The PNG Forest Authority and Tikana Tree Plantation Landowners Association signed a memorandum of agreement yesterday in Port Moresby.
The signing paves the way for the commercialisation of the customary land belonging to Tinaka LLG of Kavieng, New Ireland Province.
The landowners of Tikana LLG have freed up their entire land and have given it to PNG Forest Authority for commercial forest plantation and associated infrastructure development.
This afternoon's MOA signing now establishes the framework for business partnership arrangements between the Tikana landowners and PNGFA and provides certainty to the developer in undertaking long term investments.
The main objective of this partnership is to commercialise the mature tree plantation and develop additional plantation areas and sustain respective investments.
President of the Tikana Tree Plantation Landowners Association, Henry Penni, said the MOA signing was a culmination of 30 years of hard work.
The LOs said this is a path landowners should take to generate revenue and be equal participants in the country's economy as indigenous owners.