Posted By Staff Reporter
Papua New Guinea (PNG) is rich in natural resources with extensive reserves of natural gas and oil. Mineral deposits of gold, copper and cobalt are equally in abundance. The surrounding waters are rich in marine life and its share of resources. Equally, forest products are major exports and vast timber resource remains to be sustainably tapped. Agricultural commodities have been the country’s backbone to economic development. PNG’s culture and traditions are diverse and richly colorful, contributing to its tourism potential. All these are a perfect recipe for huge and varied economic developments. However, despite the availability of these raw materials and favourable reporting (Pacific Economic Bulletin, Vol.25 No.1, 2010) for economic development, the country is still far from rich, in technically skilled human capital. Law and order, unemployment, urban drift, corruption, HIV/AIDS, an unskilled workforce, the economy, unequal distribution of wealth, and so on, are the overarching concerns. The Government has outlined its main policies for economic recovery and development including human resource development, and has set new targets to reach under its Vision 2050 and the National Development Strategy, 2030.
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