Sydney, Dec 9:
Papua New Guinea (PNG) Prime Minister James Marape on Tuesday outlined an ambitious vision for transforming the South Pacific nation into a leading green economy over the next 10 to 20 years. Speaking during a fireside chat at the PNG Investment Leaders Summit in Sydney, Marape said the country intends to identify strongly with renewable energy and environmentally sustainable development as it looks ahead.
According to Xinhua News Agency, Marape emphasised that PNG’s greatest investment advantage lies in its ability to develop a greener economic model. He noted that the country’s vast forests and expansive marine areas offer significant opportunities for carbon offset initiatives, positioning PNG as a nation with the potential for a negative carbon footprint. He added that the government’s major investments in the law and justice sector were intended to enhance investor confidence and ensure a stable business environment.
The PNG Investment Leaders Summit is the highlight of PNG Investment Week, organised by the PNG Chamber of Resources and Energy and held in Sydney from December 8 to 11. This year’s forum, themed “Strong Together — Investing for the Future,” expanded its discussions to include infrastructure, agriculture, finance, digital innovation, and renewable energy, in addition to resources.
Delivering his keynote address, Marape said the government has recalibrated its economic priorities. While continuing to support mining and petroleum, PNG is now placing stronger emphasis on non-resource sectors such as agriculture, forestry, fisheries, manufacturing, construction, and tourism—areas viewed as crucial for long-term, inclusive growth.
Australian Prime Minister Anthony Albanese, also addressing the summit, reaffirmed his country’s commitment to being a “proud and reciprocal” economic partner to PNG. He highlighted growing PNG exports to Australia and stressed that Australia’s investments are focused on strengthening local employment, infrastructure development, and supply chains in PNG.
The summit, leaders said, marks an important step towards building a greener, diversified, and resilient economic future for Papua New Guinea.
