Papua New Guinea (PNG) will continue to be a strategic location for investment in the resource sector given that the Asian markets are expected to increase their demands in energy and raw materials into the future.
That was the assurance given by Prime Minister (PM) James Marape to stakeholders, investors, and potential resource sector investors at the very recent 2021 Mining and Petroleum Conference & Exhibition.
Marape said PNG’s location is strategic that world class resource companies like ExxonMobil and Total have invested in the resource sector here, but probably the most important is the expected expansion of the Asian markets in the next 10 to 20 years and on ward into the future, where demand will increase for resources.
“Papua New Guinea, with close proximity to the Asian marketplace, is a very exciting place for investment,” said PM Marape.
He said PNG with its good relationship with countries like China, Japan, India, Indonesia, and the Philippines can supply oil and gas and raw minerals to their markets to meet their demands. As such, this poses a good opportunity for investors in the resource sector. Therefore, he added that by investing in PNG, they can expect good returns on their investments going into the future.
The PNG Mining and Petroleum Conference & Exhibition provides comprehensive technical updates and offers an excellent opportunity to meet all the players in the PNG resource industry, including the government, and for joint venture discussions, networking, and promotions. The event also informs delegates on current activities in the PNG resource industry and highlights new developments, advanced prospects, new discoveries, and exploration as well as economic and social achievements.
This year’s event, due to the COVID-19 pandemic and certain travel restrictions, was virtually staged from Brisbane, Australia with speakers and participants connecting in from different locations to join and participate in the Conference. PM Marape participated from Port Moresby on the 01st of December.