PM assures investors on country’s economy

Prime Minister Peter O’Neill assured investors at the inaugural Petroleum and Energy Summit today that their investment in the country is safe and will bear more profits in the near future.

During the officially opening of the two days Summit this morning, O’Neill confidently said the country’s economy is doing well.

He said PNG had faced challenges in the past years due to the drop in commodity prices.

However, he said the decrease in commodity prices did not change the main goals of the government to provide free education and health care to the people.

“With a very careful management of our economy, we did not lose grip of it and we never cut essential services to our people,” O’Neill said.

He added that the government always maintained its policies since taking office in 2012.

“With the steady end on the economy, our country continues to weather the storm by continuing to maintain a positive GDP growth and a sound outlook for the next two years.”

O’Neill told investors that the country’s economy is on the right track and not out on the dark as claimed by critics.

More than 450 investors from major LNG buying countries are attending.

The summit will end with a visit to the PNG LNG plant site by the investors.

Freddy Mou