Speaking at the United Kingdom - Papua New Guinea Trade and Investment Forum in London this week, O'Neill said PNG was a robust democracy with strong institutions to support economic growth.
He also said his government was pursuing capacity building policies in education, healthcare, law and order, and infrastructure development.
"Stability is what the country requires so that economic growth will continue as we give confidence to the business community," he said.
"Alongside political stability we also have an absolute independent judiciary [and] the central bank is fiercely independent [as well].
"[It] has made tough decisions but this ensures inflation is manageable, exchange rates are not subject to large fluctuations and interest rates continue to remain stable."
However, service delivery remains a challenge along with sectors of the economy not directly associated with resources.
Part of the push by the PNG delegation is to raise the business opportunities not only in mining and oil and gas, but also in agriculture, fisheries and small and medium enterprises.
Event organisers Developing Markets Associates said O'Neill's message "resonated in London" with 300 registered business delegates partaking in networking events throughout the day.