PNG business summit attracts many investors

Investors, businesses houses and hundreds of interested individuals from PNG and Australia have turned out for the PNG Advantage Investors summit in Brisbane Australia. About 400 attended the summit surpassing last year’s 300 attendees. The two day summit is dedicated to the promotion of business and investment in PNG.

This is the fifth Papua New Guinea Advantage summit and the first to be held in Australia. Prime Minister  Peter O’Neill opened the summit with his opening address and confidently assured investors and business houses that the outlook of the country looks very good. "We are in the period of growth and economic expansion that has never been seen in Papua New Guinea before.

"At the same time our GDP is growing our other areas such as Government revenue have been impacted by other global factors beyond our control. "The down turn of commodity prices has affected PNG and of course our 2015 budget just like any countries around the World.” Organising committee chairman David Conn said Day one (yesterday) - the investment summit focused not only on what was planned by the major players in LNG but on how PNG’s economy and businesses were restructuring to tackle future growth.

He said day two (today) - Infrastructure summit would be dedicated to the role the privacy sector can play in PNGs ambitious Infrastructure development goals. About 40 speakers have been lined up for this event. Today’s program will see open discussion opportunities for Australia companies in PNG infrastructure, Nation building - PNGs National infrastructure, the future of telecommunications in PNG,and infrastructure case studies