG had encouraged Vanuatu to pursue similar investment principles that ensure local communities share in the benefits of economic development. The prime minister also highlighted the potential for closer regional tourism cooperation, noting Vanuatu’s strategic location and attractive investment environment.
“Vanuatu has one of the Pacific’s most attractive investment climates and enormous tourism potential.”
This and Papua New Guinea’s expanding international air services from destinations such as Japan, China and Singapore, can complement regional tourism by connecting visitors throughout Melanesia, including Vanuatu, Solomon Islands and Papua New Guinea.
“Likewise, visitors arriving through Fiji, Australia, New Zealand and the United States can be encouraged to explore more of our Melanesian region.”
