PNG has a lot to offer, says PM

By Nathan Woti
PAPUA New Guinea has a lot to economic opportunities to offer Pacific Island Investment Forum member countries, says Prime Minister James Marape.
“We are inviting you to see and experience the immense economic opportunities that our country has to offer to you our wantok from the Pacific,” he said.
“(It) includes our bilateral and trading partners Australia, New Zealand, Indonesia, Malaysia, Philippines, China, Japan and India.
“PNG has a lot of land available for agriculture and other economic activities.”
Superannuation fund officials from the 22 forum member countries are attending a two-day meeting in Port Moresby.
Marape urged them and their governments to look investment opportunities and “how you can grow your members in the region”.
“PNG is right at your doorsteps with abundance economic opportunities,” Marape said.
He said PNG’s first two superfunds — Nasfund and Nambawan Super — had a combined portfolio of almost US$5 billion (about K17.6 billion).
Marape encouraged the superfunds to adopt the same kind of approach to expand their operations.
He also told them to focus on developing their economies in the region instead of the economic constraints as a result of the Coronavirus (Covid-19) and the Ukraine-Russia war.
“PNG and Pacific have gone through many challenges as small economies,” he said.
“PNG will lead the way in economic activities in our region and I want to assure the superfunds to work with your governments to ensure you can invest in PNG as we grow the economy of our region together.”