Thursday 13 December, 2018

APEC: Digicel chair Denis O'Brien praises business-friendly PNG

Digicel Group Chairman, Denis O'Brien

Digicel Group Chairman, Denis O'Brien

Digicel Group Chairman, Denis O’Brien has praised Papua New Guinea as a “very Foreign Direct Investment-friendly country”, and stressed that the opportunities there “for a whole array of businesses from all over the world are huge”.

Mr O’Brien was speaking ahead of the Asia-Pacific Economic Cooperation (APEC) summit on Saturday and Sunday – a high profile event which marks PNG’s international summit hosting debut.

PNG Prime Minister, Peter O’Neill has promised citizens that the summit will boost trade and investments that will benefit the nation

And praising the Prime Minister’s leadership, Mr O’Brien reiterated the potential.

He told Bloomberg: “This country has every conceivable resource. It’s got gold, nickel, cobalt, everything.

“And I think for Foreign Direct Investors, it’s a very safe environment to invest in. The government is pro-business and pro-enterprise and has friendly policies.”

Meanwhile, moving to matters closer to home, Mr O’Brien commented on the chaos that is Brexit – as British Prime Minister Theresa May battles to save her job, stave off more resignations in her Conservative Party and get her draft EU withdrawal agreement approved by Parliament.

Mr O’Brien said: “If you were a racing person, you’d have to say it’s going to be very difficult for her to win a Parliamentary vote to approve the deal at this stage.”

He admitted the contentious draft agreement is “really the best of a bad deal”, but predicted Theresa May will lose the Parliamentary vote and could possibly face a General Election.

“And then we’re into no man’s land,” he added.

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