My company, Business Advantage International, has been actively involved in promoting business and investment in the independent Pacific nation of Papua New Guinea since 2006, when we published the first edition of our annual investment guide, Business Advantage Papua New Guinea.
Papua New Guinea—PNG for short—has not been known as a major business centre but it is the largest economy in the Pacific, it is growing quickly, and it is a country with considerable economic potential. And it’s right on Australia’s and Asia’s doorstep.
For instance, compare PNG to its largest trading partner and neighbour, Australia. From 2007 to 2014, Australia’s economy grew by 70%; PNG’s grew by a massive 267%* over the same period, and it’s still growing.
Over that period, PNG also joined the exclusive club of liquefied natural gas-exporting nations, thanks to a massive ExxonMobil-led project. A second LNG project, led by France’s Total, is now in the offing, as are new mining, agricultural and infrastructure projects. PNG is already a major producer of commodities like gold, copper, sustainable palm oil, coffee and cocoa.
In November 2018, PNG will have its ‘coming out’ party, as it hosts the annual APEC Leaders’ Meeting for the first time.
Thousands of international government and business delegates will descend on its capital, Port Moresby, and will see new port, road, energy, telecommunications and aviation infrastructure, urban renewal and housing projects, new hotels (including PNG’s first Hilton), restaurants and conference facilities.
Clearly, if PNG isn’t on your radar yet, it should be. Or, if you haven’t caught up with what’s going on there for a while, it’s really time to take a fresh look.
Time to act
I’m going to make it easy for you. On 7 and 8 September this year, at the Shangri-La Hotel in Sydney’s picturesque The Rocks, we’ll be hosting the 2017 Papua New Guinea Investment Conference. Over two days, you’ll receive a full briefing on the country’s economic potential, and hear from a range of businesses who are already in PNG and doing great things. You’ll get to meet investors and financiers, and talk to some of the entrepreneurs leading PNG’s next wave of development.
We’ve run these kind of events successfully several times before, most recently at the Brisbane Convention Centre in 2015, so we know how to curate an enjoyable and stimulating program. As a bonus, Day 2 of the conference will conclude with a special Pacific Islands Investment Seminar, focusing on the Pacific economies with which PNG has the strongest business links, such as Fiji and the Solomon Islands.
Registrations to this event, the first general investment conference on PNG ever held in Sydney, have just opened. You can view the event program and register to attend here.
I look forward to seeing you there.
* World Bank figures