Trade & Investment

Despite Papua New Guinea’s low ranking in the World Bank’s “Doing Business 2015” report, it regularly draws foreign capital in the billion-dollar-a-year range. The country is attractive for a number of reasons. It remains one of the most liberal economies in the developing world, offering national treatment and few restrictions on investment. It is also blessed with abundant natural resources. The country has sizeable deposits of copper, oil, gas and silver, as well as significant tracts of saleable lumber. On the trade side, it is an open market with low tariffs. With one major resource project already completed and another going ahead, PNG has set the right tone to attract investors and has a good pipeline of activity. More major projects could follow, and importantly smaller players and non-resources investors are starting to see the potential of the nation.

This chapter contains a viewpoint from Xi Jinping, President of China; and interviews with Josaia Voreqe Bainimarama, Prime Minister of Fiji; Miguel Arias Cañete, EU Commissioner for Climate Action and Energy; and Ivan Pomaleu, Managing Director, Investment Promotion Authority (IPA).