Latest News
Our Advertising Partners
See Our Latest Issue
Trending News
Here's the revised version of your article with a business focus and Australian English spelling and grammar corrections:
Indonesia is Our New Focus: Minister Maru
The Minister for International Trade and Investment, Hon. Richard Maru, has highlighted Papua New Guinea's (PNG) new focus on attracting Indonesian investments following recent high-level engagements between the two nations. These include State Visits by the Heads of both countries, a trade and investment mission led by Deputy Prime Minister Hon. John Rosso, and the signing of a Joint Declaration establishing a high-level Dialogue and Cooperation Mechanism.
Minister Maru remarked, “Indonesia's economy has grown tenfold over the last 20 years, driven in part by the government’s policy of banning raw material exports. This policy, announced three years in advance, has been strictly implemented.”
Indonesia is the largest economy in Southeast Asia, the world’s fourth most populous nation, and ranks as the 16th largest economy globally by nominal GDP, as well as the seventh largest in terms of purchasing power parity.
Minister Maru added, “While Indonesia has historically relied on imports of manufactured goods, advanced technology, and technical skills, it has successfully transitioned from a primary sector economy to one focused on secondary and tertiary industries. This shift, supported by the creation of numerous economic zones, has strengthened Indonesia’s downstream processing and value addition in manufacturing, trade, and services.”
Indonesia currently has 118 industrial parks, 15 Special Economic Zones (SEZs), four Free Trade Zones, and 10 Tourism Zones, all of which have contributed significantly to the country’s policy of downstream processing of natural resources.
“Downstream processing has been highly successful in Indonesia, creating thousands of jobs, transferring higher-value skills, and introducing advanced technological processes. The nickel SEZ at Weda Bay alone created 80,000 direct jobs and 12,000 indirect jobs—more jobs than PNG's entire mining and petroleum industries combined. In 2022, investment in downstream mining surged to almost US$9.2 billion, compared to US$4.1 billion in 2019,” Maru noted, emphasising the significant role these investments have played in Indonesia's mining industry.
The Indonesian Government has recommended that PNG adopt a similar approach and implement a ban on raw material exports.
“Our government has already declared its intention to pursue downstream processing, and we don't have to reinvent the wheel. Indonesia is right next door, ready to share its experience and offer support,” said Minister Maru.
He continued, “For nearly five decades, PNG's engagement with Indonesia has largely focused on border and security talks, which have not resulted in improved border facilities, direct shipping links, job creation, or significant trade between our countries. It's time for PNG to establish a robust trade and investment relationship with Indonesia, which has already mastered downstream processing and value addition. PNG has immense potential in mining, petroleum, agriculture, fisheries, forestry, and services, and we can learn valuable lessons from Indonesia’s success.”
Minister Maru stressed that PNG must move beyond being a primary exporter of raw materials and focus on value addition through downstream processing to create more jobs and increase the value of its exports. “Under the Marape-Rosso Government, PNG must shift away from being a mere exporter of raw materials. As we approach our 50th anniversary, it is imperative that we make a decisive change. Indonesia, our closest neighbour, has successfully navigated this path and is now a formidable player on the global stage. They are willing to share their experience and expertise, and we must stand ready to learn and collaborate.”
Minister Maru also extended an invitation to Indonesian companies in sectors such as manufacturing, mining, petroleum, agriculture, fisheries, tourism, and Special Economic Zones to invest in PNG. He revealed that two Indonesian companies have expressed interest in multi-billion kina rice and recycling projects in PNG, with proposals under review for approval by the National Executive Council (NEC). “This marks the beginning of a new era for PNG as we shift our trade and investment focus to Indonesia,” Minister Maru concluded.
Great Pacific Gold Corp. is pleased to provide an update on its short-term exploration strategy. After a thorough review of its dominant land position in both Papua New Guinea (“PNG”) and Victoria, Australia, the Company has developed a focused short-term plan aimed at advancing gold-copper resources on its core projects.
Core Projects:
Kesar – Located in the Eastern Highlands Province of PNG and contiguous with K92 Mining’s mine tenements, Kesar is a greenfield exploration project with several high-priority targets near the property boundary with K92. Multiple epithermal veins at Kesar are on strike and share the same orientation as key K92 deposits such as Kora. Exploration work by GPAC at Kesar has revealed high-grade gold in outcrop and elevated gold in soil samples, coinciding with aeromagnetic highs. A phase two sampling program supporting initial drilling has recently been completed, with results pending.
Arau – Also located in the Eastern Highlands Province of PNG, the Arau Project includes the highly prospective Mt. Victor exploration target, with potential for a high-sulphidation epithermal gold-base metal deposit. A Phase 1 Reverse Circulation drilling program at Mt. Victor was completed in August 2024. The Arau project also includes the Elandora licence, which hosts various epithermal and copper-gold porphyry targets.
Wild Dog – Situated in the East New Britain Province of PNG, Wild Dog is a brownfield exploration project with a history of small-scale gold mining. The project contains numerous epithermal and porphyry hydrothermal-magmatic targets identified through previous exploration and operations. In August 2024, the Company completed road refurbishment and established access to the project for baseline environmental and exploration work.
Lauriston – Located in the state of Victoria, Australia, the Lauriston project is situated on the southern extension of the Fosterville Goldfield Belt and is adjacent to Agnico Eagle’s Fosterville tenements and mine operations. Lauriston contains the Comet-Trojan target, a 4.5 km long epizonal orogenic system. The discovery hole at Comet intersected 8m at 105 g/t gold, and a follow-up drilling program was completed in Q3 2024. The Company is consolidating its data on Lauriston and expects to publish an NI 43-101 compliant technical report.
Walhalla – Also located in Victoria, the Walhalla project comprises over 1,400 km² of concessions, including numerous historical mining operations and the recently acquired Woods Point land package. The Company is consolidating its data on Walhalla and expects to publish an NI 43-101 compliant technical report. Walhalla contains a high-priority greenfield target known as Pinnacles. Extensive soil geochemistry has highlighted a 400m x 1,100m gold mineralised aplitic dyke with disseminated sulphides, outcropping at surface. The Pinnacles target is fully permitted and ready for drilling.
“The Company has spent the last four years building an extensive portfolio of high-quality exploration assets,” stated Greg McCunn, CEO of Great Pacific Gold. “After this period of acquisition, it is now time for the Company to focus on developing one or more of its core projects into a mineral resource. While the focus will be on these five assets in the short term, the recently acquired Tinga project also has the potential to create significant shareholder value in the longer term and is an important part of Great Pacific Gold’s future.”
The Company is also evaluating its non-core assets in Australia and exploring opportunities to maximise their value. As part of this process, the Company may consider asset sales, project spin-outs, or other strategic transactions.
Santos has announced the signing of a mid-term LNG supply contract with Glencore Singapore Pte Ltd (Glencore).
The contract involves supplying 19 LNG cargoes, or up to approximately 0.5 million tonnes of LNG per annum over a period of three years plus one quarter. The supply will come from Santos' global portfolio of world-class LNG assets on a delivered ex-ship basis.
Santos Managing Director and Chief Executive Officer Kevin Gallagher noted that the contract with Glencore extends their existing strong business relationship and presents a valuable opportunity for both companies to leverage their expertise in Asian LNG markets.
“This oil-indexed contract, along with a long-term LNG Sales and Purchase Agreement with Hokkaido Gas in Japan, highlights Santos' robust LNG portfolio position and customer relationships in the region. There continues to be strong demand in Asia for high heating value LNG from projects such as Barossa and PNG LNG. Santos is committed to supporting the energy security of our valued customers across Asia,” Mr Gallagher said.
The National Energy Authority (NEA) has officially launched its Corporate Plan 2023-2027, marking a significant milestone in Papua New Guinea’s energy sector. The Corporate Plan, launched on 23 August at APEC Haus in Port Moresby, is the first of its kind for the NEA. It outlines the strategic direction and key objectives that will guide the Authority’s efforts over the next five years. The Plan came into effect following the enactment of the National Energy Authority Bill in 2021, which established the NEA with the primary purpose of leading, facilitating, and accelerating the development of PNG’s energy sector.
The central goal of the Corporate Plan is to promote access to affordable, reliable, and sustainable energy services, which are crucial for economic growth and community prosperity. A key focus is extending electricity access to 70% of PNG’s population by 2030 and achieving universal access by 2050. Currently, only about 15% of the population has access to electricity.
NEA Managing Director Roland Maketa highlighted the importance of the Corporate Plan in supporting the government’s national development goals, as outlined in the PNG Medium-Term Development Plan Four and Vision 2050. “I am confident that the strategies outlined in this inaugural plan will take us a step closer towards achieving our goal of providing 70% of households with electricity from renewable sources by 2030 and 100% by 2050. Our commitment is to work collaboratively with all stakeholders to ensure its successful implementation.”
Deputy Chairman of the NEA, Raymond Unasi, reiterated similar sentiments, emphasising the Authority’s commitment to ensuring that even the remotest parts of the country will have electricity by 2050.
The Corporate Plan sets forth a comprehensive framework that identifies the NEA’s key roles, functions, and capabilities. It establishes strategic goals and corporate priorities that will drive the Authority’s activities, focusing on enhancing the regulatory framework, expanding off-grid electrification, and harnessing the potential of renewable energy sources.
Government Commitment to Energy Security:
The Minister for Energy, Hon. Thomas Opa, in his speech, emphasised the importance of pursuing innovative solutions to increase energy generation and distribution, improve energy efficiency, and promote renewable energy sources. Minister Opa stated, “The government has placed great emphasis on energy security in Papua New Guinea. The medium-term development strategy is aligned with our goal to grow the economy by an estimated 200 billion by 2030 and double the country’s internal revenue, creating one million new jobs.” He highlighted the government's mission to transform PNG into a middle-income country by 2030. Central to this vision is ensuring a reliable and continuous electricity supply across the nation.
Establishment of the National Energy Authority:
The NEA was established as a response to the need for a dedicated agency to oversee energy development. The separation of the Energy Division from the Petroleum Division of the former Petroleum and Energy Department in 2001 marked the beginning of a new era in PNG’s energy sector. The creation of the NEA was supported by the Marape-Rosso government through the successful passage of the National Energy Authority Act in 2021.
Corporate Plan 2023-2027: Key Initiatives:
The NEA’s Corporate Plan for 2023-2027 outlines several key initiatives aimed at strengthening the country’s energy infrastructure and promoting sustainable energy development. These include:
Developing Renewable Energy: The NEA plans to invest in high-profile electric, solar, geothermal, biomass, and wind power projects across PNG.
Strengthening Energy Infrastructure: This involves expanding the use of mini-grids, upgrading transmission and distribution networks, and utilising innovative financial mechanisms to attract private investment.
Promoting Energy Efficiency: The plan also focuses on supporting the adoption of energy-efficient technologies, developing energy performance standards, and raising public awareness about the benefits of energy efficiency.
Facilitating Private Sector Investment: The NEA will create an enabling environment for private sector investment in energy projects, including clear regulatory frameworks, targeted tax incentives, and a streamlined project approval process.
Minister Opa outlined the government’s ambitious target of providing 70% of PNG households with electricity by 2030, as part of the National Energy Rollout Plan. Achieving this will require substantial investments in energy infrastructure, including the generation of clean and renewable energy sources such as hydropower, biomass, natural gas, geothermal, and wind. The plan also aims to reduce the use of diesel-powered generators from 200 megawatts per annum to 150 megawatts by 2027. The NEA expects to increase electricity generation in the Ramu grid, the Pom grid, and the Gazelle. To meet these goals, an estimated $3.3 billion in investment is needed for infrastructure priorities under various programs, including the National Power Generation Investment Program and the Off-Grid Renewable Energy Development Program.
The NEA’s efforts have received strong support from international partners, including DFAT Australia, USAID, and the Asian Development Bank (ADB). Last year, DFAT Australia supported urgent repairs across the Ramu and Port Moresby power grids and worked on designs to upgrade several potential power grids to hybrid solar-diesel systems. USAID, through its five-year partnership with the PNG government, contributed $1.2 million to establish a solar mini-grid system in PNG's central province. Additionally, ADB has partnered with the government on several infrastructure projects aimed at strengthening the country’s energy sector.
Minister Opa reiterated the importance of strong partnerships in realising PNG’s energy potential. He noted the paradox of PNG being rich in energy resources yet facing challenges in providing consistent electricity access. “The key to unlocking this truth is unwavering commitment, not just by the government but by all stakeholders,” he said.
The launch of the Corporate Plan also signifies NEA’s commitment to honouring international partnerships, including the PNG Electrification Partnership (PEP) countries and other allies, by ensuring a hands-on approach in all energy programs in PNG, as agreed upon during the 2018 APEC Summit and subsequent arrangements.
The launch was attended by key stakeholders and partners, including the New Zealand High Commissioner, representatives from PEP Partners, PNG Power Limited, Kumul Petroleum Holdings Limited, government agencies, and NEA management and staff. The launch of the Corporate Plan is expected to set the foundation for NEA’s efforts to transform PNG’s energy sector, ensuring sustainable and equitable access to energy for all.
An innovative partnership between the Australian Government and PNG-based accreditation provider Paradais Review Services is set to send six Papua New Guineans on a vital training program in South Australia.
Over a two-week program, these individuals will train as National Association of Sustainable Agriculture Australia (NASAA) Organic Inspectors and Food Safety Management System Auditors in Adelaide.
Local farmers have long struggled to gain access to the lucrative global organic produce market despite much of their crops being naturally organic. A major barrier has been the absence of locally qualified organic certifiers.
Currently, international certifiers come in from countries like Australia, making the process both costly and logistically challenging for PNG agribusinesses. This initiative seeks to address this issue head-on by equipping local professionals with the necessary skills and qualifications.
Australian High Commission Economics Counsellor Nic Jonsson said this training initiative is a concrete step under the PNG-Australia Partnership to improve livelihoods in PNG’s agricultural sector.
"Once this training is complete, PNG farmers will have on-the-ground access to internationally qualified organic food inspectors. This means it will make it easier for PNG produce to compete in valuable overseas organic markets like Australia," Mr. Jonsson said.
He said the inspectors will conclude their initial 14-day training on August 23 before returning to PNG.
Over the following year, they will continue their learning through online modules and practical, on-the-ground instruction, ensuring they are fully certified and ready to assist PNG farmers by August 2025.
The Bank of Papua New Guinea (BPNG) officially launched the Kina and Toea Exhibition, a display celebrating the nation's rich economic history and the 50th anniversary of Papua New Guinea’s currency. This event, held as part of the Bank’s 50th anniversary celebrations, coincides with the upcoming 50th anniversary of PNG's independence in 2025.
The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to 6 September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition provided an opportunity to explore the fascinating history of PNG currency and its unique place in the nation's development. Displaying cultural richness and diversity, attendees were reminded of the significance of currency as a reflection of PNG identity, values, and traditions.
The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and officially declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. In Governor Genia’s speech, she emphasised the exhibition’s importance in reflecting on the nation's economic development and its roots in the introduction of the Kina and Toea, which have become not only economic instruments but also national emblems of independence and unity.
"It is an honour to stand before you today as we open the Kina and Toea Exhibition, a showcase of our nation's rich and evolving economic history as part of the Bank’s 50th anniversary celebrations," Governor Genia said. She highlighted that the event is particularly significant as it precedes the 50th anniversary of both the country's currency and the nation itself.
Governor Genia also introduced the Bank’s Vision 2050, launched in line with the anniversary celebrations. "The Bank’s Vision 2050 speaks of ‘economic opportunities for all Papua New Guineans,’ which at its core is about the transformation of the economy in the next two decades. This vision is a continuation of the development process first initiated some 50 years ago in preparation for PNG’s independence in 1975."
The Governor’s speech traced the historical journey of currency in PNG, starting with shell money used by the nation’s forefathers. Shells, particularly the Kina and Toea, were not only mediums of trade but also symbols of wealth, social status, and cultural practices. "Deeply embedded in our traditions and cultural practices, shell money also represented social status, and it was used in marriages, deaths, and other significant ceremonies and events," Genia explained.
The arrival of colonisers marked a turning point in the country's economic history, leading to the introduction of contemporary currencies on 19 April 1975. "These contemporary currencies served as both economic instruments and national emblems of our independence and unity as a nation," Genia noted.
She provided insights into the cultural significance of the Kina and Toea, explaining that the word "Kina" is found in both the Pidgin and Kuanua languages and describes the priceless pearl shell extensively traded in PNG's Highlands and Coastal regions. Similarly, "Toea" refers to a valuable type of shell used in trade and traditional bride price ceremonies in the Motuan Coastal villages.
Governor Genia expressed the Bank’s ongoing commitment to maintaining trust and confidence in physical currency, even as global trends shift towards digital currencies and electronic payments. "This exhibition provides a unique opportunity to reflect and appreciate how far we have come and to consider how we can continue to honour our heritage while embracing the future," she said.
The exhibition was designed to take attendees on a journey through PNG's history, showcasing images of rare artefacts, coins, and notes that have shaped the country’s economy.
The launch was attended by distinguished guests, partners, stakeholders, the staff and management of BPNG, and the media.
The Papua New Guinea Tourism Promotion Authority (TPA) officially launched the Enga Cultural Festival on Friday 9th August in Wabag, Enga Province.
The festival, renowned for celebrating the rich culture of Enga Province, marked a significant milestone this year with its 30th Anniversary.
Honourable Sir Peter Ipatas, Governor of Enga Province, expressed his gratitude for TPA’s continued support.
“I’d like to thank TPA for its continued support throughout the years, making this annual cultural festival one of the best in the country,” said Sir Ipatas.
TPA’s CEO, Eric Mossman Uvovo highlighted the importance of the festival in reflecting the cultural richness of the Enga people.
“The people of Enga have been through a lot in the past few years, and it is always beautiful to see the vibrant culture of the Enga people come alive through this annual event,” said Uvovo.
Uvovo also emphasized the importance of preserving cultural heritage.
“Shows such as this remind us of our proud culture, and it’s always an honour to see so many young faces proudly dressed in their traditional attire and showing their culture,” said Uvovo.
From Friday 9th to Saturday 10th August, the Enga Cultural Festival showcased a weekend of more than 30 different unique traditional performances, vibrant displays of traditional rituals, traditional craft & artifacts, floral displays and community spirit, reinforcing its reputation as one of the country’s most celebrated cultural events.
As the pandemic recedes and gradually fades from people’s memories, travel in the Pacific is rebounding. However, the Pacific’s travel recovery is highly variable.
Comparing visitor arrivals in 2023 with those in 2019 (Figure 1 below), it looks like Vanuatu is the biggest winner, but this is misleading. Vanuatu has experienced a surge in cruise tourism, with the number of cruise arrivals nearly doubling from 2019 to 2023 and reaching more than three times the number of air arrivals in 2023. However, cruise tourism in Vanuatu has been “fickle and volatile”. It can strain limited labour resources and generates much less revenue than tourism by air. In 2019, though there were 40% more cruise tourists than air tourists, air tourists generated roughly nine times as much revenue. Meanwhile, Vanuatu’s air tourism arrivals have only recovered to 70% of their pre-COVID levels, with total air arrivals in 2023 at just 64% of 2019 levels.
Fiji has done well to achieve 4% growth from its already high pre-pandemic travel numbers. Holiday arrivals, which constituted over 70% of total arrivals in 2019, experienced a substantial increase of 12% over the same period. Other market segments are still lagging though, attracting only 82% of their pre-COVID visitor levels.
Samoa has also done well with 2023 arrivals only 3% below the 2019 level.
Solomon Islands and Tonga have visitor arrivals nearing but still significantly below pre-COVID levels, with recoveries of 90% and 87% respectively. Solomon Islands benefited from its hosting of the Pacific Games last year. If its November arrivals had been at the average level for the other months of the year, then its 2023 arrivals would have only been 70% of 2019 levels.
That leaves PNG and Palau. PNG is at only 68% of its pre-COVID air arrivals level, and Palau is struggling with just 44%.
To explain Palau’s poor performance, we need to look at the source countries. While visitor numbers from Australia and New Zealand to the region have fully rebounded to pre-COVID levels, visitors from Asian countries have been slow to return. Overall, the total number of visitors from Asia to the seven countries that we have data for has decreased by 44%, with Palau and Vanuatu experiencing particularly steep declines of 67% and 55% respectively. This downturn is particularly significant for Palau, where visitors from Asia accounted for 82% of total visitors in 2019. In contrast, other Pacific countries attract more visitors from Australia and New Zealand. In Fiji, there were 67,513 more Australian visitors in 2023 than 2019, which more than filled the gap left by a reduced number of tourists from Asia.
Papua New Guinea is a special case (see Figure 2). Its slow recovery is evident across all source countries and purposes of travel, with 2023 arrivals at 62% (business), 77% (employment), 64% (air tourism) and 61% (cruise tourism) of their 2019 levels. If we look at air arrivals only, 2023 volumes are back at 2007 or 2008 levels. 2007 was at the start of PNG’s air arrival boom, which ended in 2014. Air arrivals have been falling since, so this is not just about the pandemic. Flight disruptions due to fuel rationing, outbreaks of violence and riots, delayed resource projects and a generally depressed business environment have all deterred travellers.
Businesses, governments and NGOs learned to get by without travel during the pandemic, so it is perhaps not surprising that total travel has not fully recovered. And from a climate point of view, the less air travel the better. But the fall-off in air travel is problematic for the Pacific region if it means less tourism and depressed business conditions. From that point of view, there are some very worrying signs from this travel data for a number of economies, especially Palau, PNG and Vanuatu.
Disclosure: This research was supported by the Pacific Research Program, with funding from the Department of Foreign Affairs and Trade. The views are those of the authors only.
This article appeared first on Devpolicy Blog (devpolicy.org), from the Development Policy Centre at The Australian National University.
Huiyuan (Sharon) Liu is a research officer at the Development Policy Centre, working in the area of economic development.
Stephen Howes is Director of the Development Policy Centre and Professor of Economics at the Crawford School of Public Policy at The Australian National University.
In late August, seventeen ExxonMobil trainees graduated in a ceremony held at the Kumul Petroleum Academy (KPA) at Idubada. The trainees completed a one-year full-time course and achieved City and Guilds certification in their respective disciplines. Eleven trainees received their certificates in plant process operation, and six were certified as instrument maintenance technicians. Notably, four of the seventeen graduates were female.
The graduation ceremony featured speeches from guest speakers, including ExxonMobil Upstream Asset Manager Mr Breton Macdonald, Kumul Petroleum Holdings Senior Manager Mr Sikke Jan Wynia, and several trainees, as well as the KPA manager.
Echoing the sentiments of other speakers, Mr Sikke Jan Wynia congratulated the trainees on their successful completion of studies, stating, "Kumul Petroleum is proud to have sponsored KPA for almost 10 years, enhancing the capabilities of the petroleum industry workforce, including the seventeen graduates today from the 8th Junior Operations and Maintenance Staff Course."
Mr Wynia also highlighted that Kumul Petroleum is constructing a new training facility at Caution Bay, which will provide improved facilities and allow for additional courses to further raise the technical standards of Papua New Guinea’s national industrial workforce.
Guests at the graduation included family and friends of the graduates, ExxonMobil personnel, and the staff at KPA. The event was also enlivened by a Motuan music and dance troupe.
The graduates are part of the 9th cohort to complete their training at KPA. City and Guilds is a United Kingdom-based awarding body for skills development. The trainees' education included an introduction to the oil and gas industry, safety training, knowledge in their chosen disciplines, practical on-the-job training, and coaching in the well-equipped workshops and the Safe Live Process Plant located at KPA’s Idubada campus.
Since its inception in 2016, 186 trainees sponsored by ExxonMobil, Oil Search, Santos, and Kumul Petroleum Holdings have graduated from KPA. The academy has a three-year contract with Santos to provide training and is currently preparing to welcome the 10th cohort of ExxonMobil-sponsored trainees in the coming weeks.
The Papua New Guinea Chamber of Resources & Energy (PNG CORE) is pleased to announce the 2024 Papua New Guinea (PNG) Investment Week.
The event, which will take place from December 6th to 11th, 2024, at the International Convention Centre in Sydney, was officially launched by Prime James Marape.
In his remarks, the Prime Minister acknowledged the partnership between Government and PNG in continuing to promote PNG as an investment destination of choice.
“The annual PNG Resources & Energy Investment Conference and Expo has been the country’s premier international event, which has enabled our international stakeholders, particularly those within resources & energy, to engage with the State to discuss opportunities in PNG, as well as to progress development of projects within this critical economic sector. Last year’s event was a tremendous success with heads of major mining and energy companies present and promoting investment in PNG.
It is indeed the only event where all who matter are in one place at the one time.
It is timely that the event is broadened into a week of promotion of international investment in PNG, and we are very happy that it has now become PNG Investment Week, and will feature not just the promotion of investment in our core energy and resources sector, but also other sectors such as financial services, agriculture, fisheries, manufacturing, infrastructure and renewables but also the very good work that PNG’s bilateral and multilateral partners are doing in PNG. My government stands ready to work with PNG CORE to make this event a resounding success yet again.”
PNG CORE President Anthony Smare reaffirmed the commitment by industry to promote opportunities on offer, in partnership with government, and key stakeholders.
“This change of name and format of the traditional conference into 5 days of PNG focused activities in Sydney, will boost investment into PNG by expanding attention beyond PNG’s resources sector into other areas such as PNG’s financial sector, agriculture, fisheries, renewables and infrastructure and providing opportunities for our international and multilateral partners to also advocate for PNG as an investment destination. We anticipate more than 2000 business delegates to attend the PNG Investment Week, with well over a thousand from international jurisdictions. We believe that by working closely with the National Government, and our major private sector and multilateral partners, we can deliver an investment event that will be both larger and more successful than anything we have delivered in the past offshore in terms of translating to improving investor sentiment in PNG and driving more direct investment into PNG’s various sectors. We are also pleased to acknowledge as well, the early and proactive commitment by the Autonomous Bougainville Government to use the event to promote direct international investment into Bougainville.”
This event will unite all investment and business stakeholders in PNG and abroad through a series of activities:
PNG Golf Challenge
PNG International Suppliers Forum
Meet the PNG Regulators
Large Investor briefings with PNG PM
President’s CEOs Dinner
PNG Investment Conference
PNG Investment Gala Dinner
PNG Investment Expo
See Our Latest Issue
See Our Latest Issue