PRIME Minister James Marape has reaffirmed the Government’s commitment to sustainable and inclusive economic growth and called on European and Papua New Guinean businesses to “grow together” through partnerships that would benefit everyone.
This means creating jobs, stimulating investment, transferring technology and improving livelihoods.
Marape said that PNG remained open for business and was committed to providing a stable and predictable environment for responsible investment and private sector development.
During the two-day EU-PNG Business Forum in Port Moresby this week, representatives of 77 companies, including 23 from Europe, deepened economic cooperation, identified new investment opportunities, and strengthened long-term partnerships.
They explored business opportunities in renewable energy and safe water, digital transformation and connectivity, inclusive and sustainable extractive industries and development of agriculture value chains.
The programme featured practical business sessions on exporting to the EU market and doing business in PNG, classes on EU deforestation regulation and site visits.
EU Ambassador to PNG Erika Hasznos spoke about a shared vision of an open, sustainable and prosperous Indo-Pacific, about translating political commitments into bankable projects, and about building long-term, high-quality partnerships between European and PNG businesses.
PNG’s strategic location, abundant natural resources, and commitment to sustainable development makes it an important partner for the European Union.
The forum highlighted the European Union’s Global Gateway initiative as a key mechanism for supporting sustainable investment in infrastructure, connectivity, renewable energy, water security, digital transformation, and private sector development.
A major highlight was the signing of a new Global Gateway investment, the water wise communities project loan and grant agreement.
