PNG Prime Minister Marape Launches 2024 Papua New Guinea Investment Week
Prime Minister Hon. James Marape has officially inaugurated the 2024 Papua New Guinea Investment Week, a new initiative by the PNG Chamber of Resources & Energy (PNG CORE). The event is set to take place at the International Convention Centre in Sydney, Australia, from December 6-11, 2024.
This rebranded event represents a departure from the traditional PNG Resources & Energy Investment Conference and Expo. While the former was a key platform for engagement between international stakeholders and the PNG government in the resources and energy sectors, the new format of Investment Week aims to broaden the focus to include a diverse array of industries critical to Papua New Guinea's economic development.
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| Prime Minister Marape Launches 2024 Papua New Guinea Investment Week |
PNG CORE expects that the expanded five-day event will significantly enhance investment opportunities for the country. The agenda will now cover various sectors including finance, agriculture, fisheries, renewables, and infrastructure, offering a broader platform for international and multilateral partners to promote Papua New Guinea as a prime investment destination.
Prime Minister Marape praised PNG CORE President Mr. Anthony Smare and his team for their strategic shift from a singular focus on resources and energy to a more inclusive investment approach. He expressed his support for the new format, which he believes will be crucial for sustaining and enhancing investment in the country.
“This new approach will be instrumental in maintaining and promoting investment in our country,” Prime Minister Marape stated. “The Government is fully committed to partnering in this initiative, reflecting our broader strategy to expand investment beyond the mining, petroleum, and energy sectors.”
The Prime Minister highlighted that the rebranding to 'investment week' will allow sector-specific agencies, including the National Fisheries Authority, National Forest Authority, and various agriculture agencies, to actively participate and promote their respective sectors.
“This inclusive approach will enable a more comprehensive promotion of Papua New Guinea as a prime investment destination,” he added.
While acknowledging the fundamental role of the mining, petroleum, and energy sectors in the nation’s economy, Prime Minister Marape expressed optimism about the potential for increased investment in other key areas.
“I fully commend PNG CORE for their visionary leadership and eagerly anticipate the event. The Government will provide its full support to ensure the success of this significant initiative,” he concluded.
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