Prime Minister James Marape says the Papua New Guinea economy, now worth K80 billion, will be worth K200 billion by 2029.
He said this yesterday at the ground-breaking ceremony for Steamships’ K250 million Harbourside South project in Downtown Port Moresby.
Prime Minister Marape said the economy had grown substantially since 2010, with a lot more room for growth.
“Let me assure investors like Steamships, that your continued presence in our country will not be in vain,” he said.
“If one LNG project could have expotentially grown our economy from a K30 billion economy in 2009 to an K80 billion economy in 2019, we are now turning in the right direction.
“Our new leadership is in the business of mobilising resources, harnessing resources, mobilising partners who are in the business of growing our economy.
“We continue to escalate the positive trajectory of our economy.
“I give you my greatest assurance that our economy, by 2029, will go past K200 billion.
“This is a commitment I’m giving to the nation, and to participants in our economy.
“You ask me where it’s coming from: We are focused to deliver a minimum three more trains of LNG in the next 10 years.
“On the back of three trains of LNG, on the back of Wafi-Golpu, on the back of a possible relook at Porgera gold mine, and on the way of other projects, including our own Government’s signature special economic zones we will deliver right across our country for investors like Steamships.
“We are absolutely sure within the next 10 years, we will grow our economy from below K100 billion to an economy that will push past K200 billion within the next 10 years
Prime Minister Marape commended Steamships Managing-Director Michael Scantlebury and his team for their continued presence in the country.
“You (Steamships) have been here since 1908, if I am not wrong,” he said.
“Since 1908, many have come and gone, but Steamships maintains its presence in our country and not only a presence, but a robust, vibrant and active presence in our economy.
“For that, let me thank you, the Steamships Group of Companies, on behalf of the people of Papua New Guinea.”
Harbourside South is a massive project, to be completed by May 2022, which will transform the city.
It will be a 21-storey mix-use development connecting the heart of the city to the harbour.
It will introduce over 16,000 square-metres of car park space, over 800 sq. m of commercial, retail and leisure space, and 88 prime residential units in Port Moresby’s thriving Downtown.
A key design feature is the airconditioned walkway over Stanley Esplanade that will connect Harbourside South to Harbourside East and Harbourside West.
He said this yesterday at the ground-breaking ceremony for Steamships’ K250 million Harbourside South project in Downtown Port Moresby.
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| Prime Minister James Marape (third from left) officiating at the groundbreaking ceremony for Steamships' K250 million Harbourside South project in Downtown Port Moresby yesterday. This is a massive project, to be completed by May 2022, which will transform the city. It will be a 21-storey mix-use development connecting the heart of the city to the harbour.It will introduce over 16,000 square-metres of car park space, over 800 sq. m of commercial, retail and leisure space, and 88 prime residential units in Port Moresby’s thriving Downtown.A key design feature is the airconditioned walkway over Stanley Esplanade that will connect Harbourside South to Harbourside East and Harbourside West. |
Prime Minister Marape said the economy had grown substantially since 2010, with a lot more room for growth.
“Let me assure investors like Steamships, that your continued presence in our country will not be in vain,” he said.
“If one LNG project could have expotentially grown our economy from a K30 billion economy in 2009 to an K80 billion economy in 2019, we are now turning in the right direction.
“Our new leadership is in the business of mobilising resources, harnessing resources, mobilising partners who are in the business of growing our economy.
“We continue to escalate the positive trajectory of our economy.
“I give you my greatest assurance that our economy, by 2029, will go past K200 billion.
“This is a commitment I’m giving to the nation, and to participants in our economy.
“You ask me where it’s coming from: We are focused to deliver a minimum three more trains of LNG in the next 10 years.
“On the back of three trains of LNG, on the back of Wafi-Golpu, on the back of a possible relook at Porgera gold mine, and on the way of other projects, including our own Government’s signature special economic zones we will deliver right across our country for investors like Steamships.
“We are absolutely sure within the next 10 years, we will grow our economy from below K100 billion to an economy that will push past K200 billion within the next 10 years
Prime Minister Marape commended Steamships Managing-Director Michael Scantlebury and his team for their continued presence in the country.
“You (Steamships) have been here since 1908, if I am not wrong,” he said.
“Since 1908, many have come and gone, but Steamships maintains its presence in our country and not only a presence, but a robust, vibrant and active presence in our economy.
“For that, let me thank you, the Steamships Group of Companies, on behalf of the people of Papua New Guinea.”
Harbourside South is a massive project, to be completed by May 2022, which will transform the city.
It will be a 21-storey mix-use development connecting the heart of the city to the harbour.
It will introduce over 16,000 square-metres of car park space, over 800 sq. m of commercial, retail and leisure space, and 88 prime residential units in Port Moresby’s thriving Downtown.
A key design feature is the airconditioned walkway over Stanley Esplanade that will connect Harbourside South to Harbourside East and Harbourside West.
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