Prime Minister James Marape has reaffirmed Papua New Guinea’s economic growth trajectory and called for continued investor confidence during the official opening of the Eliseo Premium Shopping Complex in Hohola.

Addressing a crowd of government officials, business leaders, and stakeholders, Marape described the new development as a reflection of the country’s economic progress over the past decades.

He noted that when Eliseo began operations in 1995, the national economy was valued at less than K10 billion, growing to K17 billion in 2002 and now projected to reach approximately K150 billion by the end of 2026.

“Fifty years on, Eliseo reflects the growth of our country.”

The Prime Minister emphasized that the non-mining sector now dominates the economy, accounting for an estimated K107 billion of the projected K148 billion total this year.

He pointed out industries such as retail, construction, agriculture, and hospitality as key drivers of growth, challenging the long-held perception that mining and petroleum remain the country’s primary economic pillars.

“The non-mining sector is now the biggest sector of our economy.”

Marape also pointed to the country’s resilience through challenges such as the COVID-19 pandemic, noting that despite economic uncertainties, Papua New Guinea has nearly doubled its budget and overall economic size in recent years.

“This country will not go down, we are moving up—day by day, month by month, year by year.”

Commending Eliseo’s leadership, the Prime Minister recalled how the company expanded during the height of the pandemic, opening a store in Gerehu in 2020 when many businesses were scaling back.

He described this as a demonstration of confidence in the country’s future and praised the company for now employing more than 2,000 people in the city, including around 400 at the new Hohola complex. Marape further assured investors of government support, particularly in improving infrastructure, utilities, and law and order, while urging businesses to continue investing in the country.

“If you have faith in this country, we will support you to grow.”

He concluded by urging unity and optimism, saying the country’s growth reflects the enduring vision of Michael Somare and the determination of its people.

“Eliseo represents the ‘can do’ spirit of our nation.”

“Let us continue to invest, grow, and build Papua New Guinea together.”

The Eliseo Premium Shopping Complex is now considered one of the most modern retail developments in Port Moresby, indicating a new chapter in the city’s commercial growth.