Business News

Partnerships Crucial in 2018 to Promote Papua New Guinea

The Government has committed to working together with the business community in 2018 to improve the lives of Papua New Guineans.

Prime Minister Peter O’Neill, speaking at the Business Council’s Annual Back to Business Breakfast this morning, acknowledged the important role of the business sector in driving the economy.

He said given the country’s hosting of APEC this year, this was also an opportune time for government to work together in partnership with business to promote PNG as an ideal investment destination.

After arriving back from the World Economic Forum in Switzerland, Prime Minister Peter O’Neill got down to business, addressing members of the Business Council at the Annual Back-To-Business Breakfast.

Mr O’Neill acknowledged the difficult situation facing the country, especially in regards to issues affecting business – issues which include the lack of access to foreign currency – which has cost jobs in various sectors, especially over the last eighteen months.

Despite these challenges, the Prime Minister is optimistic – especially at a time when the eyes of APEC economies will be on PNG as the country hosts APEC this year.

According to the PM, the government is doing all it can to make APEC a success – one way is increasing efforts to broaden the economic base of the country – beginning with an increasing focus on the renewable sector.

In light of challenges that remain, the Prime Minister has called on Business to work together with government, in various capacities, but particularly through Public-Private-Partnerships.

President of the Business Council of PNG, Robert Nilkare, also spoke of the need for partnership between both the public and private sectors.

He said despite different views on a number of issues, it was now time for all stakeholders to work together for the greater benefit of Papua New Guinea.

This morning’s event was the first official engagement for Greg Pawson, Kina Bank’s CEO & Managing Director.

Mr Pawson also provided an overview of their projections of the economy over the next 11 months.

According to Mr Pawson, there are areas that PNG can take the lead in on a global level – he alluded to some advancements by Kina, as an example.

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