PNG’s growth attracts investors, says Awesa

PNG’s growing economy has caught the attention of some of world’s major investors who are now turning their gaze to this resource-rich Pacific nation, Minister for Works and Implementation Francis Awesa says.
Welcoming two representatives of London-based investor, Eurasian National Resource Corporation (ENRC), in Port Moresby last Friday, Awesa said government agencies were doing their part to boost Papua New Guinea’s development.
Former United States of America ambassador Pierre-Richard Prosper and ENRC general counsel Beat Ehrensberger are on an exploration trip to the country.
They intend to return early next year for negotiations for a possible entry into the mining industry.
“Papua New Guinea is in the middle of exciting times, with a growing economy,” Awesa said.
“This (the visit) shows the confidence of big investors in PNG.”
“We see this as a milestone in our country. This is the right time to invest. PNG’s economy will double so as the revenue.”
He assured the investors that PNG was strategically located in the Asia-Pacific region, thus having access to the Asian market, and having a large population that could contribute to investor confidence.
Prosper thanked the PNG government for its invitation, saying ENRC was happy to switch preferences from Africa to the Pacific, specifically PNG.
“We are very pleased with the support your government has given us.
“There is opportunity, there is hope and there is a future for this country.
“We hope to move quickly with you for the development of this country,” he said.