At the signing in Port Moresby this week, Prime Minister Peter O'Neill said the new projects would have direct positive impacts on the lives of people in Eastern and Western Highlands provinces.
"These projects will enhance agriculture, roads and water supply in parts of the Highlands will improve lives and help people to be more active in the economy.
"China is one of our strongest development partners, and this direct investment is an example of the huge confidence that China and Chinese companies have in Papua New Guinea.
"Despite the challenges in the global economy in recent years, the outlook for the Papua New Guinea economy is very positive and we thank our partners for their commitment to our country," O'Neill said.
He said that the projects initiated would be delivered in some of the most remote parts of the country where there is a need to improve connectivity and services. These projects would form part of China's ‘one belt, one road' initiative to create more efficient trade corridors between the Asia-Pacific and Western Asia.
"I look forward to further discussing these and other initiatives with President Xi Jinping when he arrives in Papua New Guinea for APEC next year," O'Neill said.
The three memorandums of understanding signed, in the presence of O'Neill, Works Minister Michael Nali and Agriculture Minister Benny Allen were:
• The China-PNG Integrated Agriculture Industrial Park;
• The high priority economic roads project;
• Goroka town water supply upgrade project.