Prime Minister Hon. James Marape has urged investors to help Papua New Guinea transition from a resource-dependent economy to a manufacturing and green-energy powerhouse, outlining a 20-year vision during a live Q&A with Australian journalist Tracey Spicer at PNG Investment Week.
Looking ahead to 2040 and 2050, PM Marape said ordinary Papua New Guineans must feel the benefits of investment through more local businesses and the export of finished, high- value products.
“Incubate more local business and migrate to a manufacturing-based economy,” he said.
“Local produce must translate to finished products for export.”
PM Marape told investors the Government is working to shift PNG from “resource potential to a predictable pipeline of financeable, climate-resilient projects” that attract global capital at scale.
He confirmed PNG aims to define itself internationally as a clean, green energy economy, powered by hydro resources and supported by the country’s vast forests and oceans.
“Australia is moving towards closing their fossil fuel facilities. We’re looking at supplying
Australia with energy harvested from PNG,” he said.
“Our negative carbon footprint is an advantage we offer investors.”
He added that “conservation dollars” from carbon-offset markets could become a major new revenue stream, calling on companies with significant emissions to partner with PNG to keep forests standing.
To create a safer environment for investment, PM Marape pledged full-scale reform and expansion of police and justice institutions.
PM Marape forecast that PNG could surpass K200 billion GDP by 2030, and K500 billion by 2045 — with prosperity broadly shared.
He said the nation must become “a prosperous, healthy and wealthy country — a blessing to investors and citizens alike.”
As the session closed, Spicer congratulated PM Marape on the country’s milestone.
PM Marape’s final message: investors and Papua New Guineans must build the future together.
“There will be enough on the table for everyone who chooses to live and operate in PNG.”