Papua New Guinea Prime Minister Affirms Malaysia's Vital Role in Bilateral Ties

 Bank South Pacific Chief Executive Officer Mark Robinson shared his optimism regarding Papua New Guinea's economic potential over the next decade with Prime Minister and Treasurer Hon. James Marape.

During the meeting, Mr. Robinson conveyed his enthusiasm for the country's economic prospects, emphasizing the bank's commitment to contributing to Papua New Guinea's growth.

Prime Minister Marape, in turn, highlighted the nation's readiness for significant expansion, particularly driven by the development of six major resource projects set to commence in 2024. These pivotal projects include the reopening of the Porgera mine, the progression of the Wafi-Golpu mine, and strategic developments such as Papua LNG, P’nyang LNG, Pasca LNG, and the promising new Wildebeest gas discovery by ExxonMobil in the Eastern Papuan Fold Belt.

Expressing high expectations for a substantial economic surge, Prime Minister Marape set a noteworthy goal, envisioning Papua New Guinea reaching a K200 billion economy by the year 2030.

"We want you to grow higher over the next 10 exciting years coming up," Prime Minister Marape informed Mr. Robinson during the meeting.

Mr. Robinson, reciprocating the confidence, stated, "I’m very excited, and there is a lot more we can do to serve the country and the region, and be more efficient." He highlighted the bank's significant impact on the local community, with approximately 85% of the bank being owned by PNG and an additional 10% owned by Pacific countries.

The meeting between Prime Minister Marape and Mr. Robinson covered various crucial issues related to the PNG economy, reflecting a shared optimism and commitment to collaborative efforts in harnessing the economic opportunities that lie ahead.

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Papua New Guinea Prime Minister Affirms Malaysia's Vital Role in Bilateral Ties