PNG Prime Minister James Marape launches $3 bn China‑backed Chinatown development in Port Moresby

Prime Minister James Marape officially opened the Chinatown Development in the Five Mile area of Port Moresby, a K3 billion (≈ US$850 million) project led by Chinese investor Baosen International Holdings Ltd. The mixed‑use complex will be built in three stages: an apartment block now under construction, a shopping mall slated for a December opening, and a future hotel.

Marape presented the venture as a concrete example of Papua New Guinea’s Special Economic Zone policy delivering jobs and private‑sector growth. He praised the long‑standing China‑PNG relationship, noting Chinese migrants have contributed to the economy for over a century, and reaffirmed support for the One‑China policy. Trade Minister Richard Maru announced that PNG will host its first PNG‑China Business Forum and Trade Expo in Guangzhou in October, signalling further commercial ties.

The project is described as one of the largest foreign private investments in PNG’s history, intended to harness the country’s strategic location at the doorstep of Asia and boost the national economy.