To tackle the potential decline in revenue post-exploitation of natural resources the government of Papua New Guinea has implemented a multi-pronged strategy
Firstly there's a strong emphasis on economic diversification encouraging investments in sectors like agriculture tourism and manufacturing By reducing reliance solely on extractive industries the country aims to build a more resilient and sustainable economy
Secondly there are stringent environmental regulations in place to ensure responsible resource extraction mitigating environmental degradation and preserving natural assets for future generations
Moreover the government has introduced taxation measures to generate revenue for future development projects ensuring continued economic growth beyond the era of extractive industries
