This process led Papua New Guinea into taking an active role in reviewing and reforming its trade policies and systems to meet international best practices, a process that is still in train. However, while PNG seeks to build an enabling environment for investment and trade, the country struggles with poor road infrastructure, limited internet service, high cost of logistical services, security challenges, and the lack of strong and efficient government institutional capacity.
PNG has a strong appetite to drive its economic growth through significant foreign investment. Enormous investment opportunities can be found in the infrastructure development sector; meeting the needs of a growing urban base of middle class consumers; the abundant natural resources in mining, oil and gas, forestry, and fisheries; and through potential capital investment partnerships.
The PNG Government remains focused on fostering an enabling environment for businesses to grow and attract foreign direct investment.
The mining, oil, and gas sectors attract most of the FDI. There is a target to increase stock to USD The government also aims to increase FDI in the renewable sector.
The PNG National Trade Policy NTP policy goal is to maximize trade and investment by increasing exports, reducing imports of substitute goods, and increasing FDI that generates wealth and contribute to growing the economy.
