PM O’Neill Builds Investor Support in Hong Kong
The Prime Minister, Hon. Peter O’Neill CMG MP, has invited Asian investors to take a new look at Papua New Guinea and the potential the nation has for business.
Speaking at the 20th Credit Suisse Asian Investment conference on 29 March in Hong Kong, the Prime Minister provided information to business representatives from around the region, most of them being new potential investors.
PM O’Neill highlighted continuous growth in the economy, that is underpinned by political stability, and this enables Government policy to be properly implemented.
“The investment opportunities in Papua New Guinea have never been greater, and more positive, than they are today,” the Prime Minister told the forum.
“Papua New Guinea has enjoyed a sustained fifteen-year period of positive GDP growth.
“Investors and the business community know our Government, they know our policies and they know that we will not give them sudden surprises.
“They know that we have consistency in our policies and remain a business-friendly government.”
In his speech, the Prime Minister highlighted evolution in the oil and gas sectors, that is creating even broader investment opportunities.
“Increased efficiencies in our resource sector are bringing greater returns on investment in a tough global climate, and this will see increased returns as global conditions improve.
“Our future gas developments will be a broader mix of LNG exports, downstream processing and local power production.
“We will also be using this gas to meet the need to deliver reliable and affordable electricity for our industries, business and households.
“So when you look at oil and gas investment in Papua New Guinea, there is broad scope to work with us to further develop this sector to the maximum benefit.”
In conclusion, PM O’Neill reassured investors that Papua New Guinea’s solid democracy would deliver the will of the people at the upcoming elections.
“As we enter national elections in the coming months, our democracy has never been stronger, or more certain, than it is today,” the Prime Minister said.
“We seek to emerge from these national elections to form the next government, elected by Members of Parliament, with a strong and stable majority.
“Our government will be judged by our people based on our track record, and our plans for the future.”