Malaysian Investors Show Increased Interest in Investment Opportunities in Papua New Guinea
Outgoing Malaysian High Commissioner to Papua New Guinea, His Excellency Melvin Cheah Chee Aun, will be departing the country tomorrow with a sense of regret as COVID-19 has prevented him from working to assist more Malaysian investors who were eager to explore investment opportunities in Papua New Guinea.
This was revealed by the honorable Richard Maru (MP), who is the Minister for International Trade and Investment in the Marape-Rosso Government.
His Excellency Aun stated that over five major Malaysian investors have expressed interest in investing in the agriculture and manufacturing industries in Papua New Guinea.
These investors are said to be particularly interested in the downstream processing of raw materials and shipping services. The high freight rates in Papua New Guinea have made competition necessary in order to reduce the cost of shipping domestically.
His Excellency Aun has requested Minister Maru to travel to Malaysia in two weeks to meet with Malaysian investors and discuss investment opportunities in Papua New Guinea.
"I assured His Excellency Aun that I will be in Malaysia in two weeks’ time to meet with the Malaysian investors who are requesting to meet with me to explore the vast investment opportunities in Papua New Guinea,
"PNG is not new to Malaysian investors. Malaysia is already the second biggest investor in Papua New Guinea behind Australia. We are excited about more investors from Malaysia showing interest to invest in Papua New Guinea" Minister Maru stated.
Photo Credit: Hon. Richard Maru
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