An international company from United Arab Emirates (UAE) has shown great interest in investing in Papua New Guinea.
Royal Arabian Computers is one of the companies that recently signed a Letter of Intent (LOI) with PNG during the Post Expo 2020 PNG-UAE Economic Cooperation Dialogue in Abu Dhabi last month.
They have submitted an investment proposal to partner with the Tourism Promotion Authority to create a one-stop-shop Destination PNG Digital Portal.
The company has been closely following the PNG Pavilion’s Expo journey during the thematic events, including the launch of the PNG SME Digital Economy and the Roundtable on Education, Science and the Green Economy.
Papua New Guinea’s Ambassador to Belgium and Expo2020 Commissioner General, Joshua Kalinoe who is in Dubai for the completion of the PNG Pavilion’s decommissioning exercise, met with the company and formerly received their proposal.
Ambassador Kalinoe said the proposal is an effort of the positive engagement between the company and the Pavilion Lead staff of TPA, IPA and the Department of Information, Communication and Technology (DCIT) who worked tirelessly to have the company committed to the investment.
“The Pavilion staff were aggressively implementing the target-based Participation Strategy as approved by the National Executive Council. The results have been overwhelming, beyond my expectation, where 19 LOIs in trade, finance, banking, manufacturing, construction, tourism, mining, hydrocarbon, renewable energy, carbon trade and agriculture were signed.
“In the next two months, we expect to receive some more formal investment proposals from the 19 LOIs in finance, digital banking, agriculture, information technology, hydrocarbon, mining and import/export infrastructure, including mobility and connectivity,” said Ambassador Kalinoe.
He said the whole-of-government structure in implementing international events like the World Exposition 2020, with the leadership of the PNG Foreign Service represented by Kundu Brussels. This has proven that international diplomacy is certainly relevant to achieving PNG’s economic and visibility interests.