The Business Council of Papua New Guinea (BCPNG) and
Australia–Papua New Guinea Business Council (APNGBC) have
welcomed the constructive discussions at the
32ndAustralia and Papua New Guinea Ministerial Forum
during the Business Dialogue held at APEC Haus in Port
Moresby on 20 October, highlighting the important role of
private-sector investment in driving sustainable economic
growth, strengthening business partnerships, and creating
opportunities for communities across Papua New
Guinea.
The Dialogue brought together Ministers,
senior officials, and business representatives from both
countries to discuss opportunities to strengthen bilateral
economic relations, address barriers to investment and
encourage further Australian commercial investment in
PNG.
Both councils welcomed the support expressed
by PNG Minister for International Trade and Investment, the
Hon Richard Maru, and the constructive engagement of
Australian Government Ministers who attended.
The
discussions reinforced a shared interest in identifying
practical ways to encourage new Australian investment,
support the expansion of established Australian businesses
operating in PNG, and broaden investment opportunities
beyond the traditional resources sector.
A
shared focus on practical investment
outcomes
Australia remains an important
economic partner for Papua New Guinea. Building on this
relationship will require continued collaboration between
both governments and the private sector to strengthen
investor confidence, address barriers to doing business and
unlock opportunities across strategic sectors.
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The
councils identified several areas where continued attention
and cooperation could help support investment,
including:
- Investment attraction and
industry development: Exploring measures to
encourage Australian investment, strengthen bilateral trade
and expand opportunities across agriculture, value-added
processing, manufacturing, tourism, infrastructure and
services, alongside established resource-sector
activity. - A stronger operating
environment: Improving the consistency, efficiency,
transparency and timeliness of government administration,
strengthening investor confidence and addressing practical
constraints affecting business
operations. - Reliable and affordable
electricity: Supporting efforts to improve power
reliability and exploring opportunities for commercially
sustainable private-sector investment in generation,
transmission and supply. Drawing from BCPNG’s recent
Electricity Opportunity Cost Study they emphasized the value
of continued cooperation on electricity sector
reform. - Local business
participation: Building stronger partnerships
between Australian and Papua New Guinean businesses,
creating local employment and strengthening domestic supply
chains and increasing opportunities for PNG businesses to
participate in investment and development
projects - Skills and workforce
development: Supporting the development and
retention of skilled Papua New Guinean workers while
strengthening professional exchanges and technical
cooperation between Australian and PNG
businesses. - Aid and Aid for trade:
Councils recognize the important contribution of Australia’s
development cooperation to Papua New Guinea’s economic
growth highlighting opportunities to strengthen
infrastructure delivery, expand Papua New Guinea business
participation and improve bilateral trade and market
access. - Security and business
protection: Strengthening cooperation to address
law and order challenges, protect businesses and
investments, and improve cybersecurity to support a safer,
more stable and competitive business
environment. - PNG Diaspora
Engagement: Recognising the PNG diaspora in
Australia as an important bridge for strengthening bilateral
business relationships, investment opportunities and
people-to-people connections.
The councils
emphasised that successful investment must deliver tangible
benefits for Papua New Guinea, including jobs, skills,
stronger local enterprises and increased participation in
regional and international supply
chains.
Turning dialogue into
action
Both councils recognise that
encouraging investment requires more than identifying
opportunities. It also requires a clear understanding of the
practical barriers businesses face and a coordinated
approach to addressing them.
The councils support
further examination of measures that could encourage
commercial investment, drawing on the experience and
evidence of businesses operating in both
countries.
They will continue engaging with their
respective governments and relevant business and senior
officials working groups to contribute private-sector
insights, identify priority issues, advocate for practical
solutions and support agreed next steps.
The
councils also reaffirmed the importance of working
collaboratively to ensure that investment opportunities
align with Papua New Guinea’s development priorities and
create lasting value for businesses and communities in both
countries.
Susil Nelson Kongoi, President
of Business Council of Papua New Guinea,
said:
“Papua New Guinea has
significant opportunities to attract investment, grow local
businesses and create employment. Working closely with our
Australian partners, we want to help ensure that businesses
have the confidence and conditions needed to invest, expand
and contribute to PNG’s long-term economic
development.
“The Ministerial Business
Dialogue was a positive opportunity to bring these issues
forward. The next step is to maintain the momentum and
continue working with government and industry to achieve
practical outcomes.”
Andrew Cairns,
President of the Australia–Papua New Guinea Business
Council, said:
“The Dialogue was a
constructive step in strengthening the conversation between
government and business about how we can encourage more
Australian commercial investment in Papua New
Guinea.
“Our members see significant the
opportunities to work alongside Papua New Guinean businesses
across a range of sectors beyond resources, creating
stronger commercial partnerships, supporting local business
growth and delivering shared economic
benefits
“We welcome the constructive
engagement from both governments and look forward to
continuing to working closely with BCPNG and contributing
our members’ experience and expertise to turn these
discussions into meaningful
outcomes.”
A partnership focused on
shared prosperity
The Australia–Papua
New Guinea Business Council and the Business Council of
Papua New Guinea will continue working together to
strengthen commercial relationships, advocate for a
competitive and predictable business environment, and
support investment that contributes to sustainable economic
growth.
Both councils believe that a strong
partnership between government and the private sector is
essential to unlocking PNG’s economic potential and
building a more diversified, resilient and inclusive
economy.
