by Mickey Kavera – EM TV, Port Moresby
On the 27th November, the government of Papua New Guinea and the UN Development Programme will release a new national human development report that will provide a fresh perspective on Papua New Guinea’s extractive industries, bring in global experience and propose ways to translate economic gains into practical sustainable outcomes.
The report says that the wealth from extractive industries has the potential to significantly boost the well-being of Papua New Guinean citizens but the country’s development could be undermined if resources are not used in economically, socially and environmentally sustainable ways.
Extractive activities in Papua New Guinea have grown exponentially over the decades and currently lie at the heart of country’s high economic rates.
Forecasts show that in 2015, new projects will bring up to 20 per cent GDP growth in the national economy. The report states this is a critical time for Papua New Guinea to capitalise on revenue flows.