PM O’Neill to Regional Business Leaders – Priority is Maintaining Stable Growth for Papua New Guinea20/11/2015 PNG Prime Minister Peter O'Neill has spoken about development and positive change taking place in Papua New Guinea to several hundred regional CEOs and leading business people at he APEC CEO Summit in Manila.
Being only the second time for a Papua New Guinea Prime Minister has spoken at the annual summit after PM O'Neill made the first appearance last year, he provided insight to the opportunities for business in the country. The Prime Minister further shared information on the Government's approach to managing international pressures such as economic slowdown in partner economies and reduced commodity prices. "Our are maintaining a stable growth level for our economy, one that is predictable for business and will continue to provide opportunities for our citizens," PM O'Neill said. "We are recalibrating the way we grow our economy into the future and implementing policies that will maintain stable growth level. "Stability in politics, with a secure Government and clarity in our policies, is helping Papua New Guinea move forward into the next decade." The Prime Minister further outlined the importance of inclusion in the future growth of Papua New Guinea in the Asia-Pacific region. "As a developing country, the approach of our government is all about getting the balance right so that citizens can participate meaningfully in the global economy. "With our economy expanding and new opportunities being created for our people, we must be inclusive. "With more and more of our citizens moving from lower income to higher incomes we are seeing a lot of change. "We must get the balance right so that all people in our country benefit from growth." He said the government is investing heavily in education so that the country has the right skill base which businesses will require to grow their activities and involve the people. "Education is very important for economic growth, and we are educating more of our children now than ever before so that they have skills that are needed in the economy and businesses of the future. "We are also investing heavily in infrastructure such as roads, sea ports and airports, which the private sector require to grow. "In doing all this our Government is working closely with the business community and establishing policies that will make it much easier to do business in our country."
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