By DALCY LULUA
CHINESE billionaire and R&F Group co-founder Zhang Li arrived in Port Moresby earlier today to explore investment opportunities in Papua New Guinea across key sectors including housing, tourism, mining, real estate and infrastructure.
Mr Li, whose company is one of China’s leading property developers and international investors, said he was pleased to be in Papua New Guinea and looked forward to building new partnerships.
“It feels very refreshing to be in Papua New Guinea,” he said, adding that Papua New Guinea’s Ambassador to the People’s Republic of China, Dr Thaddeus Kambanei, had spoken to him on many occasions about the country’s investment potential before his visit.
Mr Li said the R&F Group has more than 30 years of experience in urban and rural development, having delivered nearly two million homes and developed commercial buildings and more than 100 luxury hotels across China.
While acknowledging challenges in China’s property market, he said the company had diversified into mining over the past decade, focusing on non-ferrous metals and expanding operations into several overseas markets, including South Africa.
He said Papua New Guinea presented exciting opportunities for future collaboration as the company sought to expand its international investment portfolio.
Welcoming the delegation, National Capital District Governor Powes Parkop said it was an honour to host Mr Li and his team in Papua New Guinea.
Governor Parkop said PNG offered enormous investment potential in housing, hotels, tourism, mining, oil and gas, forestry and fisheries, and encouraged the R&F Group to consider long-term partnerships with the country.
He said Port Moresby has a growing demand for housing and large areas of land available for development, while Papua New Guinea’s unique culture, vast rainforests and rich biodiversity provide strong opportunities for tourism investment.
Governor Parkop also highlighted the close relationship between Papua New Guinea and China’s Guangdong Province and the sister-city relationship between Port Moresby and Shenzhen, saying these partnerships could further strengthen investment and business cooperation.
Mr Li will be hosted for lunch today by Governor Parkop before attending a dinner hosted by International Trade and Investment Minister Richard Maru, where discussions are expected to focus on investment opportunities and potential partnerships between the R&F Group and Papua New Guinea.