GARAMUT’S K100M MALL

By NEVILLE TOGAREWA

PRIME Minister Peter O’Neill has reiterated that his Government is committed to supporting Papua New Guinea’s future economic growth through the provision of a stable and conducive environment for investment to help business and industry.
This was Mr O’Neill message he delivered to investors and the people of PNG at the official opening of Garamut Enterprises waterfront foodworld and variety shopping complex in Port Moresby yesterday (Friday).
National Capital District’s latest shopping mall is owned by Sir James Tjeong and his family. The complex cost more than K100 million and will provide jobs for about 800 people.
The Prime Minister thanked Sir James for demonstrating confidence in PNG as a investment destination, adding Garamut “deserves its place as a leader in the national business community”.
“Our Government supports serious investors and entrepreneurs who are in our country as development partners to do business and diversify their investments to underpin our national economic development,” Mr O’Neill said.
“Furthermore, our Government is committed to supporting the future growth of our nation through the provision of a stable investment environment,” he said.
“Within that relationship, our Government is confident that we can begin to deliver on core issues that our country faces – education, health, infrastructure and law and order,” the Prime Minister said.
“The new Garamut Enterprises retail complex falls squarely in the Government’s vision to develop infrastructure, including commercial and business hubs that support economic growth and give our people the ability and a chance to improve their lives,” Mr O’Neill said. “Our Government is committed to creating an environment which will help support small and big businesses, which are the engine room of our nation’s growth and prosperity,” he said.
The Prime Minister said economic conditions have been good for PNG over the last 10 years, with the economy growing at nine percent a year.
“We expect that growth to continue over the medium term,” Mr O’Neill said.
East Sepik Governor Sir Michael Somare was also present at the official opening.
“We support without bias any development that contributes to social and economic development of PNG,” Sir Michael said.
He said the Tjeong family has contributed through their business in remote areas like Wewak, Vanimo, Aitape, Maprik and Angoram over many years.
“This latest project brings the Tjeong family’s total investment to more than K200 million in the country. If this is not commitment, I don’t know what is,” the Chief said.
He said Garamut Enterprises’ next development phase on its waterfront project will include restaurants, bars, bistro and other specialty shops.