Official: PNG has investment potential

The National, Monday July 18th, 2016

THERE is great potential for investment in Papua New Guinea, a senior United States official says.
Chairman and president of Export-Import Bank of the United State (Exim) Fred P Hochberg (pictured) said investment increased the country’s global importance and benefited the people.
Hochberg and his delegation arrived in the country last week and met with American businesses and government officials to discuss further opportunities to increase economic growth via American investment.
Speaking at an interview, he said Papua New Guinea was home to PNG LNG project which was the largest single project that the Exim Bank had done in its 82-year history.
Hochberg said he was here to see progress of the project and to learn about other potential opportunities that Exim Bank could “help unleash” here in the country. This whole region is full of opportunity,” he said.
“Exim exists to make sure US exporters can compete for business in PNG and around the world.”
Hochberg said he wanted to find opportunities in power, water, and healthcare.
“The work we are best at doing at Exim is in emerging economies and we’re anxious to do more here in PNG,” he said.