PNG, the Pacific’s largest economy, has seen significant increase in foreign investment over the years. In particular, we have witnessed a growing interest for investment into PNG from Asia, as well as a similar level of interest from PNG businesses looking for export opportunities into Asia. In 2015, the number of foreign companies investing in PNG has reached 3,794, a dramatic increase from 303 in 2004. Almost 55% of these businesses are from Asia. For instance, China's direct investment in PNG has reached US$1.9bn as of 2016, with over 40 Chinese companies operating in the country.**
PwC expects the level of foreign investment from Asia into PNG to continue to grow, reflecting the increasing recognition of opportunities in PNG as well as the PNG Government’s desire to expand its trade with Asia.
PwC is well-positioned to assist our clients in PNG and in Asia that are seeking to forge relationships, whether for trade or investment. Our Asian Business Network is a dedicated team of bilingual and bicultural specialists within our firm with extensive knowledge and on-the-ground experience helping our clients realise their cross-border trade and investment ambitions. Our experts and professionals draw on the depth of our network to connect our clients from China, India, Japan, Korea, Malaysia, Philippines and other parts of Asia with our clients in PNG. We work in tandem with our Asian Business Network specialists from other parts of the PwC Network to deliver high quality and integrated consulting, deals, tax and assurance services tailored to the cross-border investment and business needs of our clients.
* - Investment Promotion Authority
** - China's investment in PNG at $US1.9B, Post Courier, 3 October 2017
Managing Partner, PwC Papua New Guinea
Tel: +675 321 1500 | 305 3100
Principal, PwC Papua New Guinea
Tel: +675 472 2644