During the opening of the Harborside Precinct and the Marriott Executive Apartments on Friday, 15th March, Prime Minister James Marape underscores the significance of such projects and Steamships contribution to the country’s economy.
“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,” Prime Minister said.
“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.”
“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.”
Prime Minister also encouraged businesses from PNG and abroad to invest in Papua New Guinea 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,” Prime Minister Marape said.
“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.”
Prime Minister Marape said the Harborside South project exemplifies the potential of integrated urban development, creating a vibrant community space.
He added that such initiatives are catalysts for urban revitalization, economic development, and community empowerment.
