Wednesday, December 17, 2014

Daewoo International demonstrates confidence in Papua New Guinea economy

Office of the Prime Minister
Papua New Guinea

Prime Minister Peter O’Neill  has welcomed Daewoo’s ongoing commitment to Papua New Guinea. 
During a courtesy call by the Daewoo International’s president, Byeong Eal Jeon, and senior executive vice-president, Jeong Hwan Park, O'Neill, accompanied by the Minister for Public Enterprise and State Investment, Ben Micah, thanked the company for its enthusiasm for expanding operations in PNG.
From left are Byeong Eal Jeon, Minister Ben Micah, Byeong Eal Jeon, and Prime Minister Peter O'Neill 

O'Neill said Daewoo was a major international company that recognised the investment and business potential of PNG and was seeking to deepen involvement in the economy.
“Our door is always open to international investment and the introduction of new technologies and processes," he said.
“Companies like Daewoo bring with them knowledge that has been gained around the world that can then provide solutions to challenges faced in a geographically diverse country like Papua New Guinea.”
Jeon provided an overview and presentation of current projects Daewoo is currently operating around the region and would like to further expend in PNG.
These include engagement in power generation, the construction of modular housing and transportation infrastructure.
“Mr Jeon has provided an assurance that Daewoo’s operations in Papua New Guinea will work accordance and national standards and environmental requirements,” O’Neill said.
“It is important that our people can physically access electricity, and that this energy is provided at a cost that is affordable to families. 
“Keeping costs down also expands the revenue base for energy providers and we ask all related companies to be aware to ensue they factor affordability into their business plans.”
Jeon advised PM O’Neill that Daewoo International was looking forward to presenting proposals to the Government on future major infrastructure projects as these open to tender processes.

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