Diversification opportunities on offer

The 2018 APEC year offers opportunities for diversification of the PNG economy, forge trade ties and impart best business practices.

Oxford Business Group (OBG) Asia managing editor, Patrick Cooke, said this during the OBG roundtable discussion on PNG and diversification opportunities.

During the roundtable held in Port Moresby yesterday, Cooke agreed that the APEC Summit provided a great opportunity for PNG to come under the spotlight.

He said this not only provides opportunities for economic diversification but increased business and trade through networking.

Treasury Secretary Dairi Vele, who presented on behalf of Prime Minister Peter O’Neill, said while the Summit will present an injection of over K200 million with over 15,000 delegates in the country, it will create opportunities for key sectors in the country.

The roundtable discussion featured key industry figures such as Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk; PwC Managing Partner, Jonathan Seeto; Investment Promotion Authority Acting Managing Director, Clarence Hoot; Nasfund CEO, Ian Tarutia; and chairman and Director of Innovative Agro Industries, Ilan Weiss.

They shared insights into the sectors they operated in and some of the challenges faced, while Secretary Vele spoke on some of the government policy initiatives to address the challenges.

Meanwhile, Cooke revealed that the latest edition of the OBG’s The Report: Papua New Guinea 2018 will be ready by mid this year.

(The roundtable held yesterday)

Cedric Patjole