PNGAPEC mining ministerial meetings will be held at the summit and the Papua New Guinea government, as the host nation, will be seeking to establish trade relationships and investment opportunities that benefit the resources sector, he told the PNG Mining and Petroleum Investment Conference in Sydney yesterday.
"These meetings are essential for promoting innovation in industry," he said.
"What we need from our resources sector is to retain our confidence in the PNG economy. Yes, we continue to face challenges, but we are a sound investment destination."
O'Neill said that PNG would play a leadership role in attracting investment from the resources sector in the Pacific during the summit despite the uncertainty in the region.
"We are better off pursuing bi-lateral trade agreements to help modernize our economy," he said.
O'Neill said the government would also attempt to pro-actively assist the resources industry to grow in PNG by partnering with the industry.
"The government cannot do it alone. Partnership with industry is vital. There has been a great deal of change and the government is fully committed to these projects."
O'Neill said PNG has offered a stable political environment for investment even though it was facing an election next year in which there would be "robust" campaigning.
"PNG offers a lot of continuity and we are proud of that," he said. "It is the best time to invest in . We seem to be entering an upward swing."