Photo credit: Twinza Oil - Pasca A Project
After the general election, getting significant resource projects off the ground must be a top priority for the administration, according to an official.
Rio Fiocco, head of the Port Moresby Chamber of Commerce and Industry, said these initiatives will bring in foreign cash and help to the country's overall economy.
He said that the projects' spinoffs will assist not just large corporations, but also small and medium-sized firms (MSME).
“The business community is waiting to see some of these major projects get moving, in particular, the Pasca project and of course, the Porgera project restarting and the Wafi-Golpu project to get underway,” Fiocco said.
“We would hope that those projects get moving quickly so that more jobs are created and the economy can grow.
“It will give a boost to all businesses, not just big businesses but small and micro-enterprises.
“You look at for example the case of Porgera, all road contractors have missed out, all workers of the mine have lost jobs, even farmers supplying fruits and vegetables to the mine have no customers.
“So yes, the spinoff benefits of getting any of these major projects underway is very strong. It also boosts the foreign exchange with the export of gold which will bring dollars into the country.”
Reference: The National (20 May 2022). “Govt should focus on resource projects: Fiocco”.
