Prime Minister James Marape has reaffirmed Papua New Guinea’s commitment to investor confidence and economic diversification, telling international and local business leaders that Special Economic Zones (SEZs) will drive growth while upholding the rule of law and ensuring strong returns.
Speaking at the Second PNG SEZ Summit in Port Moresby, Marape highlighted his government’s vision to open opportunities beyond mining and petroleum. He arrived late to the event after making a symbolic road trip from remote Kotidanga in Gulf Province to Alotau and on to the capital — a journey meant to showcase new road links connecting Port Moresby to the wider country.
“For the first time in 50 years, road connections are reaching Port Moresby and linking it to Alotau and Lae,” he said. “These connections symbolise our bigger vision — connecting our economy, opening opportunities, and ensuring development reaches every part of our country.”
Growth and diversification
Since taking office in 2019, Marape said the economy has grown from K79 billion to K132 billion, with a target of K200 billion by 2035. He stressed that for the first time in decades, non-resource sectors have been growing steadily, citing SEZs as the backbone of the government’s push to encourage manufacturing, value-adding, and import replacement.
“To date, four SEZs have been licensed — Paga Hill, Pacific Cement Lime, Sea Park and Caution Bay — with more in the pipeline,” he said. “Investors who help us replace imports and save foreign exchange will always be our priority.”
Investor confidence and stability
Marape reassured investors that PNG honours agreements and maintains a safe, democratic environment for business. “We may not like every agreement signed in the past, but we do not tear up contracts. We honour them until they expire. That is the confidence investors need,” he said.
He pointed to long-term investors such as ExxonMobil and Steamships and noted that property investors in Port Moresby recover their investments in just 12 years — far quicker than in Sydney or Beijing. Judicial reforms, including an independent appeals court and international arbitration mechanisms, are also underway to further protect investors.
Green edge and future vision
Calling PNG one of the world’s largest carbon-negative countries, Marape said its 100 million metric tonnes of carbon sink capacity gives investors a “green label” advantage in environmentally conscious markets.
He outlined an ambitious vision to grow the economy to K500 billion by 2045, supported by new petroleum and mineral projects alongside agriculture, fisheries, and forestry.
“You will make more profit here than anywhere else if you work with local contractors and partners,” Marape told delegates. “Our free market economy, independent judiciary, and growing Asian markets make Papua New Guinea one of the most attractive destinations for investment.”
Marape also emphasised PNG’s growing international role, noting its participation in APEC, the Pacific Islands Forum, and its progress toward ASEAN membership. “With the United Nations Secretary-General arriving on Tuesday, it shows Papua New Guinea is not just open for business — it is a nation that matters globally,” he said.
