The Papua New Guinea Advantage 2012, PNG’s inaugural international investment summit held on 10 and 11 September, was an unqualified success according to its organisers.

Numbers at the event exceeded expectations, with over 300 delegates attending over two days to hear 35 expert speakers—including PNG’s Public Enterprises Minister Ben Micah, high profile business journalist Michael Pascoe and ANZ’s Chief Economist for Asia, Paul Gruenwald—outline business and investment opportunities in the Pacific’s ‘tiger’ economy.

‘We were delighted to welcome dozens of overseas companies to the Summit, including several who were making their first visit to PNG,’ said David Conn, Executive Director of co-host the Port Moresby Chamber of Commerce and Industry (POMCCI). ‘PNG’s business community and state enterprises also turned out in numbers to support the event.’

Conference highlights included:

• A major policy announcement from new Public Enterprises Minister Ben Micah, who told delegates ‘we are going to shake things up’ in PNG’s state enterprises and invite far greater private sector involvement. ‘The timing of the conference could not be more appropriate for the new O’Neill Government,’ he said.
• Michael Pascoe’s bullish presentation on why the China boom will continue
• ANZ Chief Economist for Asia, Paul Gruenwald presented the latest data on PNG’s and the region’s growth, pointing out that the Pacific region was now a net exporter to China, thanks to Papua New Guinea’s exports.
• Special forums gave delegates insights into market conditions in energy; ports and shipping; roads and aviation; and telecommunications and technology.
• A rousing presentation from the new CEO of Pacific Games 2015, Peter Stewart, outlined the products and services the PNG-based games needs from the private sector
• A ‘PNG Made’ expo of local produce and services

The Papua New Guinea Advantage Conference was a joint initiative between POMCCI and trade and investment specialists, Business Advantage International.

‘By holding an international investment summit on PNG in PNG, we have sent a clear message to overseas investors that PNG is genuinely open for business,’ said Andrew Wilkins of co-host Business Advantage International. ‘Having demonstrated that PNG can successfully host such an event, we’re looking forward to making the next Summit even bigger and better, and attracting more international delegates from markets such as Asia, the US and Europe.’