Last week the PLN Team attended the Papua New Guinea International Business Summit, 2016. Hailing from the Sydney, Brisbane and Port Moresby offices, it was a fantastic opportunity for the PLN team to hear from government representatives as well as business leaders on the economic outlook for Papua New Guinea (PNG), upcoming major events in PNG as well as business trends.
The economic outlook for PNG in the short term looks to be tough going but the prospects for the medium to long term appear to be bright.
After overcoming my initial excitement hearing that PNG will be hosting the FIFA U/20 women’s world cup in November, it was also great to hear about some of the key infrastructure projects on the horizon in PNG – a key focus for many of the presentations was on the importance of Public Private Partnerships (PPPs). PPPs present a model for governments to tap into the technical, operational and financial resources of the private sector and leverage them in an effective way which seeks to manage the spread of risk and to also achieve development in areas like (for example) energy, ports development and civil infrastructure works.
With the Public Private Partnership Act 2014 (the Act) having been approved by parliament, and the PPP centre having been being established under the Act, what now remains is for the Act to be gazetted. So stay tuned…