Thailand companies have expressed interest to invest in Papua New Guinea only if the government can provide incentives for them to invest in the country.
Minister for International Trade and Investment, Richard Maru said this following his visit to Thailand last week.
Mr Maru said during their visit, leading Thai companies have expressed interest to invest in PNG if the government is able to provide land, electricity, good roads, wharves and all the enabling infrastructure and incentives to come and set up world class industries to mainly assist them to meet growing world demand for their quality products for countries in the ASEAN region like Indonesia, Australia and our own domestic market demand and Indo Pacific region.
He said by building a strong trade and investment relationship with the Government of Thailand, the private sector of Thailand, targeting potential investors and the people to people ties with Thailand, the Thai investors can help us develop our vast agriculture, fisheries and manufacturing industries.
“We were amazed when they told us that Japan has 30,000 companies operating in Thailand and they employ over 1 million people from Myanmar to assist with low-cost labour in their manufacturing industry, to ensure they continue to be a low-cost producer of goods and services for the world.
“They have developed their tourism industry and today enjoy an influx of 40 million tourists a year.
“Thailand has moved to industrialisation starting with manufacturing first all their agriculture products and now they have moved to automobile and other hi-tech industries.
“I was inspired by the trip because I envision if we follow the same path as Thailand and the same trajectory, our PNG economy can be transformed over the next 20 years if we develop a long and enduring partnership with Thailand and benefit from their business models, capital and technology, and their leading global brands and reputation and access their well-established global markets.”
Meanwhile, the first large scale investor that the delegation met and have invited to come to explore investment opportunities in PNG are scheduled to arrive in Port Moresby early next month.
Mr Maru said his ministry and the department will work to invite more Thai investors to invest in PNG as a major focus of Marape-Rosso government’s economic growth initiative.