investment

“I started from one container. I had one receptionist and a small number of workmen plus some equipment,” Managing Director Thomas Pisimi recalls.

“I did almost everything myself: the accounting, the buying of parts. I was a one-man show.”

Pisimi focused his business on providing good quality work with good accounting and management and was awarded two PNG-Australia Partnership road improvement contracts for 186km of the Coastal Highway between Madang and Bogia districts.

Governor Parkop said the visit by the Russian navy officers in their warship was historic, conveying his warm welcome to them.

During a dialogue hosted yesterday in Parliament, he commended them for showing interest in the city which is hosting the APEC Leaders’ Summit in November.

Mr Parkop said the visit was a testament of Moscow placing value in the Indo-Pacific region.

He added that the countries had a long history dating back to the settlement of Russian scientist and traveler Nikolai Miklouho-Maclay in the country from 1846 to 1888.

Chair of the APEC Business Advisory Council (ABAC), David Toua, said this recently in Tokyo, Japan, during the ABAC 2 Meeting.

Toua said the region was currently at the crossroads and urged ABAC members not to regress growth.

“One road takes us towards open markets, dynamic flows of goods, services, investment and people, and inclusive growth. The other takes us backwards towards protectionism, exclusion and regional economic slows

“We should not hold back progress in the Asia-Pacific,” said Toua.

Acting ABG Secretary for Economic Development, Albert Kinani said the entity being the business arm of the ABG is responsible for all investments made by the government and that includes the ABG’s shares in the Chebu Shipping Company and the recently acquired shares in the Bougainville Import Export General (BIEG) Corporation Limited.

Kinani explained that in the case of BIEG, the company is currently trading as a private company which under the Company’s Act of 1997 allows for people or entities to purchase shares in the company.

Air Niugini General Manager Marketing Dominic Kaumu told PNG Loop that Vanuatu needed business minded people from PNG to invest in that country.

 He said the first commercial flight by Air Niugini yesterday opened the doors to businesses to invest in Vanuatu.

"There is a lot of investment opportunities in Vanuatu.”

“Business houses in PNG and especially Small and Medium Term Enterprises must start venturing into Vanuatu and grow their business," Kaumu said.