PNG Businesses Encouraged to Invest in Fijian Economy
AND NORMAN FINANCE LAUNCHES IN SUVA
More Papua New Guinea (PNG) companies are encouraged to invest in the lucrative market in Fiji which is currently experiencing a stable economy.
Likewise, Fijians are encouraged to invest in PNG given their growing and promising economy with huge resources.
A long-time resident in PNG for 16 years, Sally Napolioui, who also runs her own business said she is excited to see more PNG companies investing in Fiji and Fijians going to PNG and is encouraging. Ms Napolioui made the remark when congratulating Mr Gabriel Andandi, the owner and director of a newly established finance company in Suva, Norman Finance Ltd.
She spoke to invited guests from Fiji and PNG including acting managing director of PNG Investment Promotion Authority (IPA) Clarence Hoot, representatives from PNG High Commission, invited guests from Fiji and the local media.
Norman Finance Ltd has launched its first overseas branch in Suva, Fiji on June 14.
The 100 per cent nationally owned finance company now provides to Fiji the growing finance sector a new player to help in the development of Fiji as a Melanesian country.
“We are happy to see Papua New Guineans coming to Fiji and invest and I am proud of Mr Andandi. I encourage more Melanesians to do business together,” Ms Napolioui said.
“Most PNG friends helped me when I started the business in PNG so I urge Fijians to help Mr Andandi in Fiji,” Ms Napolioui said during the launching of the finance company. Ms Napolioui said more Fijians are now doing business in PNG and encourages Papua New Guinea businessmen to invest in PNG to strengthen the business and trade bond between the Melanesian countries.
Norman Finance which has over 22 branches in PNG specialises in soft loans, primarily for public servants.
Mr Andandi said Norman Finance is the only nationwide finance company with 26 branches in all the 22 provinces in PNG and looking at new locations to extend his company and chose Fiji as the first overseas location.
“Slowly we would like to extend our client range as much as possible in Fiji as a Melanesian brother and we are very excited about the possibilities here,’’ said Mr Anandi.
“We believe our interest rates are affordable and low enough to attract clients and we are very flexible with the time frame involved in the payment of the loan,’’ he added.
Mr Hoot who was the guest speaker conveyed the IPA directors and the minister’s congratulations for the overseas investment and said the bold stand taken has fulfilled the true spirit of Melanesian Spearhead Group.
“IPA assists and encourages SME (Small to Medium Enterprises) to grow and expand. To launch Norman Finance in Fiji is absolutely encouraging and we would like to congratulate Mr Andandi,” Mr Hoot said.
Mr Hoot said Norman Finance in PNG has been helping students pay their school fees since 1997 where over 3,000 students and parents have benefited and is a company Fiji should work with.
“With the kind of heart that Gabriel has to assist parents and students, I am sure he will do the same in Fiji if the company is successful.