STORY: PNG seeks more Asian investment via conference in Hong Kong
DATELINE: Oct. 17, 2023
LENGTH: 00:01:12
LOCATION: HONG KONG, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of the Papua New Guinea (PNG)-Asia Investment Conference
2. SOUNDBITE 1 (English): RICHARD MARU, PNG's Minister for International Trade and Investment
3. SOUNDBITE 2 (English): ANTHONY SMARE, President of PNG Chamber of Mines and Petroleum

STORYLINE:

The Papua New Guinea (PNG)-Asia Investment Conference began on Monday in Hong Kong as the Pacific island country seeks more investments from Asian countries, especially China.

In an address at the opening of the two-day conference, PNG Prime Minister James Marape said PNG is a country that features the rule of law, honors agreements with investors and is abundant in opportunities for investment.

He is optimistic about Asian economies' growth potential, which fuels opportunities in commerce, trade and people-to-people exchanges.

The conference features sessions introducing investment opportunities in PNG in the mining and petroleum sectors as well as non-extractive industries.

Richard Maru, PNG's minister for international trade and investment, told Xinhua the conference is the start of marketing of investment opportunities for Asian investors, especially China, to invest in PNG.

SOUNDBITE 1 (English): RICHARD MARU, PNG's Minister for International Trade and Investment
"China is now our most important trading partner. Two-way trade between Papua New Guinea and China has reached 15 billion kina per year, and we see the potential for that to grow even further."

Anthony Smare, president of PNG Chamber of Mines and Petroleum, and the organizer of the conference, said Hong Kong is an ideal site for the conference to be held to seek investments from all over Asia.

SOUNDBITE 2 (English): ANTHONY SMARE, President of PNG Chamber of Mines and Petroleum
"The growth of the trade between China and Papua New Guinea is on a dramatic increase because of the strong relationships between the Chinese government and the Papua New Guinean government and the strong friendship between the Chinese people and the Papua New Guinean people."

During the conference, Chinese companies have shown strong interest in investing in the country, he said.

Xinhua News Agency correspondents reporting from Hong Kong, China.
(XHTV)