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Re: ONLY VILLAGE CONMEN, WAIGANI THIEVES & FOREIGN INVESTORS WANT THESE MINES, LNG PROJECTS,

June 18 2010 at 10:20 AM
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Response to ONLY VILLAGE CONMEN, WAIGANI THIEVES & FOREIGN INVESTORS WANT THESE MINES, LNG PROJECTS,

It is quite obvious that the writer is frustrated (like many of us) on the inability of translating resource wealth to equate the delivery of services to our people. Yes, its been a hard lesson for our people. They have had to endure environment destruction, cultural degradation and the tragedies of social ills such as crime and AIDS. They have suffered from mismanagement of their chiefs squandering lifestyle. They have fought amongst themselves for the benefits and we know many have died in this tragedy.

But wantoks, this is the growing pain of development. You simply cannot avoid these costs; they are part of our progression. What is perhaps positive and this is where I have great divergence with the writer, is that his/her comments do lack appreciation on the positive developments landowners have done in the past 30 years. The MRDC that currently manages and assists 9 landowning companies have become one of the greatest success stories in PNG. Whats more amazing is that the MRDC and its companies are wholly owned and in most cases, operated by PNGns. Thats right, our people. From all the suffering the landowners have endured, their sons and daughters have prevailed in gaining higher degrees around the world to manage their resources.

These companies have acquired and invested in major service sectors of real estate, construction, banking, equities, aviation, health and education services, catering, insurance etc Their assets have been in positive growth for many years and they are indeed leading the diversification of our economy from natural resource based to a services economy. It is a resounding success in that many PNGns are benefiting from their ventures. Accountants, insurers, engineers, pilots doctors, chefs and many more are employed by them. The impressive fact is that that it is not only landowners but other PNGns as well.

They have also ventured into providing technical assistance to other landowning companies in other resource projects. Some landowners in the forestry sectors have consulted MRDC on investment management and have signed JV agreements with some of their construction and catering companies. They have also actively negotiated major contracts in the LNG project. Most notably, the acquisition of Heavy Lift to operate cargo to Komo and other sites.

They are indeed leaders of intra investment in PNG and they are far more aggressive and ambitious than international investors. They are a growth sector and its only fair they are recognized for their contribution to PNG.

I know its hard for many of us to fathom landowners been intelligent because we all maintain a stereotype perspective of their Stone Age lifestyle who are vulnerable and displaced in their own land. But guys, they are fast becoming our Wall Street hawks and theyre doing this with so much drive and ambition.

 
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