Governor Chan Welcomes NIDC’s Investment Drive as Corporation Pursues New Partnerships for New Ireland

New Ireland Governor Byron Chan has expressed strong support for the New Ireland Development Corporation's (NIDC) renewed focus on attracting strategic investment. He stated that the corporation is beginning to fulfill its mandate to drive economic growth, create jobs, and unlock commercial opportunities for the province's residents.

These initiatives follow a series of high-level meetings in Port Moresby led by NIDC Managing Director Christian Tarkap. Tarkap, accompanied by Governor Chan in some instances, has been actively pursuing investment and partnership opportunities since taking office. Engagements included meetings with the country director for the Asian Development Bank, the National Fisheries Authority, and the management of Credit Corporation.

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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.

Governor Chan emphasized that these engagements signal a shift from planning to active pursuit of investments beneficial to the province's communities. He stressed the need for NIDC to be visible, proactive, and consistently seek opportunities that will stimulate economic activity throughout New Ireland. "Our Government is committed to building a stronger provincial economy, and that means establishing meaningful partnerships with credible investors who share our vision for sustainable development," Chan stated.

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Our Government is committed to building a stronger provincial economy, and that means establishing meaningful partnerships with credible investors who share our vision for sustainable development.

Tarkap explained that the primary goal of the Port Moresby meetings was to establish a strong partnership framework. This framework aims to align the financial capabilities of potential investors with NIDC's mission of fostering sustainable economic development in New Ireland. He described the dialogue as productive, fostering a shared vision for the province's future and outlining a path for beneficial projects.

The progress by NIDC is attributed to reforms implemented by the Chan-Kolivos Government, including the appointment of new board members and management earlier this year. The Provincial Executive Council restructured NIDC with a clear mandate to restore confidence, improve governance, and reposition it as the province's primary commercial investment vehicle. The corporation has begun rebuilding investor confidence, strengthening corporate governance, and identifying revenue-generating opportunities.

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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.