Clarence Hoot

Malaysia takes lead as investor in PNG

This was revealed by Investment Promotion Authority acting managing director, Clarence Hoot, during the PNG Investment Conference in Brisbane.

Hoot said Malaysia has replaced Australia, who is now sitting at third place.

“In the recent past there has been a huge increase in Malaysian investment, so the latest statistics we have Malaysia in front, followed closely by Singapore and Australia third.

“Where it (Malaysian investment) goes into is mainly forestry sector, mining and energy, and agriculture is slowly cropping up as well.”