Logging landowners eyeing fisheries

Landowners in Sandaun Province are trying their hands at fisheries in an effort to reinvest their logging income.

The customary landowners of Amanab 1-4 and Imonda consolidated forest management area (FMA) will provide seed capital for the development of the Vanimo Coastal Fishery Development (VCFD) project.

VCFD chairman Kevin Yehiura Muriki said the K18 million project will be managed by Paradise Tuna Corporation Ltd.

The project site will be at Ningra Village, about 2km outside Vanimo town.

Muriki said the project’s main aim is to reinvest and diversify the landowners’ revenue.

The chairman explained that it is a means of income generation once all trees are depleted.

“(Also) as part of the landowner investment for revenue generation, to bring basic services to rural areas where government services are lacking and also grow local economy,” Muriki told Loop PNG

He added that a stakeholders meeting will be held on Friday in Vanimo to approve the second phase of the project, which is the equity funding to start technical feasibilities studies of the project.

In attendance will be landowners, provincial and district government representatives, officials from Fisheries Authority, PNG Customs, Foreign Affairs and Investment Promotion Authority. 

Funding for the project will come from Amanab 1-4, Imonda Project area development trust fund and PNG Forest Authority – log export development levy (under Section 121A).

Author: 
Charles Yapumi