2019 business advantage papua new guinea investment conference

The 2019 Business Advantage Papua New Guinea Investment Conference was a significant event that brought together business leaders, investors, and government officials to discuss investment opportunities in Papua New Guinea (PNG). Here are some key highlights from the conference:

Theme: "Unlocking PNG's Economic Potential: Investment Opportunities and Challenges"

Date: October 23-24, 2019

Location: The Grand Papua Hotel, Port Moresby, Papua New Guinea

Key Speakers:

  1. The Hon. James Marape, Prime Minister of Papua New Guinea
  2. The Hon. Sam Basil, Minister for Treasury and National Planning
  3. Dr. Steven Mina, Governor of the Bank of Papua New Guinea
  4. Mr. Richard Maru, Minister for Trade, Commerce and Industry
  5. Mr. David Toua, CEO of the PNG Chamber of Commerce and Industry

Key Issues Discussed:

  1. Investment opportunities in PNG's natural resources sector, including oil and gas, mining, and agriculture.
  2. The country's economic development strategy and plans for infrastructure development.
  3. The role of small and medium-sized enterprises (SMEs) in driving economic growth.
  4. The challenges and opportunities presented by the COVID-19 pandemic.
  5. The importance of sustainable and responsible business practices in PNG.

Investment Opportunities:

  1. Oil and gas: PNG has significant oil and gas reserves, with several major projects underway or planned.
  2. Mining: The country has a rich mineral endowment, with copper, gold, and nickel being major exports.
  3. Agriculture: PNG has a large agricultural sector, with opportunities for investment in crops such as coffee, cocoa, and palm oil.
  4. Infrastructure: The government has plans to invest in infrastructure development, including roads, ports, and airports.
  5. Tourism: PNG has a rich cultural heritage and natural beauty, with opportunities for investment in tourism development.

Challenges:

  1. Infrastructure: PNG's infrastructure is limited, making it difficult to transport goods and people.
  2. Corruption: Corruption is a significant challenge in PNG, affecting business operations and investment decisions.
  3. Political instability: PNG has experienced periods of political instability, which can impact investment decisions.
  4. Environmental concerns: PNG is home to many sensitive ecosystems, and environmental concerns are a major issue for investors.
  5. Human resources: PNG faces a shortage of skilled workers, which can impact business operations.

Outcomes:

  1. The conference provided a platform for investors and businesses to connect with government officials and each other.
  2. It highlighted the investment opportunities available in PNG and the challenges that need to be addressed.
  3. The event helped to promote PNG as a destination for investment and trade.
  4. It provided a platform for businesses to showcase their products and services.
  5. The conference helped to build relationships between businesses, government, and civil society organizations.

Overall, the 2019 Business Advantage Papua New Guinea Investment Conference was an important event that helped to promote investment and trade in PNG. It provided a platform for businesses and government officials to connect and discuss the opportunities and challenges facing the country.