Prime Minister James Marape has invited French investors, financiers and technology firms to expand into Papua New Guinea as the country positions itself for long-term growth driven by energy, infrastructure and industrial development.
Speaking during a high-level meeting hosted by MEDEF International in Paris, Marape told representatives from major French companies that PNG was entering a new phase of economic transformation as it marked its 50th anniversary of Independence.
Companies attending the meeting included Global Sovereign Advisory, Matière, Veolia, BPCE, Flying Whales and telecommunications company iBASIS, with discussions spanning energy, infrastructure, utilities, aviation logistics, healthcare and digital connectivity.
“The next 20 years for Papua New Guinea will be about building roads, roads, roads and bridges,” Marape said.
“We have major rivers, difficult terrain, and enormous infrastructure needs. We are open to innovative financing and strong private-sector partnerships.”
Marape said PNG was on track to return to a balanced budget next year for the first time since 2010, which he said would strengthen investor confidence and support long-term economic management.
The prime minister also promoted the Papua LNG project as one of the country’s largest investment opportunities, saying it could generate tens of billions of US dollars in economic activity over its lifetime.
“Papua New Guinea and national stakeholders will need to finance participation in the project, so we are already exploring options for raising funds — either independently or through partnerships,” he said.
Marape said PNG’s gas pipeline extended beyond Papua LNG, with the P’nyang project and several additional developments expected to sustain construction activity through to 2040.
He also confirmed that discussions were continuing with French energy major TotalEnergies and project partners regarding the Papua LNG final investment decision.
Marape said earlier project cost estimates had been revised down from about US$18 billion to closer to US$14 billion following rebidding processes and cost optimisation measures amid changing global economic conditions after COVID-19 and geopolitical instability.
French engineering company Matière outlined its ongoing work in PNG, including the construction of more than 20 bridges linked to PNG LNG infrastructure and involvement in the government’s Connect PNG programme. The company also presented plans for more than 55 additional bridge sites nationwide.
Marape challenged the company to consider relocating bridge manufacturing operations to PNG.
“If I give you clean hydro energy and reliable power, can you relocate bridge manufacturing to PNG?” he asked.
Discussions also covered public-private partnership opportunities in utilities and healthcare infrastructure, including financing options for the stalled Kimbe General Hospital project.
“Kimbe Hospital remains a priority project,” Marape said.
“We need modern hospitals across PNG. If financing below three percent with a reasonable grace period can be arranged, I am interested.”
French banking group BPCE also expressed interest in PNG’s financial sector, while aviation company Flying Whales presented heavy-lift airship technology aimed at improving cargo transport into remote regions without road or airport access.
Marape said aviation and telecommunications would remain critical to PNG’s future economic development, highlighting ongoing efforts to expand digital connectivity through Starlink and other satellite technologies.
“Telecommunications are critical for future economic growth and governance,” he said.
“PNG is open for business.”
In his closing remarks, Marape announced Papua New Guinea’s intention to establish an embassy in Paris, saying the move would strengthen diplomatic and economic ties between the two countries.
