Marape reassures investors ahead of PNG Investment week in Australia

Prime Minister James Marape says Papua New Guinea remains one of the safest and most predictable investment destinations in the Indo-Pacific as he departs for major engagements with Australian mining, petroleum, and business leaders.

Mr Marape said PNG has honoured every resource agreement it has signed over the past 50 years, citing major projects such as Porgera, PNG LNG, Lihir and Ramu Nickel. He said this record reflects the strength of PNG’s legal system and its democratic institutions.

The Prime Minister will join the Australian Prime Minister this week to open the PNG Investment Week Leaders’ Summit in Sydney, which is expected to be the largest investor event ever held for PNG.

Before the summit, Mr Marape will travel to Queensland for a series of meetings with the business community. He will then fly to Brisbane on Wednesday to sign a revised Memorandum of Understanding between Papua New Guinea and the State of Queensland.

He said the new MoU will strengthen cooperation between public services, boost police and judicial collaboration, improve joint border surveillance and support more business partnerships. Mr Marape described Queensland as PNG’s closest economic and cultural neighbour.

At the Leaders’ Summit, the Prime Minister will highlight the long-term benefits delivered by the PNG LNG Project and outline the next wave of major resource developments, including Papua LNG, Wafi-Golpu, P’nyang, Pasca A and the Porgera restart. More than 20 other mining, gas and petroleum prospects are also under consideration.

Mr Marape said these projects, if properly sequenced, could bring in between US$55 billion and US$80 billion in foreign direct investment and support years of jobs, construction activity and increased revenue for landowners and provinces.

He also said the government is working on a new hybrid fiscal regime to provide clarity for investors while ensuring fair returns for the country. The reforms are expected to be finalised in 2025.

The Prime Minister told investors that PNG remains committed to responsible resource development, a rules-based investment environment and a strong partnership approach.

He said PNG’s proximity to Asia, growing green-energy potential and large untapped resources offer major opportunities for long-term investment.