He said that at a State dinner he hosted last night for visiting Japanese Prime Minister Shinzo Abe, his wife Akie Abe and their delegation, which included business leaders.
“Your visit will further strengthen our relationship and I want to use this occasion to encourage your industries, and your businesses, to continue investing in PNG,” he told Abe.
“This is a good time to invest in PNG and enter into joint ventures and other forms of collaboration, with our own growing private sector.
“We welcome additional investment in our resource sector but we need new and added investment in other sectors like construction, agriculture and tourism.”
O’Neill said investing in PNG could be challenging and exciting.
“Our GDP over the last decade has averaged 8% a year. Next year it will reach 21%, principally due to the export of LNG to Japan and other countries,” he said.
“But we don’t just enjoy strong GDP growth. We have an essentially stable political environment – even though politics can at times be challenging, just as I am sure it is in Japan.
“But our basis is strong, and our economic future is, in my view, the best it has been since independence.
“We will secure that future by high quality foreign investment – of the kind Japan has consistently provided over the last 40 years – and a growing and confident participation in these investments.
“Our trading links have always been strong – and we are keen to strengthen and diversify them even further.
“We have the people, and the land, to help meet your food needs as well as your energy and mineral needs.
“We will continue to welcome imports from your country which have contributed to our transport needs for generations.”