Chief Secretary to Government Ivan Pomaleu opened the PNG Regulators Forum today, the first session of the 2025 PNG Investment week program in Sydney, Australia.
The Chief Secretary said the rebranded structure of the program to include the renewable resources sector is a very strategic move and a timely evolution.
“Papua New Guinea must elevate the renewable resources. Agriculture, fisheries, forestry, tourism and clean energy,” Chief Secretary Pomaleu said.
“It needs to stand along side the prominence of our extractive industry.”
He said in his view, this approach is foundational because it allows long term sustainability of our Nation and how we must depend on industries that continue to feed and support our people long after the non-renewable resources are exhausted.
Chief Secretary Pomaleu said the key question for us is how do we correct the imbalance between renewable and sectors. How do we ensure that revenues that are gathered from mining, oil and gas are strategically channelled into agriculture, fisheries, forestry, tourism, downstream processing and human capital development.
He added that all these is aimed at lifting Papua New Guinea’s human capital index and placing us on track to achieve our national development aspirations under Vision 2050.
Chief Secretary Pomaleu further reaffirms that PNG is a “predictable and high-growth investment destination” based on several key pillars:
• Reliability: Over 50 years, PNG has honoured its resource development agreements, backed by a strong legal system and an independent judiciary.
• Market Access: PNG offers immediate access to rapidly growing Asian markets.
• Environmental Edge: The country boasts a negative carbon footprint and is an emerging leader in the clean energy economy.
• Free Market: The economy operates under a single “rule book” applicable to the government, investors, landowners, and citizens alike.
He concluded by reiterating the government invitation for active dialogue between regulators and investors.
The Chief Secretary encouraged investors to participate in breakout sessions for the day and share their concerns.
He informed the investors that the state aims to not only speak but to listen and learn to realign policies that respond to investor needs.