The Business Council of Papua New Guinea (BCPNG) and the Australia–Papua New Guinea Business Council (APNGBC) are calling for practical measures to attract more Australian investment to PNG, pointing to unreliable electricity, delays in government administration and security concerns as issues that affect business operations and investor confidence.
The councils issued a joint statement on 27 October following the Business Dialogue at the 32nd Australia and Papua New Guinea Ministerial Forum. Ministers, senior officials and business representatives from both countries met at APEC Haus in Port Moresby on 20 October. The councils welcomed support from PNG Minister for International Trade and Investment Richard Maru and engagement from Australian ministers.
Investment beyond resources
The councils want to attract new investors and help Australian companies already operating in PNG expand. Alongside established resources activity, they identified opportunities in agriculture, value-added processing, manufacturing, tourism, infrastructure and services.
Drawing on BCPNG’s Electricity Opportunity Cost Study, the councils called for continued cooperation on power sector reform and commercially viable private investment in electricity generation, transmission and supply. They also identified more predictable and transparent government administration, stronger law enforcement and better cybersecurity as priorities.
The councils said new investment should create jobs, help PNG retain skilled workers and give local companies more opportunities to supply major projects and enter regional and international supply chains. They pointed to Australian development cooperation and aid for trade as ways to improve infrastructure delivery and market access, and to the PNG diaspora in Australia as a link between businesses in both countries.
Business input into next steps
BCPNG President Susil Nelson Kongoi said PNG had opportunities to attract investment, grow local businesses and create jobs. She said the dialogue had brought business concerns before ministers and called for governments and industry to maintain momentum.
“The next step is to maintain the momentum and continue working with government and industry to achieve practical outcomes,” Nelson Kongoi said.
APNGBC President Andrew Cairns said Australian businesses saw opportunities to work with PNG companies across sectors beyond resources. He said the council would draw on its members’ experience to help both governments identify changes that could encourage commercial investment and support the growth of local businesses.
The councils will continue working with their respective governments, business working groups and senior officials to identify barriers, put forward practical solutions and pursue agreed next steps that align with PNG’s development priorities.
