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May 15, 2021
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PNG: Important Avenue for Economic Investment in the Pacific

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By Theckla Gunga – EM TV, Lae

PNG’s Deputy Prime Minister, Leo Dion says more Pacific Island countries are seeing Papua New Guinea as an important avenue for economic investment. He made this remark at the opening of the Ela Motors Logistic Centre in Lae, this morning.

His comments follow the increase in economic activities in Port Moresby, Lae and Mount Hagen.

Papua New Guinea is experiencing an economic boom with the construction of national highways, infrastructural developments and the expansion of private businesses into provincial towns.

Today, the Ela Motors Branch in Lae opened its new logistic centre increasing its business commitment to the nation. This will see the increase in supply of new vehicles and spare parts to customers, mainly government departments and PMV operators in Morobe, Madang and the Highlands provinces.

The new centre sits on 38 000 square meters of land, and houses three core functions, which were previously spread out across a number of sites. These functions include a distribution centre, vehicle bond yard and a holding area for up to 320 vehicles.

Dion said the nation is experiencing a degree of development and with the expansion of Ela Motors Logistic Centre, Ela Motors is contributing to the economic development of PNG through the provision of fleet.      

Ela Motors itself is a Papua New Guinean Company with its shareholders being Toyota Tsusho South Pacific Holdings Pty. Ltd., MTSL, Nambawan Super Limited, National Superannuation Fund, Defence Force Retirement Benefits Fund, QBE Insurance (PNG), and over 70 other minor shareholders.

https://youtube.com/watch?v=zY11XIc3b00%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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