Papua New Guinea will spend K600 million to host the 21 Heads of Asia Pacific Economic Cooperation (APEC) member states in 2018.
Minister for Sports, National Events and APEC Justin Tkatchenko said the cost not only covers the 2018 APEC Leaders’ Summit but also APEC Ministerial Meetings which started last year and will run until the main Leaders’ Summit in Port Moresby.
Minister Tkatchenko speaking on TVWan ‘Nau’ Talkback program said: “Over K600 million over the next two years. “
He said petroleum company Oil Search will give K120 million under its Infrastructure Tax Credit to support the country host some of the most powerful world leaders who will all come to the country at one time.
The monies will cover infrastructures development, logistics and security.
The participating APEC economies are: Australia, Brunei Darussalam, Canada, Chile, China, Hong Kong-China, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russia, Singapore, Chinese Taipei, Thailand, United States, and Vietnam.