Posted By Staff Reporter
THE Papua New Guinea economy largely depends on development projects in the resource sector, according to the PNG Chamber of Mines and Petroleum. Chamber vice-president Richard Kassman said during the National Content conference in Port Moresby yesterday that good government policies directed the mining and petroleum development projects to contribute more to the economy. “It impacts the economy through skilled labour employment and international and national stake holder business investment opportunities,” he said. The conference is aimed at developing shared value in trade, investment and business opportunities between the Government, private sector businesses and project developers to strengthen and build the country’s health, education, infrastructure, energy and socio-economic development areas. “The PNG economy largely depends on development projects in the resource sector,” Kassman said. “The Government aims to drive a national content policy that centered on shared value systems Papua New Guineans have been taught for generations.” Kassman said the national content policy promoted the participation and development of national capital, labour, goods and services and technology in the planning and development of major resource projects. The policy is expected to incorporate other economy-stimulating policies like the recently circulated draft manufacturing policy and national trade policy.
It would act as a guideline on how the government looks at creating sustainable businesses, economic and employment opportunities for generations after mining development projects cease. Kassman said the country’s young unskilled labour from schools and tertiary institutions as the key toward increasing the country’s skilled labour in trade areas like heavy equipment fitters, operators and technicians. “The Government’s focus is on using a methodology to select development projects that are sustainable and that would influence the country’s government business and public-private partnerships through investments in agricultural farming and small-to-medium enterprises (SMEs) and encouraging national entrepreneurship.” The National / PNG Economy Watch also read Comments are closed.
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