The Government is keen on building a strong economic infrastructure in the country to accelerate economic activities, says Prime Minister Hon. James Marape.
Speaking at the 2022 PNG Update seminar at the University of Papua New Guinea recently, he said government will sustain the ‘Connect PNG’ policy, a critical economic enabler that will accelerate economic activities and connect the country through improved roads, airports, airstrips, wharves, and ports.
“We must invest in ICT and energy to build an inclusive country and stimulate growth,” PM Marape said when giving his keynote address.
PM Marape says cconnect PNG will facilitate the movement of people, services, and businesses throughout the country and this will pave way to unlock the potential of industry and generate revenue and economic growth.
“We will continue to work proactively with resources license holders by being transparent and open, just as we were when we negotiated new arrangements for the Porgera Gold Mine.”
Meanwhile, the government is expected to review the revenues from taxation and equity from the resource projects, while noting some windfalls in important equity in the mining, oil and gas projects.
He however added that growing the rural economy through agriculture presents many opportunities.
“We must explore commercial agriculture, unlock land, and look to open new markets for our agriculture products.
“We will maintain the commodity price support and freight subsidy programmes, both of which have had enormous impact on the growth of the agriculture sector,” he added.
PM Marape further stated that economic infrastructures must be built to unlock the potential of rural areas, and build market systems through digital platforms so that people can trade more seamlessly in an increasingly integrated global marketplace.
Commenting on the fisheries sector, Mr Marape said the Government has developed a long-term fisheries development plan, which aims at building a regulatory resilience, but importantly also provides very clear guidance on fisheries investment, and downstream processing of tuna and other marine resources,
In the meantime, the government remains committed to banning all round log exports by 2025 as a first industry to migrate to downstream processing.
On building investor confidence, Prime Minister said his government is committed to reforming the work permit and visa processes, as an example of creating stable policies and operating environment, to lure investors into the country.
“That is why we must continue to build on the reforms that we commenced in the last Parliament, particularly with respect to regulatory requirements, infrastructure, security and taxation,” he added.