By Roselyn Erehe
The New Ireland Development Corporation (NIDC) is intensifying efforts to attract strategic investment and establish new partnerships as part of a broader strategy to drive economic growth, create employment and expand commercial opportunities across New Ireland Province, Papua New Guinea.
New Ireland Governor Byron Chan said the corporation is beginning to deliver on its renewed mandate following a series of high-level engagements in Port Moresby led by NIDC Managing Director Christian Tarkap.
The investment mission included meetings in the first week of July, with the Asian Development Bank Country Director, the National Fisheries Authority and Credit Corporation management to explore investment opportunities and build strategic partnerships that support NIDC’s long-term development agenda. Governor Chan accompanied Tarkap in some of the discussions.
Governor Chan said the engagements demonstrate the corporation’s transition from planning to actively pursuing investments that will benefit communities throughout the province.
“This is exactly the direction we want our provincial investment arm to take. NIDC must be visible, proactive and constantly seeking opportunities that will bring investment, create employment and stimulate economic activity throughout New Ireland,” he said.
He added that the Provincial Government remains committed to building a stronger provincial economy by establishing partnerships with credible investors who share its vision for sustainable development.
Tarkap said the primary objective of the Port Moresby meetings was to establish a partnership framework that aligns the financial capabilities of potential investors with NIDC’s mission of delivering sustainable economic development.
“The discussions centred on how we can work collaboratively to support the corporation’s investment drive. We were honoured to meet with high-profile representatives from key government departments and the private sector. The dialogue was productive, fostering a shared vision for New Ireland’s future and establishing a pathway for projects that will benefit our people,” Tarkap said.
Governor Chan said the corporation’s progress reflects reforms introduced by the Chan-Kolivos Government following the appointment of a new board and management earlier this year.
The Provincial Executive Council restructured NIDC with a mandate to restore investor confidence, strengthen corporate governance and reposition the corporation as New Ireland’s principal commercial investment vehicle.
Since its re-establishment, NIDC has focused on rebuilding investor confidence, improving governance standards and identifying commercial opportunities capable of generating long-term provincial revenue.
As part of its investment strategy, the corporation has established a Technical Project Working Committee comprising professionals from the agriculture and fisheries sectors, supported by technical advisers from Kokonas Indastri Koporesen and the Coffee Industry Corporation. The committee has been tasked with developing projects that will directly benefit farmers and rural communities across New Ireland’s ten Local Level Governments.
NIDC is also progressing several Provincial Executive Council-endorsed investment proposals, including the proposed Malagan International Five-Star Hotel, the Arrow Trading three-storey retail and supermarket complex, the Section 5 Commercial Shopping Mall and a Joint Venture Fishing Project.
Governor Chan said the projects represent the start of a broader economic strategy aimed at creating jobs, supporting local businesses and increasing provincial revenue.
“NIDC was never intended to be a passive organisation. It was established to become the commercial engine of New Ireland, identifying opportunities, attracting investment and creating wealth that benefits our people,” he said.
He said the corporation’s responsibilities also extend beyond major commercial developments through its nine subsidiary companies, which have a mandate to promote investment and economic participation across all ten Local Level Governments to ensure development reaches both urban and rural communities.
The Provincial Government expects NIDC to continue exploring opportunities in agriculture, fisheries, tourism, property development, manufacturing and downstream processing while supporting local entrepreneurs and small businesses.
Governor Chan said attracting responsible investment remains a key pillar of the Chan-Kolivos Government’s development agenda, alongside initiatives that include restoring tertiary education subsidies, supporting women entrepreneurs through the Empowering Mama Bilas Peles Program, pursuing international education partnerships and repositioning NIDC to lead commercial development.
NIDC reaffirmed its commitment to working with government, investors and development partners to deliver sustainable commercial projects that create employment, generate provincial revenue and contribute to the long-term economic development of New Ireland Province.