ABG President, John Momis said that South Bougainville has taken a lead with developing its primary industries with support from foreign investors to operate on with equal benefit sharing arrangements as per Bougainville’s Inward Investment Act.
Momis said that in areas that are lacking, the ABG has always encouraged partnerships between locals and credible foreign investors who can contribute meaningfully to Bougainville’s economy.
“I must acknowledge in this instance the initiatives been taken by Bougainvillean resource owners in the Agriculture sector such as the (Konnou)Tonolei Integrated Agriculture Initiative and the Bana District Development Initiative including the formation of Cooperative society groupings by Bougainvillean’s in North, Central and South Bougainville.
“These people must be commended for organising themselves to make the environment conducive for development and for taking the bottom up approach in consultation with the ABG,” said Momis.
Momis also commended the continued efforts of the private sector in Bougainville for being able to persevere during these hard economic times to continue to grow their businesses, provide employment and provide much needed services to both government and the people.
Momis also encouraged businesses in the agriculture and tourism sectors to continue to improve their business products and also encouraged those that have the capacity to start looking at the manufacturing sector as they grow their business in order to develop Bougainville’s economy.
“In order to create a conducive environment for business investments and industry to thrive, we need relevant infrastructure as enablers to help develop the economy of Bougainville.
“I am confident to say that we are on the right track to fulfilling this aspect of our development,” said Momis.