PNG Eyes Major Investment as Chinese Property Billionaire Visits Port Moresby

Papua New Guinea is seeking to attract fresh overseas investment following the arrival of Chinese billionaire and R&F Group co-founder Zhang Li in Port Moresby to assess business prospects across several key industries.

The visit is expected to open discussions on potential investments in housing, tourism, mining, real estate and infrastructure, with government leaders welcoming the opportunity to strengthen economic ties between PNG and China.

 PNG Eyes Major Investment as Chinese Property Billionaire Visits Port Moresby

Mr Li said he was delighted to visit Papua New Guinea after hearing about the country's potential from Papua New Guinea's Ambassador to the People's Republic of China, Dr Thaddeus Kambanei.

"It feels very refreshing to be in Papua New Guinea," Mr Li said.

He said the R&F Group has spent more than three decades developing cities and communities, delivering close to two million homes while also constructing commercial complexes and more than 100 luxury hotels throughout China.

Mr Li acknowledged that China's property sector has faced difficulties in recent years but said the company had broadened its operations over the past decade by investing in non-ferrous mining projects, including ventures in South Africa.

He said Papua New Guinea offered promising opportunities as the company continued to expand its global investment footprint.

National Capital District Governor Powes Parkop welcomed Mr Li and his delegation, saying PNG was well positioned for long-term investment in housing, tourism, mining, oil and gas, forestry and fisheries.

Governor Parkop said Port Moresby continues to face increasing demand for housing, while the country's natural attractions, diverse culture and untouched environment create strong prospects for tourism development.

He also pointed to the long-standing relationship between Papua New Guinea and China's Guangdong Province, as well as the sister-city partnership between Port Moresby and Shenzhen, saying those links could encourage greater business cooperation.

Mr Li is scheduled to attend a luncheon hosted by Governor Parkop before joining International Trade and Investment Minister Richard Maru for a dinner meeting, where investment opportunities and possible partnerships with the R&F Group will be discussed.

"It feels very refreshing to be in Papua New Guinea," Mr Li said.