Prime Minister Peter O’Neill has assured the delegation from the Chinese Philippines Chamber of Commerce and Industry that the economy of Papua New Guinea is growing even with the challenges in the global economy.
“We welcome investment that Chamber members can bring to Papua New Guinea where there are many opportunities as many companies are already discovering
He said Papua New Guinea has political stability and a business-friendly Government.
“Major global companies such as TOTAL from France are investing billions of dollars in Papua New Guinea because they see the great opportunity we offer.
“Projects including the Wafi-Golpu advanced exploration project, Frieda River Project and now the Papua LNG project are advancing.
“I would like to invite our friends from the Philippines to increase investment and work with our companies in agriculture and fisheries.”
O’Neill added that this will create thousands of new jobs, improve our processing facilities so we can further value-add, and provide a strong return on investment.
“Now is the time to invest in Papua New Guinea.”
The Philippines Chinese Chamber of Commerce and Industry has eight local chapters in the Philippines working across sectors that are also expanding in Papua New Guinea.
This includes agriculture, tourism, mining, electricity generation and small and medium enterprises.
The group has travelled to Papua New Guinea following O’Neill’s visit to Manila for the APEC Summit in November last year, and the Chamber has sought to explore business opportunities between the two countries.
The delegation will be leaving for Manila tomorrow.