The final day of the PNG Resources & Energy Investment Conference themed as “PNG companies getting ready for the boom”.
As stated by the PNG CORE President Anthony Smaré, “Witnessing the missed opportunities by PNG companies with the first LNG project in the early 2010s, it is my fear that PNG Companies, and companies operating in or trading with PNG, have not adequately readied themselves for the opportunities that these projects will provide.”
Mr Smaré said the challenging economic conditions over the past few years has introduced a lingering sense of pessimism and doubt with many PNG companies.
“I worry that they are letting that pessimism hold them back for readying themselves properly to maximize their opportunities to benefit or participate in the boom.
Due to my position and the fact that I speak to all the players in the new projects regularly –I am convinced that these projects will be delivered, with the only conjecture regarding the precise timing,” he said.
“It is important that prudently, PNG companies act with a greater sense of urgency to ready themselves to participate in the opportunities that the new resource and energy projects will bring.”
Day 3 program features an extensive agenda that features various companies talking about how they are readying themselves to participate in the boom. It will be informative, but hopefully it will catalyse thinking, and action by attendees on whether or not they are doing enough to maximise their opportunities to benefit from the coming project boom.