ANZ report outlines significant potential for PNG to capitalise on the Asian Century
- Potential export revenues could grow 400% to US$23 billion by 2030 with US$112 billion in new investment
- National development conversation needs focus on balanced growth and reform in resources, infrastructure and agriculture
ANZ today released a major new report on Papua New Guinea’s future highlighting the significant potential which exists for the nation to benefit from Asia’s growing demand for natural resources and agricultural commodities.
The ANZ insight report, Bold Thinking: Imagining PNG in the Asian Century was commissioned by ANZ and completed by Port Jackson Partners.
ANZ Chief Executive Officer Mike Smith said: “Asia’s industrialisation and urbanisation is creating a unique opportunity for Papua New Guinea in natural resources and agriculture.
“Although there are many challenges in realising this opportunity, continued action to put in place the right policy and institutional settings could see sustained national economic growth and significant improvements in the prosperity of PNG’s people.