First France–Papua New Guinea Business Forum to Generate Jobs

The Papua New Guinea Prime Minister,. Peter O’Neill has begun Inaugural France–Papua New Guinea Business Forum by highlighting the politician stability and ongoing economic growth that makes Papua New Guinea one of the most sound developing markets in the world for foreign investment.

“Papua New Guinea offers international business the key components that are required to make sound investment,” the Prime Minister said in addressing around 200 senor business people in the French capital Paris on Wednesday.

“We are now into the most politically stable periods in the history of our country.

“Over three terms of Parliament we have only had two Governments, and this enables you in the business community to invest in Papua New Guinea with certainty.

“We have continuity of policy and stability in our number on the floor of Parliament.

“Our economy continues be strong in the face of a global economic slowdown and commodity price concerns.

“I was frank and open with the French investment community and said that just like all commodity exporters, we have been adversely affected by the lower prices.

“But our Government has managed this challenge effectively and our economy will emerge even stronger than before prices began to fall.”

The Prime Minister fielded a series of questions from the floor of the forum that covered a range of sectors including transportation, infrastructure, agriculture and the oil and gas sector.

“What we have done in Paris this week is ensure the French business and investment community has accurate information about Papua New Guinea.

“These companies are creating jobs for our people, they are providing export opportunities for our farmers and they are providing the machinery and technical expertise that is helping our economy to grow.

“Knowledge is power in business and this forum is creating awareness amongst senior French business people and the forum is proving to be an invaluable success.”

The forum and related meetings continue through Wednesday and Thursday and will include high level discussions with TOTAL SA in preparation for the beginning of the construction phase of the Papua LNG project.

Prime Minister O’Neill will make history on Thursday when he becomes the first Prime Minster of the Independent State of Papua New Guinea to have a formal bilateral meeting with the President of the Republic of France.