On 16 October 2013, Radio Australia's Pacific Beat discussed the results of a report commissioned by ANZ which concluded that Papua New Guinea's resources sector is set for significant growth over the next twenty years.
This is a great interview highlighting the enormous potential for PNG to tap into Asia's growing demand for natural resources. I agree that the Asian century is a perfect match for PNG. The ability to obtain natural resources and secure national food security is paramount to the success or failure of the Asian century. PNG's geographical position, natural resources, and stable government offer clear advantages over other countries.
It's true that infrastructure such as roads, power, telecommunications, and sea ports in PNG needs to be better developed to encourage investment. Increasing private sector involvement to raise capital investment could be the answer if the perceived risks of investing in PNG can be reduced. Although lowering infrastructure costs was mentioned as a perceived risk, I suggest that because most of the land in PNG is customary land the major perceived risk is dealing with local landowners. For any project to be successful in PNG, the customary landowners need to be respected, paid fairly and be provided with business and training opportunities.
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