THE continuing investment by Chinese companies in the country has resulted in more than 10,000 jobs created for locals, according to Chinese Ambassador Yang Xiaoguang.
“An increasing number of Chinese enterprises are investing and operating in PNG, covering a wide range of fields including infrastructure, energy, minerals, electricity, telecommunications, agriculture, forestry, fisheries, wholesale and retail,” he said.
“Chinese businesses have invested in and constructed projects such as the Edevu hydropower and the Napa Napa solar power project.
“The Noble Centre, built with investment from a Chinese firm, is the tallest building in the Pacific.
“These companies have directly employed more than 10,000 PNG staff and the number of indirect jobs created are much more.
“(They) are committed to conducting business with integrity and in compliance with the law, and actively give back to society, making significant contributions to PNG’s economic and social development.”
Yang said the recent China-PNG business roundtable held in Guangdong brought together representatives from more than 250 companies in the two countries was a success.
It followed by the signing of the framework agreement on enhanced economic partnership by China’s minister for commerce Wang Wentao and International Trade and Investment Minister Richard Maru last month.
“In recent years, annual bilateral trade volume has remained at around US$4 billion (about K17.6 billion), with PNG consistently maintaining a substantial trade surplus,” Yang added.
“The year is only halfway through, and I believe the exchanges and cooperation between China and PNG will be even more remarkable in the second half as we are ready to strengthen our economic and trade links.”
Yang said that China was ready to welcome Prime Minister James Marape and his delegation when they attend the Apec economic leaders’ meeting in November.
