PNG in right place, at right time

PNG is potentially at the right place at the right time as the global economy is undergoing significant and far reaching changes.

This is according to Business Advantage PNG as they prepare to host the Papua New Guinea Investment Conference on the 6th and 7th of August.

The Conference will be held at Sofital Brisbane Central, Australia.

PNG will come under the spotlight again, this time to look at its investment climate against the current global economic trend, which is labeled as significant and far reaching.

According to Business Advantage PNG, the minerals sector is emerging from an extended downturn,  global capital flows continue to shift towards Asia and global action to address climate change is starting to ramp up, driven by the 2016 Paris Agreement.

In each of these areas, PNG is potentially in the right place at the right time with major PNG minerals projects, both in LNG and mining coming up, and a closer focus on PNG as the country to host APEC for the first time.

Also with sustainability now a firm agenda, PNG has a chance to emphasize its rich potential as a centre for sustainable marine and agricultural production.

At the same time, billions of kina have been promised by the Government to be spent on sports, aviation, energy and roads, bringing opportunities for local and international businesses, and helping to improve national productivity.

There is also the continuing emergence of a middle class in PNG, and also a new generation of entrepreneurs, eager to innovate.

Prime Minister Peter O’Neill will deliver the keynote address during the opening on Monday, while there will be an economic update of the country by the Asian Development Bank.

Other presentations will be given by the Investment Promotion Authority, NASFUND and Nambawan Super, and MRDC.

Sectors to be covered include agriculture, fisheries, technology and innovation, entrepreneurship, ICT and many more.

(The industrial city of Lae)

Cedric Patjole