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Port Moresby
May 26, 2022

Turnbull: 5,000 Australian Companies with $5.8 billion investment in PNG

An Australian-Papua New Guinea Business breakfast was held in Port Moresby this morning, before the departure of the Australian Prime Minister.

Prime Minister, Malcolm Turnbull, met with PNG business leaders across various sectors.

He says Australia has a vested interest in the Papua New Guinean economy.

“Almost 5,000 companies are doing business in PNG,” says Turnbull.

He said Papua New Guinea receives a half billion dollars in aid.

Papua New Guinea should remain open to Australian trade and both countries share a colorful history together.

“We must continue to work together to ensure that policy settings attract rather then deter investment,” says Turnbull.

“Protectionism, as we know is the road to poverty.”

Turnbull shared Australia’s experiences in diversifying the economy and urged PNG to do the same.

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