On February 3, 2026, the Business Council of Papua New Guinea (BCPNG) convened the 16th Prime Minister’s Back to Business Breakfast at the Stanley Hotel in Port Moresby. Bringing together leaders from government, the private sector, the diplomatic community, and broader stakeholders, the landmark event served as the official launch of this year’s Praivet Gavamani Konekt (PGK) 1 series. The event centred on the theme, “Harmonizing the Economy—Aligning Partnerships, Investments, and National Priorities for Shared Prosperity,” and was proudly supported by principal sponsor, Kina Bank.
“Game On”: Business Council PNG Opening Remarks
“Game On” were the defining words of the 16th Prime Minister’s Back to Business Breakfast, as Business Council of PNG President, Mrs. Susil Nelson-Kongoi, emphasised that Papua New Guinea’s progress depends on strong alignment between government, business, and communities. She underscored the need to harmonise the economy by ensuring partnerships, investments, and national priorities work together to deliver shared prosperity, stressing, “The strength of our country does not come from any one institution, sector, or individual—it comes from how we work together.”
Mrs. Nelson-Kongoi highlighted the Government’s role as the country’s largest investor through major initiatives such as Connect PNG and the Medium-Term Development Plan IV, positioning public investment as a key catalyst for economic momentum and increased private sector participation. However, she stressed that accelerating growth requires Papua New Guinea to “get the basics right,” pointing to persistent challenges including foreign exchange shortages, infrastructure and utility gaps, security concerns, governance weaknesses, and regulatory constraints that continue to affect investor
confidence.
She further called for stronger public–private partnerships and increased private sector leadership, particularly across emerging sectors such as technology, green business, diaspora engagement, and PNG’s growing sports economy. Mrs. Nelson-Kongoi concluded with a strong call to action for stakeholders to work collaboratively and decisively to drive sustainable growth, innovation, and inclusive national development — urging partners to “Finish First.”
Economic Outlook and Resilience 2026: Kina Bank
She further called for stronger public–private partnerships and increased private sector leadership, particularly across emerging sectors such as technology, green business, diaspora engagement, and PNG’s growing sports economy. Mrs. Nelson-Kongoi concluded with a strong call to action for stakeholders to work collaboratively and decisively to drive sustainable growth, innovation, and inclusive national development — urging partners to “Finish First.”
Kina Bank Chief Executive Officer and Managing Director, Mr. Ivan Vidovich, appointed in 2024, delivered a cautiously optimistic outlook for 2026 despite ongoing global economic volatility. He forecast GDP growth at approximately 4 percent, largely driven by performance in the non-resource sector, including cocoa and copra oil production. Inflationary pressures are expected to rise slightly to around 4.2 percent, influenced by Australian interest rate movements and a strengthening Australian dollar impacting import costs.
Kina Bank continues to position itself as a disruptor within Papua New Guinea’s financial landscape, highlighting several key innovations. These include the launch of Kina Pay, a tap-and-pay mobile payment solution, and the upcoming rollout of a new Corporate Online Banking platform. These initiatives reflect Kina Bank’s strategy to reduce the cost of banking through digital-first solutions while promoting greater financial inclusion.
Mr. Vidovich also outlined the bank’s broader strategic shift towards deepening domestic financial markets, including plans to issue the first PNGX-listed corporate bond under new legislation. The initiative aims to establish a benchmark for local currency funding while supporting institutional growth and expanding domestic investment opportunities. He concluded by affirming the shared responsibility of national stakeholders, stating, “As business leaders, policy makers and development partners, our task is clear: to steer Papua New Guinea towards a future of shared prosperity.”
K200 Billion Vision: Marape-Rosso Government
At the Breakfast, Prime Minister Hon. James Marape declared 2026 the “Year of the Reset,” outlining the Government’s long-term fiscal and economic vision. He noted that Papua New Guinea’s economy has grown from approximately K79 billion in 2019 to K132 billion today, with an ambitious target of reaching K200 billion by 2030.
Emphasising that “we must be strong in every sector,” the Prime Minister highlighted the Government’s transition from what he described as “artificial” economic stability toward a production-driven economy. Key drivers include the Connect PNG infrastructure program, particularly the “Road to Port” strategy, alongside strategic national investments such as the Government’s 51 percent equity participation in the Porgera mine, aimed at strengthening economic sovereignty and long-term self-reliance.
Prime Minister Marape also introduced the “Reset@50” Artificial Intelligence agenda, aimed at modernising public sector operations and improving governance transparency. He explained that the Government intends to utilise automated systems to “remove human preference and human element from government contracts” and public service appointments.
While acknowledging that market-led currency adjustments may create short-term challenges, the Prime Minister stressed that such reforms are necessary to strengthen economic resilience and reduce dependency on external market pressures. He challenged the private sector to diversify beyond traditional resource industries to help secure long-term sustainable growth.
Panel Discussion: Prime Minister and Kina Bank CEO & Managing Director
The panel discussion, moderated by BCPNG Treasurer Ms. Courtney Boustridge, focused on the critical need to harmonise public investment with private sector capability to achieve shared prosperity. One key issue discussed was the potential grey-listing of Papua New Guinea, anticipated in early 2026, and how businesses, including financial institutions such as Kina Bank, can mitigate its impact on the broader economy.
Prime Minister Marape also outlined opportunities for private sector participation within the Government’s estimated K10 billion public investment pipeline, encouraging businesses to collaborate in infrastructure delivery and economic diversification initiatives.
The session concluded with a strong call to move “beyond dialogue to delivery,” reinforcing the importance of coordinated action between government and industry. While the Government continues to play a central role as the largest investor through initiatives such as Connect PNG, long-term national resilience will depend on private sector leadership, particularly in emerging industries such as technology, green business, and PNG’s expanding sports economy, which together present new
opportunities for job creation and inclusive economic growth.
Strengthening Dialogue for National Progress
The 16th Prime Minister’s Back to Business Breakfast reaffirmed the importance of constructive engagement between government and the private sector in shaping Papua New Guinea’s economic future. Through the Praivet Gavamani Konekt series, the Business Council of Papua New Guinea remains committed to fostering meaningful dialogue that strengthens partnerships between the private sector and government. By continuing to convene leaders, promote knowledge sharing, and advocate for policies that support sustainable economic growth, the Business Council aims to ensure that collaboration remains at the centre of Papua New Guinea’s development journey and shared prosperity agenda.
