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July 24, 2021
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ANZ On PNG’s Future

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A business breakfast hosted by the Port Moresby Chamber of Commerce and Industry, alongside the ANZ group, was held this morning at the Crowne Plaza.

The event, heavily attended by Port Moresby’s business professionals, welcomed ANZ group Chief Executive Officer, Mike Smith, as he expressed confidence in PNG’s future and called for more active conversation about the "Asian century".

 

Addressing some of the country’s major business houses and notable stakeholders in the private sector, ANZ Group CEO, Mike Smith, said he was confident about Papua New Guinea’s future and called for a more active national conversation on how to make the most of the opportunities presented by the Asian century.

 

The Pacific region has been steadily influenced by the Asian economy; the first shipment of gas earlier this year to Japan is further proof of this.

 

He said the Asian century is a perfect match for PNG’s location despite the country’s many challenges.

 

This is the reason ANZ commissioned the 2013 report, "Bold Thinking: Imagining PNG in the Asian Economy".

 

Smith also remarked that although his bullish view on PNG’s future still remains, there is a striking gap between the country’s potential and the current reality, and this he attributed to investment risk currently overwhelming PNG’s geological and geographical potential.

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