Prime Minister James Marape has declared that Papua New Guinea is open for business and ready for a new era of deeper trade, investment, and strategic partnership with China, telling leading Chinese investors that PNG offers security, opportunity, and long-term growth.
Speaking yesterday at the PNG-China Roundtable in Guangzhou, Guangdong Province, Prime Minister Marape praised the long-standing friendship between Papua New Guinea and China, while inviting leading Chinese businesses to expand investment into key sectors of the PNG economy.
Addressing government officials, business leaders, and investors, Prime Minister Marape said Guangdong Province symbolised economic excellence and represented the very best of China’s commercial strength.
“When I met President Xi Jinping three years ago, he told me he would give Papua New Guinea Guangdong,” Prime Minister Marape said.
“I later came to understand that he was giving us the very best — a province renowned for innovation, enterprise, and economic leadership.”
Prime Minister Marape said Papua New Guinea highly valued its enduring relationship with China, noting that Chinese communities had contributed to PNG’s national development since independence in 1975.
He paid tribute to the many Papua New Guineans of Chinese heritage who have played important roles in the country’s history, including the late former Prime Minister Sir Julius Chan.
“As our nation journeys through its 50th anniversary year, we thank all Chinese investors and partners who have helped build modern Papua New Guinea over the last five decades,” he said.
Prime Minister Marape told the roundtable that Papua New Guinea welcomes investment across all levels of the economy — from major resource developments to agriculture, fisheries, forestry, tourism, real estate, manufacturing, wholesale, and retail.
“Papua New Guinea is open for business as we have been in the past, and as we will remain into the future,” he said.
He said the Government was implementing major structural reforms to improve the ease of doing business, including reforms at the Investment Promotion Authority.
These reforms include:
* One-stop investor services
* Faster company registration and licensing
* Online business services available 24/7
* Greater regulatory certainty
* Improved transparency and streamlined approvals
“We want investors to have confidence, clarity, and certainty when choosing Papua New Guinea,” Prime Minister Marape said.
Prime Minister Marape said the Government had restored fiscal discipline and was moving steadily towards a balanced national budget.
He noted that following the global impacts of COVID-19, PNG had reduced its budget deficit from 8.9 per cent in 2020 to approximately 1.1 per cent this year, with plans to achieve balance next year.
“We are managing our economy responsibly so investors can operate in a healthy and stable environment,” he said.
He said despite global uncertainty, Papua New Guinea remained a predictable and secure destination for investment.
“Those already doing business in Papua New Guinea know that returns on investment are among the strongest available in comparable emerging economies,” Prime Minister Marape said.
Prime Minister Marape assured investors that Papua New Guinea’s democratic institutions, judiciary, and constitutional protections would safeguard legitimate investments.
“We are a country governed by the rule of law,” he said.
“Any lawful contract signed in Papua New Guinea will be protected by independent institutions and an independent court system.”
He pointed to long-running projects such as the Ramu Nickel Mine as examples of continuity and investment security across successive governments.
“Governments may change, but Papua New Guinea remains constant,” he said.
Prime Minister Marape also reaffirmed Papua New Guinea’s longstanding support for the One China Policy first adopted shortly after independence under founding Prime Minister Sir Michael Somare.
“As a student of Sir Michael Somare’s leadership, I state clearly that Papua New Guinea’s One China Policy remains firm and unchanged,” Prime Minister Marape said.
“We respect China’s sovereignty and territorial integrity, just as China respects ours.”
He thanked President Xi Jinping and the Chinese Government for their continued friendship and support, including the allocation of diplomatic land in Beijing for Papua New Guinea’s embassy.
Prime Minister Marape said Guangdong Province would serve as a bridge connecting Papua New Guinea to China, while PNG would serve as China’s gateway to the Pacific region.
“In Papua New Guinea, we believe a bridge is what helps people cross to opportunity,” he said.
“Guangdong is now our bridge into China, and Papua New Guinea will be China’s bridge into the Pacific.”
He encouraged investors to work through PNG’s embassy in Beijing, trade offices, and future consular representation in Guangzhou to fast-track genuine investment opportunities.
Prime Minister Marape announced strong incentives for investors willing to establish downstream processing and manufacturing industries in PNG using local resources.
He said investors involved in value-adding sectors such as timber processing, fisheries processing, mineral refining, and petroleum-based manufacturing could access tax holidays of up to 10 to 15 years.
“We do not simply want to export raw materials forever,” he said.
“We want to process our resources at home, create jobs, and build industries.”
He said PNG’s strategic trade access to APEC, ASEAN-linked markets, Pacific Island nations, and the European Union gave investors a strong export platform.
Concluding his address, Prime Minister Marape said the world needed more bridges, more cooperation, and more goodwill.
“In a divided world, we need more partnership, more understanding, and more leadership for peace and shared prosperity,” he said.
“May Guangdong remain a bridge for China into Papua New Guinea, and may Papua New Guinea remain a bridge for Guangdong and China.”