Prime Minister Hon. James Marape today announced the inaugural Papua New Guinea-Asia Investment Conference, scheduled to take place in Hong Kong on October 16-17, 2023. The conference will be hosted by the PNG Chamber of Mines and Petroleum (PNGCMP) and will serve as a platform for government and business representatives from China and other parts of Asia to explore investment opportunities in Papua New Guinea.
In addition to investment opportunities in the mining, petroleum, and energy sectors, PNG will also provide information on investing in non-resource sectors such as agriculture, fisheries, forestry, manufacturing, and service industries. The agenda will include discussions on new and exciting opportunities like Special Economic Zones.
Highlighting the significance of the event, Prime Minister Marape emphasised the timeliness of the PNG-Asia Investment Conference, particularly in light of PNG’s ambition to tap into foreign direct investment from the rapidly growing Asian region.
“While discussions about strengthening ties with China and greater Asia have been ongoing for many years, the focus has mostly been on the political front,” said Prime Minister Marape.
“In recent years, we have witnessed a notable increase in Asian investments in PNG, creating further potential for growth.”
He continued, “The time has come for substantive collaboration, working hand in hand with businesses and industries to create investment opportunities for Asian investors, particularly in the minerals and energy sectors.”
Prime Minister Marape expressed his intention to address the conference, shedding light on why Papua New Guinea stands as an appealing investment destination for Asian investors. He also plans to emphasise the country’s pivotal role in the global energy and mineral landscape, offering substantial returns to investors, especially those from China and other Asian nations.
“The PNG-Asia Investment Conference in October will serve as a targeted platform for engaging our Asian investors and complement the ongoing efforts of my government and the PNG Chamber of Mines and Petroleum in promoting investments in PNG’s minerals and energy sector, following the successful PNG Mining and Petroleum Investment Conference in December 2022 in Sydney,” stated Prime Minister Marape.
Acknowledging the instrumental role of Minister for International Trade and Investment, Hon. Richard Maru, in pursuing opportunities within Asia, Prime Minister Marape commended his efforts to explore investment prospects in the region.
“We extend our gratitude to Chamber President Anthony Smare, the council, and the Chamber Secretariat for accepting our government’s request to organise this event,” added Prime Minister Marape.
“The Chamber has already commenced preparations, deploying a dedicated team to ensure Papua New Guinea’s prominence on the global stage this October.”
Prime Minister Marape concluded, “Papua New Guinea eagerly anticipates engaging with Asia and warmly welcomes esteemed Asian investors into our country.”