PA DIRECTOR ENCOURAGES EU INVESTORS TO EXPLORE PNG OPPORTUNITIES
By Tasminnie ISIMELI
Investment Promotion Authority (IPA) Director Peter Daroa has encouraged more European businesses and investors to explore opportunities in Papua New Guinea, highlighting the country’s growing partnership with the European Union over the past five years.
Speaking during a press conference ahead of the 5th European Union–Papua New Guinea Business Forum, Mr. Daroa reflected on the progress made since the inaugural PNG–EU Business Conference held in Port Moresby in 2019.
“It’s a pleasure to be here again after five years,” Mr. Daroa said.
He said the partnership between the Investment Promotion Authority and the European Union has been productive and has helped strengthen trade and investment engagement between Papua New Guinea and Europe.
Mr. Daroa recalled the first investment week and the early business forums that brought together businesses, investors and government agencies from Papua New Guinea, Europe and the Pacific region.
He said over the years there has been increasing interest from European companies looking to invest and operate in Papua New Guinea.
“We have witnessed the steady and growing interest of EU businesses and investors making their presence in Papua New Guinea,” he said.
Mr. Daroa noted that major international companies such as Nokia, Airbus and Total Energies are now showing strong interest in Papua New Guinea, particularly in sectors such as telecommunications, aviation and energy.
He also highlighted the growing relationship between Papua New Guinea and the European Union in the agriculture sector, especially cocoa production.
Mr. Daroa said Paradise Foods has been one of the recipients of European Union trade assistance aimed at supporting agricultural development and export opportunities.
He added that the Pacific Trade and Investment Office in Geneva recently visited Papua New Guinea and attended the Cocoa Festival in East Sepik Province, where there was significant interest in PNG cocoa products and opportunities to expand exports into European markets.
Mr. Daroa encouraged investors to look beyond the fisheries sector and explore opportunities in tourism, agriculture, and rural development.
He said Papua New Guinea has vast untapped opportunities across its provinces and districts, particularly outside major urban centres such as Port Moresby, Lae and Mt Hagen.
“As you are doing business, also come and visit our people,” he said.
“Everything you hear, the negative stories you hear about Papua New Guinea, it will be important for you to make your own assessment of the people, the culture and the environment.”
Mr. Daroa described Papua New Guinea as a culturally diverse and resilient country, with the majority of the population living in rural communities and relying on agriculture.
He revealed that IPA teams have been carrying out profiling exercises in different regions of the country to identify and package investment opportunities for potential investors.
According to Mr Daroa, the IPA recently completed similar work in the Momase region after previously conducting exercises in the Islands region last year.
He said the IPA remains committed to supporting investors and strengthening partnerships with the European Union as business engagement between the two sides continues to grow.
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