Cover of The Report: Papua New Guinea 2017

The Report: Papua New Guinea 2017

After a number of challenging years, PNG is starting to hit its equilibrium point again. It has largely passed through the period of difficult adjustments, and now some balance has returned. A number of long-planned projects are progressing and new areas of opportunity are being explored.

Although external forces have seen PNG experience challenging economic conditions in recent times, the general long-term goal remains the same. One of the country’s greatest strengths is the longevity of its planning. Prime Minister O’Neill’s victory in the 2017 election solidifies the government’s agenda and substantially improves political stability. Continuity in planning, along with cohesion with the private sector, is fundamental to attracting foreign direct investment and stimulating economic growth. Hosting international events such as the 2018 APEC summit should have a positive impact on international perceptions, while further planned investments in the extractive industries look set to boost the economy.

 

OBG & Papua New Guinea

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