Papua New Guinea’s hosting of the 2018 APEC meetings presents an unprecedented opportunity to showcase PNG as a vibrant and attractive investment destination.
Prime Minister Peter O’Neill, in acknowledging partnership with local companies towards their support in hosting APEC 2018, recognised Newcrest for their platinum sponsorship towards the event.
Earlier this year, Newcrest became the first company to sign up as a Platinum Sponsor for the APEC CEO Summit, with a contribution of USD250,000 (K800,000).
This signaled a strong commitment to supporting the PNG Government at this important moment in the country’s history.
Newcrest’s executive general manager external affairs and social performance, Ian Kemish, said Newcrest’s sponsorship of APEC is one way to demonstrate that the company is committed to the country for the long-term, and wants to show the world that PNG is a good place to do business.
He added that APEC is an important moment for PNG, and Newcrest is standing alongside the PNG Government to tell the story of their investment in the development and growth of PNG.
Kemish, along with the other APEC Platinum Sponsors, received a plaque from the Prime Minister in recognition of their contribution.
With its gold mine at Lihir, and a 50 percent interest in the Wafi-Golpu project, Newcrest injects considerable economic and social value into PNG, including employment, contracts for local goods and supplies, taxes and royalties, and community contributions such as infrastructure projects, training and scholarships.
Newcrest is also one of the largest forex contributors to PNG, contributing USD$396 million to the national account in FY2017.
The APEC sponsorship program is a tangible example of private-public partnership, with the private sector stepping up to share some of the cost burden associated with hosting a world-class event such as APEC.