PNG PM Urges Australian Firms to Invest More, Sets Sights on K200 Billion Economy

​Papua New Guinea’s Prime Minister James Marape has urged the Australian business community to increase its investments in the country, presenting an ambitious 20-project growth plan expected to reshape PNG’s economy.

Marape made the call while addressing the 40th Australia PNG Business Forum and Trade Expo in Port Moresby on Monday, saying his administration remained committed to good governance, regional cooperation, and sustainable growth.

Celebrating 40 years of bilateral economic partnership, the forum was held at The Stanley Hotel and Suites and coincided with PNG’s 50th independence anniversary.

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The Prime Minister said the government was working to attract over US$55 billion (K218.7 billion) in foreign direct investment over the next decade and a half, primarily through large-scale energy and mining projects.

Seventeen of the proposed 20 ventures, he said, were already moving through regulatory approvals. Among the participating firms are ExxonMobil, Total, Barrick Gold, Newmont, and Harmony Gold.

Marape reaffirmed PNG’s strong ties with Australia, describing the forum as a platform built on shared values, trust, and mutual prosperity. “We want to strengthen ourselves so we can contribute to regional stability with Australia,” he told the gathering.

He concluded by setting a bold economic target: “Our ambition is to become a K200 billion economy in the short term and reach US$200 billion by 2045.”

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