Papua New Guinea (PNG) is progressing in its transition to the use of green energy and having a much greener economy in the future and is looking for potential partners to go on this journey.

It is for this particular reason that Prime Minister James Marape is urging investors to help PNG transition from a resource-dependent economy to a manufacturing and green-energy powerhouse, as per the country’s 20-year vision.

Speaking during a live Question & Answer at the PNG Investment Week in Sydney Australia, PM Marape said looking ahead to 2040 and 2050, ordinary Papua New Guineans must feel the benefits of investment through more local businesses and the export of finished, high value products.

“Incubate more local business and migrate to a manufacturing-based economy,” he said.

“Local produce must translate to finished products for export.”

PM Marape told investors the Government is working to shift PNG from “resource potential to a predictable pipeline of financeable, climate-resilient projects” that attract global capital at scale.

He confirmed PNG aims to define itself internationally as a clean, green energy economy, powered by hydro resources and supported by the country’s vast forests and oceans.

“Australia is moving towards closing their fossil fuel facilities. We’re looking at supplying Australia with energy harvested from PNG,” he said.

“Our negative carbon footprint is an advantage we offer investors.”

He added that “conservation dollars” from carbon-offset markets could become a major new revenue stream, calling on companies with significant emissions to partner with PNG to keep forests standing.