Peddling PNG
p. 10 · Read in the full issue
investment
By Ian Williams
PAPUA New Guinea’s regular road show got a good reception in September as it moved from Hous ton to New York and Toronto before returning via San Francisco.
The seminar for investors consisted of
a two dozen strong team, half govern ment and half private industry.
Greg Anderson, of PNG’s Chamber of Mines and Petroleum, described it as aimed at potential financial backers of major projects, and designed to allay investor worries about the Bougainville situation and Port Moresby crime.
“PNG can show that it’s learnt a lesson from Bougainville, and the South Pacific Games were just held in Port Moresby without any serious incidents,” says Mike Kennedy from the Department of Min erals and Energy. “The crime is caused
by rapid social change and unemploy ment, and time, education, and the investment we’re attracting should help solve it.”
Greg Anderson is pushing the attrac tions of political stability, and a reason able fiscal structure which taxes profits rather than production. The low royalties are an incentive to marginal production, especially in the face of fluctuating commodity prices.
The seminars brought 60 to 70 potential investors along and provide contacts to follow up on. □