24 C
Port Moresby
July 13, 2020
Business News

Creating A Participatory Economy

The Lae Tidal Basin Project in the Morobe Province is one of the largest economic projects in the country.

 

Its estimated cost is over K700 million.

So far, 800 million cubic meters of seafloor have been dredged, creating a foundation for the new wharf facilities, to be constructed.

 

But the project is also taking into account the growing rate of unemployment in the country.

 

Project manager, Jian Hua Ma says the project is looking at cutting down PNG’s unemployment rate which stands at about 2 %.

 

The unemployment rate in Papua New Guinea has been one of the much talked about agendas in recent years. 

 

But resource development projects in the country are expected to cut down the high unemployment levels.

 

Project Manager, Jian Hua Ma says PNG can reduce its unemployment rate though large projects.

 

Mr. Ma says currently, there are about 700 workers employed to construct the new port facilities and more than 400 are local people.

 

While businesses are poised to expend in the province, the Morobe Provincial Government also wants to make sure that there is equal participation.

 

Morobe Governor, Kelly Naru have been outspoken about landowners and other ordinary Papua New Guineans who are marginalized from developments taking place on their own land.

 

Naru during a business gathering last year said it is his concern to see landowners become active participants in the business activities that are happening on their own land.

 

Similar bigger development like the Lae Tidal Basin Project will be happening in the next few years.

 

These include the Lae-Nadzab four-lane highway, the Wafi Gold Mine in the Wau-Bulolol District and the LNG project in the Southern Highlands Province.

 

The establishment of these multimillion kina development projects is expected to create more job opportunities for the unemployed.

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