Papua New Guinea Hopes to Achieve Stable Growth in Decade

Papua New Guinea expects to achieve a better economic and social growth allowing for better employment in the next decade, the country's Prime Minister Peter O'Neill said Tuesday at the APEC CEO summit in Manila.

MANILA (Sputnik) — The Philippines host this year's Asia-Pacific Economic Cooperation (APEC). The APEC meetings have been under way in Manila, bringing together 21 Pacific Rim member economies, scheduled to culminate with the APEC Economic Leaders' Meeting on November 18-19.

"In the next 10 years we will have enough political stability that will allow us the growth that will be stable," he said during the Asia-Pacific's premier business event.

"We heavily invest in infrastructure, that ten business require," he said stressing that the government invests in building sea and air ports.

The government also invests in education, trying to have the necessary skill base that the business require, according to O'Neill.

The country is trying to create jobs that will compliment the industries that are already in place, he said.

The APEC, established in 1989, promotes free trade throughout the Asia-Pacific region.

The APEC forum includes Russia, the United States, China, Canada, the Philippines, Mexico, Peru, chili, Australia, New Zealand, Vietnam, Papua New Guinea, Malaysia, South Korea, Japan, Indonesia, Hong Kong, Brunei.