Thursday, March 29, 2012

Prime Minister calls on investors to show commitment


PRIME Minister Peter O’Neill last night called on investors to show genuine commitment as PNG’s development partners, The National reports.
He was at the launch of Oil Search Ltd’s multi-million kina Oil Search Health Foundation at the Gateway Hotel in Port Moresby.
The foundation will employ more than 80 people, a budget of more than A$24 million (K48 million) in its first year of operations and work in nine provinces of PNG.
The project represents a long-term commitment by Oil Search to make a positive difference to society.
Oil Search managing director Peter Botten said PNG had been good to the company and it wanted to put something significant back into the country.

Prime Minister Peter O’Neill and Oil Search managing director Peter O’Neill at the launch of the Oil Search Health Foundation at the Gateway Hotel in Port Moresby last night.-Nationalpic by MALUM NALU
O’Neill said establishment of this registered non-government charity sends out an important message to all existing and intending investors, especially in the extractive natural resources sector of our economy.”
“That message is for investors to show genuine commitment as our nation’s development partners and being appreciative corporate citizens by truly delivering their share of social and community development obligations.
“In a nutshell, Oil Search seems to be saying to other investors and businesses to give something back to the nation that hosts their successful businesses.
“That is a good message.
“Our government and our citizens will always be grateful to the companies that give some social or community service back to the communities in which they operate – even if these were just token obligatory services.
“These obligations, including assisting in development and provision of basic life support services, are honourable.
“Our citizens need services such as clean water supply systems, rural electrification, upgrading roads and bridges, and other community needs in resource project development areas.”
O’Neill admitted that the government could not meet all the needs and obligations of the people.
Botten said PNG had been good to Oil Search.
“It has provided the vast majority of our people, and almost all of our assets, over many years of hard and dedicated work,” he said.
“Oil Search has grown with it, and been part of it, the fabric of the country, since 1929.”
Botten said as PNG went through massive economic and social changes, Oil Search as a major corporate entity in the country needed to be assisting in managing the huge challenges that these changes represented, and one such way was though the health foundation.
“We have also built upon our relationships with government, the National Department of Health, the skills and capacity of donor agencies and agencies such as the Global Fund, AusAid, Asian Development Bank, MMV and others to work towards a new private/public partnership,” he said.
“This is a new way of utilising respective respective skills between the private sector, government and NGOs, in order to make a positive difference to the communities in which we work.”

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