PNG offers huge opportunities for Fiji, says deputy PM

Fiji’s Deputy Prime Minister Manoa Kamikamica has urged businesses to look closely at Papua New Guinea, describing the country as the “next Dubai for the Pacific” as both nations seek to deepen their economic relationship.

Speaking at the relaunch of the Fiji-PNG Business Council, Mr Kamikamica said stronger transport and business connections could help Fiji and PNG move towards a much larger trading and investment partnership.

 PNG offers huge opportunities for Fiji, says deputy PM

He said reliable Fiji Airways services to PNG would be particularly important in bringing investors, business operators and other commercial interests closer together.

According to Mr Kamikamica, improved connectivity would allow companies to pursue new markets, expand their operations and make greater use of opportunities emerging in PNG.

“There are some very significant opportunities that are in front of both countries, and it’s just a matter of when, in terms of how we can scale up the economic relationship,” he said.

He said Fiji needed to recognise PNG’s growing economic potential rather than overlook the opportunities available in the country.

Mr Kamikamica also floated the idea of businesses being listed on both countries’ stock exchanges, which could broaden access to investors and provide companies with additional avenues for growth.

PNG-based businesses such as BSP, Credit Corporation and TISA Insurance have already established a presence in Fiji. At the same time, the Fiji National Provident Fund has a significant shareholding in BSP’s listed operation in PNG.

Investment Fiji Board chairman Filimoni Waqabaca said Fiji should become more proactive in pursuing business opportunities in PNG.

“If we can tap these opportunities that exist in a country of such size, not only will PNG benefit, but we will also reap the positive results that will come out of this business relationship,” he said.

Mr Waqabaca said the development of strong local enterprises should remain a priority, noting that successful domestic businesses could create a stronger foundation for attracting overseas investors.

The Fiji-PNG Business Council is expected to support closer cooperation between the private sectors of the two countries.