Prime Minister Hon. James Marape has called on Australian businesses to deepen their investment in Papua New Guinea, saying the country is entering an important decade of economic expansion, major resource projects, infrastructure development and closer integration with regional markets.
Addressing the Business Advantage PNG Investment Conference in Brisbane today, Prime Minister Marape urged Australian companies already operating in PNG to expand, while encouraging prospective investors to enter the market now.
“If you’re already in PNG, get entrenched. If you’re wanting to come to PNG, come now. The next 10-year window might close on you,” Prime Minister Marape told the conference.
He thanked Business Advantage International Executive Chairman Andrew Wilkins and his team for continuing to provide an important platform connecting Papua New Guinea with Australian and international investors.
AUSTRALIA AND PNG SHARE DEEP HISTORICAL TIES
Prime Minister Marape said the Australia–Papua New Guinea relationship extended far beyond Independence in 1975 and had been built over generations through churches, business, government and people-to-people connections.
He described the historical relationship through what he called the “three Gs” — God, Gold and Government.
Australian missionaries were among the earliest Australians to live and work in Papua New Guinea, followed by prospectors and businesses attracted by gold and other opportunities, and later Australian government officers.
“Our history is deep. We have depth of relationship — people to people through churches, social activities and sport, business to business, and government to government,” Prime Minister Marape said.
He said this long relationship must now be translated into a stronger economic partnership.
ECONOMIC INDEPENDENCE REMAINS THE GOAL
Prime Minister Marape recalled the challenge given to his generation by founding Prime Minister Grand Chief Sir Michael Somare to achieve economic independence.
“For what use is political independence if we don’t have the economy to sustain our country?” he said.
He said the Government’s economic philosophy was based on growing the economy while ensuring PNG received a fair return from its natural resources without undermining investors’ legitimate returns.
“We want Papua New Guinea to be a place where all investors — local and international — make a fair return on their investments as our country moves into the next 50 years,” he said.
The Prime Minister said opportunities extended beyond mining, petroleum and gas into agriculture, manufacturing, construction, tourism, ICT, artificial intelligence and energy.
PNG ECONOMY CONTINUES TO EXPAND
Prime Minister Marape presented economic and revenue data showing the transformation of PNG’s economy since Independence.
He said PNG began Independence with a very small economic and revenue base but had grown substantially despite political instability, natural disasters, global economic shocks and the COVID-19 pandemic.
The National Budget has now exceeded K30 billion, compared with approximately K300 million at Independence.
He said an important feature of recent economic performance was increasing activity outside the traditional mining and petroleum sectors.
“We are starting to see the diversification focus coming to fruition,” Prime Minister Marape said.
He said PNG must continue expanding agriculture, manufacturing, tourism, construction and other non-resource industries to build a broader and more resilient economy.
AI TO HELP BUILD A SMARTER GOVERNMENT
Prime Minister Marape said the Government was looking seriously at artificial intelligence to improve public- sector efficiency.
He said AI could assist government decision-making, recruitment, procurement, regulation and permitting while reducing bureaucracy, delays and opportunities for corruption.
“We want to use artificial intelligence to improve government efficiency,” he said.
“A smarter government is okay, but a smarter government needs a stronger economy.”
PNG POSITIONED AT THE DOORSTEP OF ASIA
Prime Minister Marape highlighted PNG’s strategic geographical position and regional relationships as another major advantage for investors.
PNG is a member of APEC and the Pacific Islands Forum and has a longstanding relationship with ASEAN, positioning the country between the Pacific and some of the world’s largest Asian markets.
He said the Government would continue expanding market access for PNG products into China, Japan, Korea, Southeast Asia, India and elsewhere.
He said his engagements with international leaders were focused on securing markets and economic opportunities for PNG producers and businesses.
YOUNG POPULATION A MAJOR ECONOMIC ASSET
Prime Minister Marape said PNG’s youthful population represented another major economic opportunity, with the Government investing heavily in education and skills development.
PNG wants to develop a skilled workforce capable of meeting domestic labour requirements while also helping address skills shortages in Australia, New Zealand and elsewhere.
“Our focus is on converting our youthful population into a resource, not a liability,” he said.
NEXT DECADE PACKED WITH INVESTMENT OPPORTUNITIES
Prime Minister Marape said the coming decade would contain a significant pipeline of economic activity.
He pointed to major resource projects including Papua LNG, Wafi-Golpu and the Pasca project, together with prospective developments including P’nyang.
He also highlighted PNG’s entry into Australia’s National Rugby League competition through the PNG Chiefs from 2028, saying it would generate opportunities extending beyond sport into tourism, aviation, hospitality, construction and commerce.
PNG is also preparing to again host APEC in 2033 and celebrate its 60th anniversary of Independence in 2035.
“The next 10 years are packed with a lot of activities,” Prime Minister Marape said.
‘BE WITH US’
Prime Minister Marape said predictions over many decades that Papua New Guinea would fail as an independent country had proven wrong.
“Many thought Papua New Guinea would fail in the 1970s, in the 1980s or in the unstable 1990s. But we have not failed. We have survived to this day,” he said.
He said PNG’s first 50 years demonstrated the country’s resilience, while its second 50 years must be defined by economic independence, stronger institutions, a skilled population and sustained private-sector investment.
“We are a nation of 10 million people. We don’t want to be beggars for life. We’re working to grow our economy,” Prime Minister Marape said.
“Pick up a part of PNG you want to invest in. Be with us. This is the story of our country.”