First, PNG's existing laws give away too much to international investors while the State who claims to be "the Crowne owns all the natural resources" sits on the side as a poor spectator while foreign investors exploit at will.
Secondly, the State almost invariably lacks the ability to negotiate adroitly and effectively in order to gain the maximum economic benefits even under the existing unfavourable laws.
Because the State always negotiates very poorly, PNG's total gains from resource extraction projects are even further diluted than what is expected under an already very unfavourable regulatory and legislative enviroment.
Third, PNG is foolishly pushing for too many new resource extractive projects when it does not know how to prudently manage the revenues from existing projects and convert them into tangible economic development and wealth creation for every citizen of PNG.
It is a known fact that PNG is a very corrupt country when dealing with public monies. Political leaders and elites are willingly stealing hundreds of millions and denying our people of their right to benefit from the nation's wealth.
In fact I do not see the rationale for the State promoting and talking about too many new world-class LNG and mining projects when the bulk of our citizens of this counrry don't benefit from existing projects.
Without genuinely and decisively fighting white-collar corruption and crime, the State is only cheating its very own citizens by talking about too many new billion dollar world-class LNG and mining projects. It's a fallacy!
If the above three issues were decisively addressed, PNG would have already made significant in-roads into tangible and impact economic developments based on the existing projects alone.
I am totally against the promoting of new resource extraction projects such as the Elk/Antelope LNG Project, Freida Gold Mine and the Natilius sub-sea mining project because all these projects would not benefit our small people.
Not too long, PNG' s rich natural resources will be exploited and depleted to nothing under the current destructive model of development.
This country needs thinking leaders with real vision whose hearts are genuinely linked to the small people. PNG's political leadership must now pause and think to address this issue boldly because our country's future is at stake. I can see it very clearly.