The Prime Minister reported significant economic growth, noting an increase from K79 billion in 2019 to a projected K122 billion by the end of this year. He expects the economy to reach K130 billion next year and K150 billion by 2027. “I assure those who choose to invest in PNG that you are coming into a growing economy, not one that is stagnant,” he stated, emphasizing that investors can expect a quicker return on investment in Papua New Guinea compared to larger economies. Prime Minister (PM) James Marape announced this positive outlook on Friday, October 11, 2024, during the groundbreaking ceremony for the Paga Hill Special Economic Zone (SEZ) Satellite Casino in Port Moresby city. He emphasized how Port Moresby will drive the country's economic transformation. This ambitious project includes the development of hotel rooms and is supported by an international developer, with plans to finish it in six months. Marape specified that the casino will be exclusively for overseas guests, tourists, and high-earning Papua New Guineans. It will not be open to the general public. Peter Barge, Chairman of the Paga Hill Development Company (PHDC), confirmed that the project aims to attract tourists and expatriates. He assured that strict entry requirements will make the casino comparable to those in Singapore. “In modern PNG, you need facilities, you need entertainment, all manner of amenities for both citizens and visitors to enjoy living in our country,” said Prime Minister Marape. He believes there is no better place to start this new growth than in Port Moresby, which has been a hub of government and trade for the last 100 years. Reflecting on the city’s rich history, Marape highlighted its strong ties to the Motu-Koita people, particularly the Hanuabada villagers, acknowledging the area as the birthplace of modern Papua New Guinea. In sharing his vision for the future, Marape recalled his recent speech at the United Nations General Assembly in New York City, where he emphasized Papua New Guinea's commitment to producing finished goods instead of just exporting raw materials. Marape further addressed the government’s dedication to solving issues related to law and order, improving education, and enhancing healthcare as part of a comprehensive plan for a modern Papua New Guinea. He expressed optimism about attracting tourists from key regions, including China, Australia, and Southeast Asia, who will enjoy what the Paga Hill Precinct has to offer. He encouraged investors to prioritize local employment, especially for the Motu-Koita community. “Our vision for Port Moresby includes transforming the area from Koki to Konebada into a modern center for business and commerce, and establishing the Waigani Precinct as the governmental heart of the city,” explained Prime Minister Marape. “These two hubs will become symbols of PNG’s ambition to rise and progress on the global stage, developed at the very earliest.” Looking ahead, he recognized the success of Vision City Mega Mall as a shining example of what Port Moresby can achieve, serving as inspiration for future developments. “I offer my congratulations and commendations and look forward to every step forward. May PNG prosper in this development,” he concluded, sharing a vision of unity and hope for the future of the nation.