International investors are important for PNG’s economy because they help grow business locally and create employment opportunities. For instance, Ok Tedi Mining, Newcrest Mining, and Ramu Nickel mines provide jobs and stimulate the economy by producing gold, copper, nickel, and cobalt. They also generate the majority of PNG’s Foreign exchange income which local businesses need to operate and grow.
International investments in PNG’s infrastructure, energy, and telecommunications sectors have stimulated economic development throughout PNG’s history.
A recent example can be seen in the Asian Development Bank’s investment in road projects like Highlands Region Road Improvement, while oil and gas companies invested in energy projects such as Papua LNG and Wafi Golpu. Mobile operators like Digicel and Vodafone have also been working to bridge the digital gap and improve access to information and services.
These investments have helped to address infrastructure challenges, increase energy production, and generate revenue for the Government.
International investors have the potential to build up PNG’s trade relations with other countries, leading to increased imports and exports, improved economic conditions, and a higher standard of living for all PNG citizens.
The benefits of improved international trade won’t just be felt by the bosses of businesses but will flow down to all hardworking Papua New Guinean’s especially in our agriculture and cash crop industries as we export our PNG made products internationally.
How do we get more international investors?
Last week, Nambawan Super co-hosted the Pacific Islands Investment Forum where we saw 32 potential investors from across the Pacific, Asia, Australia and New Zealand come to PNG to see our investment opportunities in person. This Forum was successful in creating interest in PNG as an investment country and we look forward to seeing more results in the near future.