In 2007, Papua New Guinea’s National Executive Council decided to develop a long-term strategy called The Papua New Guinea Vision 2050 to guide the Nation’s future direction. Covering seven strategic focus areas, which are referred to as pillars, human capital development, wealth creation, institutional development and service delivery, security and international relations, environmental sustainability and climate change, cultural and community development, and strategic planning and integration, the aim of Vision 2050 is to transform Papua New Guinea into an emerging developing country.
To achieve this goal, Papua New Guinea must improve governance, service delivery, law and order, and moral obligations. The Vision 2050 will pursue four development routes for the first ten years, including better service delivery, improved education, improved health services, and sound political leadership and structures. Papua New Guinea will focus on economic growth underpinned by key development projects, such as land reform, the development and adoption of new technologies, and improved productivity.
As Vision 2050 calls for robust economic growth, wealth creation, sound resource allocation & taxation, and a significant improvement in the Nation’s position on the Corruption Perception Index, Treasury is aware of its obligations to the long-term success of the Nation and strives to meet the vision’s goals and objectives through sound financial management and economic leadership.