Investment week expected to open new market for PNG

THE Papua New Guinea Investment Week meeting in Port Moresby next month will open new markets for the country, says the Australian PNG Business Council (APNGBC).
APNGBC chief executive officer Materua Tamarua said the event from June 17 to 21 will see 1,800 delegates in attendance with 450 exhibitors, both internationally and locally, at 180 trade booths.
The meeting will also see 200 speakers at four high-profile investment conferences.
“There is a fair bit of excitement, there is more value to it for those people who are attending,” Tamarua told The National.
“Value in terms of the people you meet, the content you receive, the diversity in that content, the exclusive information, the participation in important dialogue like the Speakers Investment Summit they will discuss, the controversial fire-up bill, foreign investment review authority bill and the IPA amendments.
“So that will be discussed, there is also the mining Act, a lot of exclusive information will be shared and there is the opportunity the information about Australia and PNG, between the decision-makers at Waigani, and the leaders of the private sector, including our partners from the diplomatic missions,”
Tamarua said there had been little awareness on the opportunities available, particularly in Europe.
“There is less restrictions out there and there is more perceived value about PNG and what it has to offer to Europe. At present we are known for oil palm and the extractives but there are lot more that we can send over there, or a lot more that we could showcase, let us say in regards to tourism.”
Tamarua said the week would showcase the best of PNG,” he said.
“What we try to do during the investment week is to showcase the best of PNG, every country wants to open for business but we feel like, for people who enjoy visiting the country, doing business here will be a lot easier.
“So for the week, we are helping facilitate tours to the Bomana War Cemetery, the Nature Park and then there is also a Hunters game on at the weekend.”