The US Chamber of Commerce (USCC), the world’s largest business federation and biggest lobby group in the United States, will work at helping to find investors for Papua New Guinea, Prime Minister Hon. James Marape was told.
USCC Executive Director – South East Asia, John Goyer said this when he met with Prime Minister Marape on the sidelines of APEC Leaders Meeting in San Francisco.
Prime Minister Marape said he was thankful for these doors of opportunities opening through the networking of USCC, adding that he looked forward to working with the Chamber and its global affiliates to bring investors into PNG.
The discussions were had during PM Marape’s meeting with USCC on the sidelines of the APEC Leaders’ summit.
The Prime Minister used the opportunity to market PNG as an ideal investment destination in Climate consciousness and forest conservation, food security, and the advantage with PNG’s location in relation to Asia.
He pointed out two of America’s biggest energy companies in PNG – ExxonMobil and the recently-arrived Newmont – which he said were testament to the country’s ability to welcome and host investors, especially big leading ones.
He said, “ExxonMobil has been in PNG for 100 years now; it has a big presence in our country, while Newmont is America’s Number One mining company. So from them, our energy produces find spot markets in Asia much quicker than from Africa and the Middle East.
“But below this, we also want manufacturers here and will welcome companies who want to take up station, produce to send back to USA, or going forward, to the Asian markets. We want a free flow of investors taking up residence in our country.”
Prime Minister Marape also pointed out existing carbon-offsetting opportunities in PNG and invited environment-conscious investors looking at forests conservation as a Climate Change mitigation strategy.
Mr Goyer, in turn, assured the Prime Minister that USCC would assist by connecting investors to PNG and its government.
He said, “We are keen to have those kinds of conversations and I think the Chamber, by virtue of what we do, is well-placed to convene these sorts of gatherings for you and create those opportunities for PNG.
“We work very well with American Chambers (AmCham) around the world – there are 125 or 130. We haven’t had much interaction with PNG except with the Coral Sea AmCham, so I am keen to see what we can do to increase that cooperation to promote investments in PNG.
“We are keen to work with you to find ways to do what you laid out in bringing in more investments.
“ExxonMobil is a longstanding member of USCC, and I think companies like ExxonMobil, Newmont and others – because they are already in your country – are your best salespeople in terms of promoting investments and opportunities in Papua New Guinea.
“We will be happy to work with you to facilitate that, organize forums, where they too can help to make the sale, so to speak, on PNG,” he said.
Founded in 1912, the US Chamber of Commerce is reported as the world’s largest business federation representing nearly 3 million companies, 2800 state and local chambers, 830 business associations and over 100 American chambers of Commerce abroad.
It advocates for policies and an enabling environment for the growth of businesses and the strengthening of economies where it is based.
The American Chamber has a young branch in PNG called AmCham Coral Sea founded in 2022 that covers PNG, Solomon Islands and Vanuatu. It’s Executive Director Mr Materua Tamarua was instrumental in linking the USCC to the prime ministerial team during the APEC Leaders Week, including meetings with the American private sector.
