2 weeks Ago By Steven Busin
The Bougainville Public Investment Corporation Limited has identified two immediate projects to be included as immediate impact projects to pave a pathway to economic recovery for Bougainville’s independence under the Bougainville Economic Development Plan. The BIPCL, in its board meeting at the Holiday Inn VIP Room in Port Moresby last week, identified these two impact projects, which are Balsa and Cocoa, for the Autonomous Bougainville Government to take the lead as the key exporter. Under the arrangement, BIPCL will take charge of the commercial and trade aspects of these products.
They have also identified Kuruwina Plantation, an expropriated plantation currently owned by the state, to have its land used for Balsa and Cocoa. The BIPCL has identified these two projects as economic impact activities that would double within the next three years to deliver Bougainville its economic independence. To ensure that these projects have the dual support of the ABG and National MPs at political and financial fronts and that the National Government is committed to funding these short-term impact projects.
To push forward these short-term projects, a special project implementing team will be set up to take charge of driving the implementation of these projects. Bougainville is currently the leading producer of cocoa in PNG; however, it has been missing out on the export revenue of cocoa produced within the region. It has also ventured into Balsa production and now hopes to make it a leading export commodity for the region.
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