CLUSTER 1 : RISKY STATE INVESTMENTS

/20 CASES LANDING PAGE/ CLUSTER 1 : RISKY STATE INVESTMENTS

Successive PNG governments have in the last decade invested public funding in ventures that lacked clear guidelines on their ownership, had no guarantees of returns on investment, lack critical financial information and did not promote public engagement. Ultimately the lack of transparency and accountability in State-funded business ventures has often led to the premature closure of the projects and the loss of millions of Kina in public funds.

CENTRAL CITY PROJECT	Cases 1.1 - The Central City Project The Central City Project at Bautama, a 30-minute drive from Port Moresby, headlines the list of risky State investment projects in the last decade. The project was commissioned by the Central Provincial Government with the support of the National Government on October 9, 2007 with the aim of establishing a provincial headquarters for the Central Province (Government, 2007). Read Details
Pacific Maritime Industrial Zone	Case 1.2-Pacific Maritime Industrial Zone The Pacific Marine Industrial Zone (PMIZ) was approved by the National Executive Council (NEC) as a concept in 2004 but was not officially commissioned until November 2015 when Prime Minister Peter O’Neill travelled to Madang and declared it open (Albaniel, 2016). A concessional loan was obtained from the Chinese government’s Exim Bank to fund what later became known as the Pacific Maritime Industrial Zone (PMIZ). Read Details
5-star Boroko casino Hotel	Case 1.3-5-star Boroko casino Hotel In September 2011 the media broke the story on a dispute between landowner companies Petroleum Resources Gobe Ltd (PRG) and Petroleum Resources Moran Ltd, the PNG Government and Korean company CMSS (PNG) Ltd. CMSS signed a contract with the government and the two landowner companies to finance, build and complete the Port Moresby Casino Hotel at Four Mile. Read Details
Sir Hubert Murray Stadium	Case 1.4-Sir Hubert Murray Stadium Work on the Sir Hubert Murray Stadium to prepare it to host sporting events connected to the 2015 Pacific Games began in September 2013 under a public-private-partnership (PPP) between the PNG government and local firm Curtain Brothers. The redeveloped stadium was to cater for 15,000 people, host rugby and soccer matches and be the home for the PNG weightlifting squad (EMTV, 2013). Read Details
Star Mountain Plaza Hotel	Case 1.5-Star Mountain Plaza Hotel In the lead up to APEC 2018, the city of Port Moresby underwent major transformations that changed the face of the nation’s capital. New infrastructure and roads were constructed and projects were introduced as investors in partnership with the National Government made preparations for the APEC summit which was held in November, 2018.  Read Details