Transcript
APEC is billed by PNG's government as the ultimate chance to unlock the resource-rich country's economic potential.
Despite a struggling economy, and record debt levels, the government has borrowed significantly to develop the city's infrastructure, such as road construction, in time for APEC
PNG's Treasurer is Charles Abel.
"We need investments, we need partnerships, we need capital to develop our country, and so APEC is going to represent a wonderful marketing opportunity for Papua New Guinea. So APEC presents an opportunity. Bring all the CEOs here, bring the global leaders, bring the world's spotlight here. And we're saying that within this Asia Pacific region, which is going to be the major growth driver in the world over the next few years, Papua New Guinea is well placed."
But the opposition MP Bryan Kramer is not convinced with the government's claim that hosting APEC will put PNG on the global map.
"Well, firstly, we're already on the map. The problem is we're on the map for all the wrong reasons. The reality is we're a very small economy. So it's not like all of a sudden the world is going to open up to PNG. The challenges in PNG remain the same, in terms of doing business in PNG, in terms of corruption, and these are the deterrents that are turning away investment."
Over the past ten years or so, Port Moresby has seen a great surge in investment. But the growing skyline and the influx of money hasn't translated into much in the way of opportunity forS average Papua New Guineans.
"The average Papua New Guinean is struggling to get by. The cost of living has gone up as our kina continues to devaluate based on our restrictions on foreign exchange. So while the APEC is ramping up in terms of its media and publicity, it'll have little impact on people on the ground."
But the Governor of PNG's national capital district Powes Parkop is banking on a future payoff.
Hosting APEC offers the possibility of a new reputation for a city known internationally for its high crime rate.
"We will prove that we are capable of hosting a major global event. We also will be a city that not only Papua New Guinea can look to for services and opportunities. But also for me I want to see Port Moresby becoming a regional city that the Pacific looks to for services, for employment, for recreation, for entertainment, for opportunities as well."
The APEC summit will be the biggest event that has ever taken place in this Pacific island country of eight million people.
APEC is all about opportunity, and PNG's government has its eyes firmly on the main chance.
This is Johnny Blades.
