A delegation of South Koreans was in Papua New Guinea (PNG) this week on a mission to explore investment opportunities in the country, especially in the poultry industry.
The Minister for International Trade and Investment, Richard Maru, met with the group where he said this was the first visit of South Koreans to PNG this year.
In the delegation were representatives from Charmfre Inc, the second largest Korean chicken company and a leading animal welfare chicken company with global presence who are looking at a possibility to invest in the poultry industry in PNG, something which Minister Maru is excited about.
“PNG is a net importer of chicken. We are currently importing over K200 million worth of chicken annually, which means we are not producing enough chicken to meet our own domestic demand. Port Moresby does not have a major poultry operation. Our city is supplied from Lae and that is why the cost of chicken is very high because of the freight cost,” said Minister Maru.
“We need some global players like Charmfre to partner with the National Government, the Central Provincial Government and with Papua New Guinean companies to invest in a major poultry operation within the Central Province. Our need is not only broiler meat but also eggs and day-old chicks. We are looking at a major investor who can operate in the entire value chain of a chicken, including exports.”
Minister Maru also indicated to Charmfre that a poultry project in Central Province will be considered a Special Economic Zone (SEZ) where we will offer incentives.
“The Marape-Rosso Government is keen to replace all chicken imports and be a net exporter of chicken. Partnerships with countries like Korea and its leading poultry companies who own global export brand like Charmfre would be a very exciting investment prospect,” added Minister Maru.
Chairman of the PNG Poultry Industry Association, Mr. Chris Prestwood, further supported this by saying: “We have had difficulties in chicken supplies this year with number one reason being the countries that we have been importing chicken from being hit by avian influenza. It is critically important that our industry builds capacity by having our government opening doors for other countries to come and partner us to create that capacity.”
“We have to overcome malnutrition, stop importing and create opportunities. Over the next ten years, the poultry industry needs to invest more than K1.2 billion to ensure we meet these milestones. We have the potential.
Meanwhile, he said existing local producers are doing wonderful job. This year, production in PNG has grown by 40 percent which Mr. Prestwood said is tremendous.
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