​Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

​Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

Papua New Guinea's Central Province is actively inviting foreign investors and businesses to collaborate in advancing its economic development. After nearly five decades of being situated on the border of the National Capital District, the province is now leveraging its strategic location and vast potential to attract partnerships.

Regional Member Rufina Peter, speaking at the Central Chamber of Commerce and Industry's (CCCI) inaugural meet-and-greet event on Thursday, emphasized the need for Central Province to reclaim control of its economic destiny. She stated that the past five decades have provided valuable lessons and experiences to rebuild, establish new foundations, and eliminate ineffective initiatives.

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According to Ms. Peter, the establishment of the CCCI and the upcoming Central Province Investment Conference mark a significant shift toward laying a solid foundation for economic growth in the province. She highlighted the vast opportunities in agriculture, tourism, minerals, and other sectors that are yet to be fully harnessed for revenue generation.

To support these initiatives, Central Province has signed agreements with key agricultural agencies such as the Coffee Industry Corporation, Cocoa Board of PNG, and National Fisheries Authority. Additionally, discussions are ongoing with Oil Palm Minister Francis Maneke and other agricultural bodies to further expand the province's economic potential.

Ms. Peter also noted that the Central Provincial Government has established critical institutions, including the Land Board, Physical Planning Board, and Building Board, to ensure readiness for incoming investments. Furthermore, the Central Province Business and Investment Limited (CPBIL) has been set up as the business arm to facilitate investment activities and support economic progress.

With these efforts, Papua New Guinea's Central Province aims to capitalize on its resources and partnerships to drive sustainable growth and establish a robust economic foundation for the next 50 years.
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