Pacific Money

Papua New Guinea: Riding the Resource Boom

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Pacific Money

Papua New Guinea: Riding the Resource Boom

While the economic future of PNG looks bright, political stability is essential with a careful long term view.

Papua New Guinea could become the next resources boom state, with a new study revealing the potential for export revenues to swell six-fold by 2030 to U.S.$38 billion a year.

According to a report by Port Jackson Partners commissioned by ANZ Bank, the island nation of 7 million people could benefit from U.S. $130 billion worth of resource-related capital investment through to the end of the next decade, creating more than 100,000 new jobs in mining, energy and support services.

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