January 20, 2016

PNG Prime Minister Peter O'Neill highlights investment boom

The Prime Minister Peter O’Neill, has highlighted the investment potential of Papua New Guinea to a delegation from the Philippines Chinese Chamber of Commerce and Industry. The group has travelled to Papua New Guinea following PM O’Neill’s visit to Manila for the APEC Summit in November last year, and the Chamber has sought to explore business opportunities between the two countries. In his address to the visiting delegation, the Prime Minister foreshadowed plans being developed to offer visa on arrival to businesspeople travelling from all APEC Member Economies. “We live in a region that is increasingly integrated, and as a country, Papua New Guinea is poised to take advantage of the economic potential of the Asia-Pacific. “We want to invite people to come and visit our country from around the APEC region and we will streamline visa processes to make it easier to travel to Papua New Guinea.” “This will be in addition to the APEC Business Travel Card, that has already proven very popular among or business investors.  Visa on arrival will be open to thousands of people who don’t already have the APEC card." The Prime Minister welcomed the delegation that he said operates across economic areas of importance to the Papua New Guinea economy. “The Philippines Chinese Chamber of Commerce and Industry has eight local chapters in the Philippines working across sectors that are also expanding in Papua New Guinea. “This includes agriculture, tourism, mining, electricity generation and small and medium enterprises. “We welcome investment that Chamber members can bring to Papua New Guinea where there are many opportunities as many companies are already discovering. “Even with the challenges in the global economy, the economy of Papua New Guinea is growing. “Papua New Guinea has political stability and a business-friendly Government. “Major global companies such as TOTAL from France are investing billions of dollars in Papua New Guinea because the see the great opportunity we offer. “Projects including the Wafi-Golpu advanced exploration project, Frieda River Project and now the Papua LNG project are advancing. “I would like to invite our friends from the Philippines to increase investment and work with our companies in agriculture and fisheries. “This will create thousands of new jobs, improve our processing facilities so we can further value-add, and provide a strong return on investment. “Now is the time to invest in Papua New Guinea.”