5000 Australian Firms in PNG: Turnbull

5000 Australian firms in PNG: Turnbull

Australian Prime Minister Malcolm Turnbull says almost 5000 Australian businesses and companies are operating in Papua New Guinea and two-way trade between the two countries is valued at A$5.8 billion (K13.7 billion).

Speaking at a business breakfast in Pt Moresby recently Mr Turnbull said that Australia’s investment in Papua New Guinea – A$18 billion (K42.5 billion) – is more than Australia’s total investment in Indonesia.

“It involves so many industries and sectors particularly gold mining, oil and gas.’ “It contributes to PNG’s economic growth and employment, directly benefits the quality of life here.

“A great example of this is Origin Energy’s programme to provide solar panels to homes.

“Our investments in infrastructure, health, education, promoting and empowering women and girls, law and justice, governance, throughout our development cooperation and partnerships in private sector, all by supporting the PNG government to build strong foundations for economic growth.

Mr Turnbull also mentioned the Australian consular general which was opened recently in PNG’s commercial capital, Lae, reflecting confidence and the opportunities now and into the future.”…

The National/PNG today http://news.pngfacts.com/2017/04/5000-australian-firms-in-png-turnbull.html