TAG: Asia
Completing the full infrastructure development cycle from investment to exit is a fundamentally innovative task, requiring agile thinking and principled decision-making to develop sustainable new assets.
While the National Executive Council under new Prime Minister James Marape may have received a healthy sprinkling of fresh talent, the latest political leaders at the helm find themselves facing some familiar problems as they attempt to steer Papua New Guinea into its next phase of economic development.
Port Moresby has benefitted from accelerated infrastructure development in recent years, spurred on by Papua New Guinea’s chairmanship of APEC in 2018. Although there was some domestic criticism related to spending large sums of public money on hosting world leaders in a moment of elevated national debt, 76% of CEOs expect the long-term economic impact of APEC 2018 to be positive or very positive, with only 1% expecting it to have a negative impact. It is hoped that a year in the APEC spotlight will translate into mutually beneficial trade and investment relationships with the region’s major powers.