Abundant Natural Resources
Papua New Guinea is rich with natural resource. Its economy is distinctively dualistic – a modern economy based on mining (gold, silver, copper, Nickel) and petroleum and natural gas production, and a traditional economy based on fishing, forestry, coffee, palm oil, copra, cocoa and vanilla which provides livelihood for 85% of the rural population.
With such abundance of resources, Papua New Guinea is among the top of the world’s investment destination.
Stable Economic Growth
Papua New Guinea’s GDP Growth is expected at 3.4% in 2022.
Papua New Guinea like any other countries has gone into an economic recession because of the COVID-19 pandemic in 2020 which affected the world commodity prices, especially for oil, gas and mierals which were the key engines of growth.
However, other sectors thrived in 2021 as the country experienced a more stable year. The GDP Growth rate for PNG in 2021 was at 1.3%.
Statistics indicated have been obtained from the Asian Development Bank.
Liberal Investment Environment
PNG aspires for an investment regime that is transparent and compatible with international best practice which is conducive for Foreign Investment.
It promotes a liberal investment environment, which welcomes Foreign Investment in any sector.
Papua New Guinea is continuously embarking on creating a conducive environment by undertaking major reforms.
The current investment condition is also comparable as any conducive investment environment in the world.