OPINION
PNG Perspectives Business leaders provide their personal takes on Papua New Guinea’s outlook.
PICTURE: NAMBAWAN SUPER
PICTURE: PUMA ENERGY
PICTURE: WESTPAC PNG
PNG has a good opportunity to provide food into Asian markets: Singapore, for example. You’re seeing, potentially, some big developments in the Sepik Plains with large production agriculture. We have a lot of small-scale farms but, to go out into the world, you typically need to get bigger lots and get the farm, the cold chain, the transportation, everything lined up to ensure reliable supply. There are some opportunities there that are worthwhile looking at.
This year, we’ve got a very aggressive capex plan in place. With the lockdowns, we are still positive and optimistic that we can be able to get through those investments and the upgrades to our facilities. Our business model will be changing this year. We need our Future Energies business to take it to the level, where we become a one-stop shop energy solutions provider in-country. We’re moving from oil dependency to having diesel as a secondary or backup fuel source of power generation. We’re turning all our terminal facilities to solar-generated power. It’s important that we embrace the technological changes that are evolving around the world, and that we implement them within country.
We obviously see the resource sector as the main contributor to growth aspiration. The fiscal agreement on Papua LNG is a really good sign for the economy and for foreign investment. The contagion effect of a transaction like this could have a huge impact in the wider economy. With that fiscal agreement now signed, we would be more confident of seeing some growth in 2022.
Paul Sayer
Chief Executive Officer, Nambawan Super
Hulala Tokome
PNG Country Manager and Director, Puma Energy
12 BUSINESS ADVANTAGE PAPUA NEW GUINEA
Brett Hooker
Managing Director, Westpac PNG
