+ Prime Minister Peter O’Neill is far more worried about the profits for foreign resource extractors than he is about the plight of rural people
+ Foreign resource companies don’t “invest in PNG” and hope to get rich as PNG gets richer, they invest in big holes in the ground and get rich by selling what they take out – understanding the difference is crucial to understanding why they get rich and we don’t
+ Our Prime Minister and his cronies are happy to do what the foreign neo-colonialists want because they are all in business with them, our politicians are all businessmen getting rich from our suffering…
PNG PM assures investors on country’s economy
Freddy Mou | Loop PNG | February 28, 2017
PAPUA New Guinea Prime Minister Peter O’Neill has assured investors at the inaugural Petroleum and Energy Summit that their investment in the country is safe and will bear more profits in the near future.
During the officially opening of the two-day Summit today, Mr O’Neill confidently said the country’s economy is doing well.
He said PNG had faced challenges in past years due to the drop in commodity prices.
However, he said the decrease in commodity prices did not change the main goals of the government to provide free education and health care to the people.
“With a very careful management of our economy, we did not lose grip of it and we never cut essential services to our people,” Mr O’Neill said.
He added that the government always maintained its policies since taking office in 2012.
“With the steady end on the economy, our country continues to weather the storm by continuing to maintain a positive GDP growth and a sound outlook for the next two years.”
Mr O’Neill told investors that the country’s economy is on the right track and not out in the dark, as claimed by critics.
More than 450 investors from major LNG buying countries are attending.
The summit will end with a visit to the PNG LNG plant site by the investors.