PM clarifies stance on investors

Prime Minister James Marape says he is not in the business of harming foreign investors in our country.

In announcing to the country the new Petroleum Minister, he said regime shifts will also be made to ensure everyone benefits.

While laws in the resource sector are outdated and need to be reviewed to benefit everyone, including landowners, the Prime Minister has maintained foreign investors are welcome in the country.

“ExxonMobil, Total, Santos, Nippon Oil – they’ve been with us for a long time…improving in areas of greater market, content, in areas of greater participation. We are tired of being grant collectors,” stated the PM.

“I am not in the business of harming our foreign investors in our country.”

Following his election on May 30, PM Marape’s key focus will also be to take back the economy, pledging to make changes in resource laws.

“Regime shifts will be friendly to the investors, but also friendlier to our economy to benefit from the petroleum sector also. And I make no apologies to anyone, if you don’t like the way I’m speaking, pack up and leave.”

The Prime Minister said he is all about a win-win situation for all.

“I’m all about adding value to what I’m saying. I know Mr Peter Botten (Oil Search) came out in the media not too long ago, asking me to be investor friendly.

“Peter Botten knows me, I’m investor friendly. But I have also to win for the 8 million shareholders of this country, you win I win.”

Sally Pokiton