Prime Minister James Marape last night projected to the business community a dramatic expansion of the national economy over the next decade driven by up to US$40 billion (K171.2 billion) worth of major resource projects and new investments, including the establishment of national PNG Chiefs NRL team.
Speaking at a gala dinner hosted by the Social Democratic Party at the Airways Hotel on last night, PM Marape urged corporate leaders to plan confidently for long-term growth, saying the country was on track to become a K200 billion-plus economy within the next 10 years. Related News: (https://news.pngfacts.com/2026/02/png-pm-marape-maps-road-to-k200-billion.html)
Addressing business houses and party supporters in attendance, Mr. Marape said several “low-hanging” and mega resource projects-including major gold, copper and gas developments-were expected to come on stream between 2029 and 2033, generating unprecedented economic activity.
He cited Pasca Gas, Wafi-Golpu and Frieda Mine amongst others.
The country will host the APEC meeting again in 2033, he said.
“When you sequence these projects, you will see heightened activity through 2029, 2030 and 2031,” PM Marape told the fundraiser.
“Collectively, they represent between US$35 billion and US$40 billion, even up to US$50 billion, in total investment.”
He said the Government was actively engaging international partners and investors, noting that discussions were currently underway with global energy executives in Europe.
The government will restore a debt-free National Budget next year to a balanced one, said PM Marape.
PM Marape said these developments, combined with infrastructure growth, improved fiscal discipline and new opportunities in sport and services, would push the economy beyond the K200 billion mark by the early 2030s.
He noted that when he took office in 2019, the economy stood at around K79 billion and has since grown past K120 billion.
Mr. Marape also reassured the private sector that political stability and democratic processes would remain intact as the country heads toward the 2027 National General Election.
He said the election would be free and fair, with both the National Government and the PNG Electoral Commission committed to upholding the integrity of the process.
“Every political party has the right to contest, and the people must decide who they want to lead them,” he said.
“Do not vote along personalities or plates of good vote for policies and party platforms.”
On post-election arrangements, PM Marape made it clear that cooperation between parties would follow constitutional processes.
He said if the Governor-General invited the Social Democratic Party to form the next government after 2027, Pangu Pati would be prepared to work in alliance with SDP-and vice versa.
“If the invitation falls on SDP, you can count on Pangu to transfer numbers to secure government,” Mr. Marape said.
“Likewise, if Pangu receives the mandate, we will work with SDP in the national interest.” Related news: (https://www.thepngsun.com/pm-marape-welcomes-westpac-banks-strong-economic-report-png-on-path-to-sustained-growth/)
Reflecting on Papua New Guinea’s democratic history since independence, Mr. Marape said the country had proven resilient through regular elections and peaceful transfers of power.
He urged citizens and business leaders alike to remain engaged in nation-building.
He called on the corporate sector to have confidence in PNG’s future, saying the next decade would define the country’s economic trajectory.
“Plan your companies’ futures with confidence,” he told guests.
“Together, we can lift this country to greater prosperity for all citizens.”