The people of South Bougainville are expected to benefit from the construction of the long-awaited Buin Market following the signing of a K12.8 million project contract.
At a formal ceremony recently held at Government House, the contract was signed between the Papua New Guinea Government and KPT Engineering Ltd, the company awarded the project.
Fully funded by the South Bougainville District Development Authority (DDA), the initiative marks a crucial investment in local commerce and economic self-reliance.
Representing the State, Governor General Grand Chief Sir Bob Bofeng Dadae formally executed the agreement, joined by Department of Works and Highways Secretary Gibson Holemba and KPT Engineering representatives Charles Sim, Charles Jachwa, and Acezel Lauc.
The project is scheduled for completion within 12 months.
The Buin Market’s development represents more than just a construction achievement—it is a project focused on the community, designed to enhance livelihoods and support regional commerce.
Once it is finished, the market will serve as an essential center for farmers, vendors, and small business proprietors, improving their access to wider commercial networks, including trade across borders with the Solomon Islands.
Secretary Holemba commended South Bougainville MP and Minister for ICT, Timothy Masiu, for advocating for this initiative.
He referred to the market as a “strategic investment” that aligns with the Medium-Term Development Plan IV and is part of a larger vision to yield genuine economic benefits from ongoing infrastructure developments in the area.
He also emphasized that road infrastructure managed by the government does not produce income by itself, underscoring the need for investments in social infrastructure—like markets, fisheries, and agriculture—to yield economic benefits from road projects.
With construction now set to begin, the Buin Market promises to be a game-changing development for South Bougainville—supporting local enterprise, strengthening trade ties, and laying foundations for long-term economic growth.