The Business Council of Papua New Guinea (BCPNG) and Australia–Papua New Guinea Business Council (APNGBC) have welcomed the constructive discussions at the 32nd Australia and Papua New Guinea Ministerial Forum during the Business Dialogue held at APEC Haus in Port Moresby on 20 October, highlighting the important role of private-sector investment in driving sustainable economic growth, strengthening business partnerships, and creating opportunities for communities across Papua New Guinea.
The Dialogue brought together Ministers, senior officials, and business representatives from both countries to discuss opportunities to strengthen bilateral economic relations, address barriers to investment and encourage further Australian commercial investment in PNG.
Both councils welcomed the support expressed by PNG Minister for International Trade and Investment, the Hon Richard Maru, and the constructive engagement of Australian Government Ministers who attended.
The discussions reinforced a shared interest in identifying practical ways to encourage new Australian investment, support the expansion of established Australian businesses operating in PNG, and broaden investment opportunities beyond the traditional resources sector.
A shared focus on practical investment outcomes
Australia remains an important economic partner for Papua New Guinea. Building on this relationship will require continued collaboration between both governments and the private sector to strengthen investor confidence, address barriers to doing business and unlock opportunities across strategic sectors.
The councils identified several areas where continued attention and cooperation could help support investment, including:
- Investment attraction and industry development: Exploring measures to encourage Australian investment, strengthen bilateral trade and expand opportunities across agriculture, value-added processing, manufacturing, tourism, infrastructure and services, alongside established resource-sector activity.
- A stronger operating environment: Improving the consistency, efficiency, transparency and timeliness of government administration, strengthening investor confidence and addressing practical constraints affecting business operations.
- Reliable and affordable electricity: Supporting efforts to improve power reliability and exploring opportunities for commercially sustainable private-sector investment in generation, transmission and supply. Drawing from BCPNG’s recent Electricity Opportunity Cost Study they emphasized the value of continued cooperation on electricity sector reform.
- Local business participation: Building stronger partnerships between Australian and Papua New Guinean businesses, creating local employment and strengthening domestic supply chains and increasing opportunities for PNG businesses to participate in investment and development projects
- Skills and workforce development: Supporting the development and retention of skilled Papua New Guinean workers while strengthening professional exchanges and technical cooperation between Australian and PNG businesses.
- Aid and Aid for trade: Councils recognize the important contribution of Australia’s development cooperation to Papua New Guinea’s economic growth highlighting opportunities to strengthen infrastructure delivery, expand Papua New Guinea business participation and improve bilateral trade and market access.
- Security and business protection: Strengthening cooperation to address law and order challenges, protect businesses and investments, and improve cybersecurity to support a safer, more stable and competitive business environment.
- PNG Diaspora Engagement: Recognising the PNG diaspora in Australia as an important bridge for strengthening bilateral business relationships, investment opportunities and people-to-people connections.
The councils emphasised that successful investment must deliver tangible benefits for Papua New Guinea, including jobs, skills, stronger local enterprises and increased participation in regional and international supply chains.
Turning dialogue into action
Both councils recognise that encouraging investment requires more than identifying opportunities. It also requires a clear understanding of the practical barriers businesses face and a coordinated approach to addressing them.
The councils support further examination of measures that could encourage commercial investment, drawing on the experience and evidence of businesses operating in both countries.
They will continue engaging with their respective governments and relevant business and senior officials working groups to contribute private-sector insights, identify priority issues, advocate for practical solutions and support agreed next steps.
The councils also reaffirmed the importance of working collaboratively to ensure that investment opportunities align with Papua New Guinea’s development priorities and create lasting value for businesses and communities in both countries.
Susil Nelson Kongoi, President of Business Council of Papua New Guinea, said:
“Papua New Guinea has significant opportunities to attract investment, grow local businesses and create employment. Working closely with our Australian partners, we want to help ensure that businesses have the confidence and conditions needed to invest, expand and contribute to PNG’s long-term economic development.
“The Ministerial Business Dialogue was a positive opportunity to bring these issues forward. The next step is to maintain the momentum and continue working with government and industry to achieve practical outcomes.”
Andrew Cairns, President of the Australia–Papua New Guinea Business Council, said:
“The Dialogue was a constructive step in strengthening the conversation between government and business about how we can encourage more Australian commercial investment in Papua New Guinea.
“Our members see significant the opportunities to work alongside Papua New Guinean businesses across a range of sectors beyond resources, creating stronger commercial partnerships, supporting local business growth and delivering shared economic benefits
“We welcome the constructive engagement from both governments and look forward to continuing to working closely with BCPNG and contributing our members’ experience and expertise to turn these discussions into meaningful outcomes.”
A partnership focused on shared prosperity
The Australia–Papua New Guinea Business Council and the Business Council of Papua New Guinea will continue working together to strengthen commercial relationships, advocate for a competitive and predictable business environment, and support investment that contributes to sustainable economic growth.
Both councils believe that a strong partnership between government and the private sector is essential to unlocking PNG’s economic potential and building a more diversified, resilient and inclusive economy.
