Nisira: People and Government must work together to build Bougainville’s economy
Plans are underway to build Bougainville to become a vibrant, resilient and prosperous nation in the Pacific by 2030.
ABG Minister for Commerce, Trade and Industry Hon. Patrick Nisira, announced this in parliament this week, saying that his Ministry has progressed significant efforts under the Bougainville Economic Development Strategic Framework.
Minister Nisira said that his Ministry together with all economic sector agencies, has begun work to develop an economic model and an economic development strategy that provides a roadmap for all agencies to know their role in creating an enabling environment that supports Bougainville’s economic growth.
Minister Nisira also announced that the Bougainville Executive Council has endorsed the Bougainville Economic Quick Win Plan.
“The Bougainville Economic Quick Win Plan is the short term economic plan which will run for 3 years (2021 – 2023), whilst the medium and long term plans are being devised,” Minister Nisira said.
“The approach of implementing the BEQWP as part of the short term plan will focus on thematic areas of investment that will have rates of return in the shortest time possible with less cost to implement,” he said.
These include:
- Agricultural projects (forestry, agriculture, fisheries, organic farming of high value crops and livestock farms)
- Mining projects such as Manetai limestone and small scale mining
- Projects that involve making land more available for economic development
- Transport improvement projects
- Infrastructure improvement including power supply (solar and hydro)
Minister Nisira said that other projects under the quick win plan involves commercial projects that partner with investors to look at developing pre-existing industries or creating business opportunities in underdeveloped industries in the region.
“Some of these commercial projects will include Bougainville Water Bottling, Gold Refinery, Bougainville Savings and Loans, Bougainville Petroleum, Real Estate and Property Development in Bougainville and in other parts of PNG, establishment of Special Economic Zones, tourism promotion and hubs,” he said.
Meantime, the Economic Sector ministries and departments in Bougainville will continue to progress and resolve any policy issues required to facilitate the implementation of these projects.
“All these initiatives are imperative for a sound foundation for future economic growth,” he said.
Speaking on his Ministry’s priorities over the remaining months of 2021, Minister Nisira explained that the key focus will be on strengthening institutional capacity covering legislation, technical capacity and administration to ensure a full functioning governance system to regulate and monitor all matters in the economic sector.
His Ministry will also continue to develop Bougainville’s economic model, improve establishment and operationalization of regulatory bodies in the economic sector and progress implementation of the quick win plan to ensure the government is in the required financial position to support future larger investments.
Minister Nisira challenged and called on all sectors of Government, people and groups of Bougainville, to work with his Ministry and the Economic Sector to plan and raise Bougainville’s economy.
“Let us raise the economic indicators that promises a Bougainville which is in a position to effectively and efficiently manage its own economic affairs as an independent nation,” he said.
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