In a significant advancement towards inclusive economic participation, Prime Minister James Marape today announced the rebranding of the PNG Resources & Energy Investment Conference and Expo to the PNG Investment Week. This strategic shift aims to encompass a wider array of industries beyond the traditional mining and petroleum sectors, fostering dialogue for sustainable economic growth in Papua New Guinea.
The upcoming hybrid convention will be hosted in Sydney, Australia, from December 6-11, 2024, marking an evolution of what was once the premier platform for resources and energy stakeholders to engage with the PNG government. The new branding reflects an intent to highlight opportunities across various sectors essential for enhancing economic diversity, including finance, agriculture, fisheries, renewable energy, and infrastructure.
Prime Minister Marape expressed gratitude to Mr. Anthony Smare, President of the PNG Chamber of Energy and Resources (PNG CORE), for driving this inclusive agenda that promises to deliver a more comprehensive investment landscape. “This newly formatted Investment Week is instrumental in expanding our economic horizons. The Government is wholeheartedly committed to this initiative, showcasing our strategy to not only promote the mining, petroleum, and energy sectors but also to enhance overall investment across all vital industries,” the Prime Minister stated.
The Prime Minister underscored the significance of involving other sector agencies, such as the National Fisheries Authority, National Forest Authority, and various agricultural organizations, in the event. “By creating a platform for these agencies to actively participate, we can foster a holistic promotional approach, presenting Papua New Guinea as an attractive investment destination for local and international stakeholders alike,” he added.
This inclusive approach is anticipated to enhance dialogue between the government, businesses, and communities, ultimately supporting sustainable economic growth. Prime Minister Marape emphasized that while the mining and petroleum sectors continue to be cornerstones of PNG’s economy, diversifying investment opportunities will provide new avenues for growth and development.
“I commend PNG CORE for their visionary leadership, and I look forward to the success of this event. The Government will provide its full support to ensure that these discussions catalyze meaningful economic participation from all sectors,” he concluded.
Through this initiative, Papua New Guinea aims to not only attract investments but also engage a broader spectrum of voices in the economic conversation, paving the way for an inclusive and sustainable future.
