12 Apr 2007

Malaysian firms urged to invest more in PNG infrastructure

3:13 pm on 12 April 2007

Papua New Guinea's government has urged Malaysian companies to invest more in infrastructure in PNG, not just in forestry.

The first secretary of PNG's Ministry of Foreign Affairs, Dr Willie Ako, made the call while attending a Turkey/Asia/South Pacific business summit in the Turkish city of Istanbul last week.

Malaysia's investment in PNG is second only to Australia and currently accounts for some three billion US dollars mainly in the timber industry.

However Dr Ako says there is an urgent need to establish the infrastructure of the country and the Government is looking to Asia.

He is urging Malaysian companies to invest in infrastructure projects worth billions of dollars in his developing country.

"They have to give back, like in road infrastructure, airport redevelopment, re-planting of forests, all those things where we need assistance. They [Malaysians] invest a lot in this country, apart from Australia, but only in forestry."

Dr Willie Ako