Port Moresby is set to become the heart of Papua New Guinea’s next wave of development and modernisation, with an eye on the booming Asian market, as declared by Prime Minister Hon. James Marape on Friday, October 11, 2024. Speaking at the groundbreaking ceremony for the Paga Hill Special Economic Zone (SEZ) Satellite Casino, Prime Minister Marape emphasised the capital’s role in leading the country’s economic transformation. This ambitious project, which includes development of hotel hotel rooms, is backed by an international developer and is slated for completion within six months, marking another milestone in PNG’s progress.
Prime Minister Marape stressed that the casino is strictly only for overseas guests, tourists and high earning Papua New Guineans and is not open to all citizens.
Paga Hill Development Company (PHDC) Chairman, Mr. Peter Barge, underscored the project’s focus on attracting tourists and expatriates, assuring that stringent entry requirements will align the casino with similar establishments in Singapore.
“In modern PNG, you need facilities, you need entertainment, all manner of amenities for both citizens and visitors to enjoy living in our country,” Prime Minister Marape said.
“There can be no better place to start the next wave of our growth than in Port Moresby, which has been the hub of government and commerce over the last 100 years when we were first visited by government, missionaries, and traders.”
Reflecting on the city’s legacy, Marape highlighted Port Moresby’s deep historical connection with the Motu-Koita people, particularly the Hanuabada villagers, acknowledging the area as the birthplace of modern-day PNG.
He continued by sharing his aspirations for Papua New Guinea’s future, recounting his recent speech at the United Nations General Assembly in New York City, where he declared the nation’s commitment to becoming a producer of finished goods instead of simply exporting raw materials.
The Prime Minister proudly reported on the nation’s economic growth, noting an increase from K79 billion in 2019 to a projected K122 billion by the end of this year, with forecasts of K130 billion by next year and K150 billion by 2027. “I assure those who choose to invest in PNG that you are coming into a growing economy, not one that is stagnant,” he said, emphasising the quicker return on investment achievable in PNG compared to larger economies.
Prime Minister Marape further emphasised the government’s commitment to tackling law-and-order challenges, improving education, and enhancing healthcare as part of a comprehensive strategy for a modernised PNG. He expressed his optimism about attracting tourists from major regions, such as China, Australia, and Southeast Asia, who are projected to enjoy the offerings at the Paga Hill Precinct. Additionally, he urged investors to prioritise local employment, particularly for the Motu-Koita people.
“Our vision for Port Moresby includes transforming the area from Koki to Konebada into a modern center for business and commerce, and establishing the Waigani Precinct as the governmental heart of the city,” Prime Minister Marape said.
“These two hubs will become symbols of PNG’s ambition to rise and progress on the global stage, developed at the very earliest.”
Looking forward, Prime Minister Marape acknowledged the success of Vision City Mega Mall as a prime example of what Port Moresby can achieve, serving as an inspirational model for future developments.
“I offer my congratulations and commendations and look forward to every step forward. May PNG prosper in this development,” he said, concluding with a vision of unity and optimism for the nation’s future.
