| The first is that PNG has effectively given up on its sovereign wealth fund. Millions of Australian dollars have been spent on advising the PNG government on setting up a SWF. It was once seen as so important that it was the subject of a separate agreement between the two countries.
A SWF was legislated back in 2012, but proper procedures were not followed so it is not binding. The entire point of the SWF was to receive and manage the proceeds from the massive liquefied natural gas project that will come on line this year...............................................Full Article: Source
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