Prime Minister Peter O’Neill has announced that plans are afoot to ensure all fish and logs resources are processed on shore.
Speaking during the Australia-Papua New Guinea Business Council Forum in Port Moresby today, O’Neill said it is the Government’s intention to have on-shore and downstream processing facilities for both the fisheries and logging sectors.
He said less than 25 percent of all fish caught in PNG waters were processed in PNG, meaning the country was losing out on around K350 million per annum.
“Today, I want to announce that we are reviewing all the agreements that we have with all the fishing companies and of course, the agreement with all the fishing processing companies in Papua New Guinea so they can comply with the agreements that we have,” the PM said.
“Our plan is that all the fish caught in Papua New Guinea must be processed here or on the very least, processed on shore.”
O’Neill added that all log exports will cease by 2020, with all logs to be locally processed.
He said this will create more businesses and employment opportunities for locals.
“All timber cut in Papua New Guinea must be processed on-shore. And we will work closely with companies who are already operating in Papua New Guinea in ensuring that this particular industry produces enough through the downstream processing opportunities that can enable the growth of housing industry and construction industry in our country,” said O’Neill.
O’Neill reiterated the government’s commitment to improving the business environment through investments in infrastructure.
He said this will pave the way from the government to broaden economic base and not rely on the resource sector, which is often subject to a ‘boom and bust’ cycle.
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