Papua New Guinea Prime Minister James Marape says Papua New Guinea has never been an “uncertain place of investment”.
He said this in Port Moresby on Wednesday (December 1 2021) when virtually addressing the 2021 PNG Mining and Petroleum Conference & Exhibition in Brisbane.
“We are an oil, gas and mining nation,” the Prime Minister said.
“This is evident in the fact that quite a substantial part of our GDP has its anchor in the mining and oil and gas space.
“Papua New Guinea is a traditional mining and oil and gas country.”
PM Marape said irrespective of whichever government was in place, by way of politics, “our goal post remains fixed and static”.
“That is something that investors right across Planet Earth must know from the outset,” he said.
“We are a robust democracy, our judiciary is totally independent from the executive government, our Parliament functions in every term.
“We’re going into election in time and on schedule (in 2022) to elect our 11th Parliament next year.
“We have successfully held 10 democratic elections since 1977.”
PM Marape said despite ongoing law-and-order problems, “our country has never failed to live on, never failed to honor legally-binding commitments”.
“We’re picking up social and local issues around all projects that we sign agreements with,” he said.
“We, as Government, have been important partners to all mining and oil and gas companies, who have lived and operated in our country.”
PM Marape said PNG had hosted major international companies like Placer Dome, BHP and Chevron in the past and ExxonMobil, Total, Barrick, Santos, JS Nippon, Newcrest and Harmony, to name a few.
“It is undisputed that Papua New Guinea prides itself as a welcome business address for world-class investors,” he said.
“Politics can be played by Papua New Guineans from all strata of society, but Papua New Guinea lives on.
“We play politics in the robustness of our democracy, but the goal posts for investment, are fixed because we play within a robust Constitution.
“Our country believes in the rule of law, and what is legally signed will carry on, so I’d like to encourage everyone that Papua New Guinea is not a place to fear in as far as the investment dollar or kina is concerned.
“We are open for business today, as we have been open for business over the last 46 years, and we will be open for business into the next 46 years and beyond.”
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