Closing Address — PNG CORE Senior Vice President Richard Kassman, OBE
11 December 2025
Closing Address — PNG CORE Senior Vice President Richard Kassman, OBE
11 December 2025
Ladies and gentlemen, distinguished leaders, partners, and friends of Papua New Guinea,
As we come to the close of PNG Investment Week 2025, it gives me great pride to reflect on the scale and spirit of this year’s gathering. This has been our largest Investment Week to date, with around 1,800 delegates, 90 Speakers, and more than 90 exhibition booths represented from across 21 countries Europe, Asia, the United States, and the Pacific, these are notable increase/improvement from last year’s event. This strong turnout demonstrates that global confidence in PNG continues to grow, and that our message, that “Stronger Together, Investing for the Future”, resonates widely.
1. Highlight of the Event
This week will be remembered not only for its scale, but for its history-making moment: for the first time ever, the Prime Minister of Papua New Guinea and the Prime Minister of Australia jointly attended and addressed a major investment conference of this magnitude.
Their presence echoes the powerful and unmistakable message — that our two nations stand united, stronger together, and deeply committed to a shared future of stability, prosperity, and partnership.
Their remarks set a spirit of purpose that carried through every session and every dialogue held this week.
2. Major Summits and Forums
Throughout the week, we have displayed each of our core themes guiding the flow of conversation and ensuring that our discussions aligned with the broader vision of a stronger, more inclusive investment environment for PNG. These themes, regulatory clarity, climate investment, energy and minerals development, financial resilience, infrastructure connectivity, and frontier exploration, formed the backbone of every plenary, workshop and dialogue session.
Regulators Forum – We began with a strong focus on regulatory reform and facilitation, where agencies outlined their commitments to improving the ease of investing in PNG. Their presentations helped us see both the progress already achieved and the areas where closer collaboration will help us create a more predictable and transparent investment environment. Breakout session allowed regulators and investors engage in technical discussion on how best to enhance ease of business with a brief report being presented to Chief Secretary Ivan Pomaleu of which further discourse is expected in the coming year.
Climate Summit – Our Climate Investment Summit reminded us that global capital is increasingly shaped by climate obligations and sustainability goals. The keynote speeches and panel session demonstrated that PNG has genuine opportunities to attract climate-aligned investment, but only if we continue strengthening institutions, improving reporting frameworks, and ensuring that communities are part of the planning and benefit-sharing process.
PNG Investment Leader’s Summit – At the heart of the event, is the Investment Leaders Summit, the joint remarks by the Prime Ministers of PNG and Australia reaffirmed the shared history, long-standing bilaterial and strategic partnership between our nations. Their presence reflected the importance of regional collaboration as PNG reaches its 50th anniversary of independence. This theme of shared purpose “stronger together” echoed across our energy, minerals, and development partner discussions.
The Resources and Energy Project Summit – The Resources and Energy Project Summit and the Exploration Forum provided the latest updates on major operations and emerging prospects. These sessions showed that PNG continues to hold significant geological and commercial potential, and that responsible investment can deliver meaningful national development outcomes when supported by clear rules and strong partnerships.
Financial Resilience and Sovereign Wealth Forum – Our Financial Resilience and Sovereign Wealth Forum added another important dimension. Discussions on banking stability, digital transformation, inclusive finance, and sovereign wealth governance reminded us that responsible investment must also be underpinned by strong financial institutions. Long-term development requires long-term revenue management, and I thank all our presenters for their insights into how PNG can strengthen this architecture.
Infrastructure Investment Summit – The Infrastructure Investment Summit then brought us back to the foundations of national competitiveness. Whether through transport corridors, renewable energy frameworks, ports, airports, digital connectivity, or defence partnerships, it was clear that infrastructure is not just a support system but a catalyst for investment, trade, and regional growth.
Across our sectoral, climate, and leadership discussions, a consistent thread emerged: unlocking PNG’s full potential will require greater coordination across government, industry, and international partners. Many of our speakers highlighted the need for reliable information, consistent policy implementation, and planning frameworks that give investors confidence while ensuring that benefits flow meaningfully to our people.
3. International Suppliers Forum
A total of 81 Suppliers engaged directly with 14 Operators on the session showcasing new capabilities, innovation and offering industry solutions. This reflects the importance of building long-term partnerships between PNG industries and international suppliers.
4. Sideline Agreements Signings and Announcements
The event provided a platform for a number of sideline meetings and agreements. About eight announcements were made on the periphery of the event which included:
· Pacific Lime and Cement (PLC) formalizing Project Development Agreement with the PNG government,
· Kumul Minerals Holdings Limited acquiring 20% of Simberi Mine Project,
· Terms of Project Development Agreement were agree to by RD Tuna Canners Limited and Madang Integrated Special Economic Zone (SEZ) to build a fish cannery in Madang, .
· Conservation and Environment Protection Authority granted 6 environment permits to Frieda River Limited
· KPHL finalizing State Equity take in Papua LNG Project
· And Tisa Bank introducing a tailored banking product suited for landowner companies.
5. Charity Initiatives
This year, we have also witnessed extraordinary generosity from our members and delegates. I am pleased to share that K350,000 was raised in this year’s annual golf fundraiser, From the funding raised last year (2024), we were able to purchased medical equipment for paediatric wards for Mt. Hagen Hospital. We will do the same for this year’s raisings. A Shout-out to winner for this year’s golf competition – McMonagle Queensland (owners of Sun Engineering).
In addition, through the collective goodwill of PNG CORE members, delegates, and partners, this event took the initiative to raise AUD 60,600, approximately PGK 171,080, for the Conjoined Twins Fund. The Chamber will also contribute further to this cause. This support reflects the heart of our community and our belief that investment must always uplift the lives of people.
Closing – Before we close, I would like to acknowledge our principal sponsors, whose support has been instrumental in making this week possible. Your partnership demonstrates confidence in our nation and a shared commitment to building a stronger future for PNG. We deeply appreciate your continued collaboration. They are:
1. ExxonMobil PNG
2. Pacific Lime and Cement (PLC)
3. Kumul Mineral Holdings Limited (KMHL)
4. Kumul Petroleum Holdings Limited
5. Tisa Bank
6. Santos
As PNG CORE consolidates the outcomes of this week, we will be preparing a set of actionable recommendations based on the insights and priorities raised across all forums. These outcomes will guide our work with government, investors, development partners, and communities as we continue advocating for a transparent, well-coordinated, and investment-ready PNG.
Ladies and gentlemen, thank you for your engagement, your openness, and your partnership throughout this week. The conversations held here, whether in plenary rooms, workshops, booths, or informal networking spaces, are the building blocks of real progress. Together, we have reaffirmed that PNG’s success will be shaped not by any single institution, but by the collective strength of all who choose to walk this journey with us.
As we close PNG Investment Week 2025, let us carry forward the spirit of collaboration, optimism, and shared purpose that has defined these past days. PNG is ready, and together, we are investing in a future that delivers opportunity for all our people.
Thank you, and we look forward to welcoming you again next year.
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Our friendly team is here to guide you every step of the way. Simply email us at events@pngcore.org for personalised support and a smooth registration experience.