Australia remains PNG’s biggest foreign investor with K17bil

National

PNG has been an investment hub for Australia with a total volume of more than K17 billion for over 5,000 businesses operating in the country.
Prime Minister James Marape revealed this during his meeting with Prime Minister Scott Morrison in Canberra.
It is the biggest foreign investment in PNG.
“We are looking at genuine investors looking at downstream in agriculture, forestry and fisheries,” he said.
“We’d like to sell more of our tuna in the Australian market.”
Marape said over time, reciprocal benefit setting had been happening for some time, and the propensity for PNG to grow into an economic powerhouse was great.
He told Morrison: “I’m using the opportunity to sell my country as a very good Greenfield investment destination. We inherit our government structure similar to what you have here.
“The court system is totally independent from our executive in Parliament.
“Our system of Government is also fair and friendly.”
Marape said PNG had always been a very good investment destination for Australian companies.
“They have been a part of our economy and our country for so long,” he said.
“My coming here, at the invitation of Prime Minister Morrison, is to consolidate the relationship at the highest level between two political leaders.”