Fijian entrepreneurs and businesses are urged to take advantage of Papua New Guinea’s population, wealth of resources and significant untapped opportunities available to enter that market.
Vodafone Regional CEO Pradeep Lal made the call to a delegation of Fijian businesses who are part of the Fiji-PNG Business Mission 2025 that started on Monday in Port Moresby.
Mr Lal noted the importance of thoroughly learning the market, understanding the political, social and economic climate, and evaluating the cost of entry.
He also noted the necessity of exploring the infrastructure, risks and challenges associated with entering new markets as part of due diligence.
He said with a population of approximately 12.5 million, PNG offered significant opportunities for investors, and urged Fijian entrepreneurs to look at every market as an opportunity, regardless of size.
“No opportunity is too big or too small,” Mr Lal told the Fiji delegation, led by DPM and Minister for Trade Manoa Kamikamica.
Mr Lal pointed to PNG’s wealth of resources, including more than 50 years of mining opportunities, and a growing pipeline of projects in sectors such as mining, agriculture, dairy, kava, forestry, and fishery.
PNG’s key exports include mineral fuels and oil, natural and cultured pearls, mineral products, timber and wood, animal or vegetable fats and oils, nickel products, and fish, as well as agricultural products like coffee, tea, and spices.
“These sectors represent areas where Fijian businesses can explore and expand, tapping into PNG’s rich natural resources, but it’s important to collaborate with local business partners.”
Mr Lal encouraged the Fijian delegation to collaborate with PNG investors who may be interested in investing in Fiji.
“It’s important to form strategic partnerships and alliances. There are numerous lessons to be learned and shared between both countries that can contribute to the growth of our respective economies.
“Hospitality, medical centres, retirement and aged care facilities are areas where investment is needed.
“Fiji, with its skilled workforce, is well-positioned to meet these demands. Moreover, there are opportunities in the education sector, agriculture particularly turmeric, ginger, pineapple, and coconut water, and the dairy industry.
“Fiji’s strengths in these sectors could provide the foundation for a successful partnership with PNG.
“As the market continues to expand and develop, there will be growing demand for skilled labour and services, which Fiji is well-equipped to provide.”
The Fiji-PNG Business Mission 2025 is facilitated by Investment Fiji and the Ministry of Trade, Co-operatives, Micro, Small and Medium Enterprises and Communications, in partnership with the
Investment Promotion Agency PNG, the Fiji High Commission in PNG, and supported by Vodafone PNG and BSP Financial Group Limited.
