PAPUA New Guinea’s F$85 million (K106 million) investment in a hotel resort in Fiji cements the country’s existing ties with the Fijian Government, Finance Minister James Marape says.
Speaking at the opening of The Pearl’s at Pacific Harbour last Saturday, Marape praised the Fiji government for allowing PNG businesses into its economy.
The Pearl is owned by the Mineral Resources Development Company (MRDC) and its partners from Southern Highlands, Gulf and Western provinces.
Marape stressed that relationships between nations were built on many fundamentals one of which include trade which was no exception for the two countries.
“Today (last Saturday) as we speak, we have many Fijian ventures in Port Moresby, Lae and many parts of PNG,” he said.
“Speaking as a local MP from Southern Highlands, we now like to see dividends flow in our investment.
“We have invested F$85 million in The Pearl, now we would like to know how much we will make from Fiji.”
The Pearl Resort is one of two major investments by Papua New Guinea in Fiji’s tourism industry.
Fiji’s Prime Minister Voreqe Bainimarama said: “We are certainly worthy of the confidence. Tourism in Fiji has grown by 9. 5 per cent compared with the corresponding period last year. And we are seeing a clear upswing in capital investment in the tourism sector.
“Visitor arrivals are at an all time high, not only from our traditional markets of Australia, New Zealand and North America but emerging markets such as China and India.
“This fresh investment in the Pearl is already having a positive impact on the development of Pacific Harbour.
“We all look forward to the positive spinoffs of a project that is truly unique – the first hotel and beachfront development in Fiji that also includes a river marina.”