For more than half a century, Sir Bob Sinclair has been a towering figure in Papua New Guinea’s business and economic landscape. Arriving in Lae in 1964, he has witnessed the country’s transition from a colonial territory to an independent nation and has played an active role in shaping its business environment. At 81 years old, his voice remains as powerful as ever—calling on Papua New Guinea to take ownership of its vast natural resources and steer itself towards a more prosperous and self-sufficient future.
In an exclusive interview, Sir Bob issues a passionate plea for economic transformation, warning that the past 50 years of mismanagement and undervaluation of forestry, fisheries, and other critical resources have kept Papua New Guinea from reaching its true potential. He argues that PNG has been selling its resources for "peanuts" since independence in 1975, leaving the country struggling while foreign investors reap the bulk of the benefits.
However, Sir Bob does not dwell on the past with regret. Instead, he offers a bold vision for the next 50 years—one where downstream processing, sustainable management, and fairer investment partnerships put Papua New Guinea on a path toward real economic independence.
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| Sir Bob Sinclair |
Click to watch the video interview with Sir Bob Sinclair
A Nation at a Crossroads
Reflecting on his recent discussion with Prime Minister James Marape, Sir Bob acknowledges that there is a shared understanding at the highest levels of government about the need for economic reform.
“Having talked to the Prime Minister just right now and listening to what he thinks about our future and our vision, the two of us are on the same lines,” he says. “We are thinking about the economy and the future for our people, our children, for the next 50 years.”
Sir Bob warns that if PNG continues to allow its resources to be exploited cheaply, the nation will "sink" rather than rise. But he is also confident that with the right policies, the country can turn the page on decades of poor resource management and economic disparity.
“We’ve had 50 years of growing up as a nation. Now, it’s time to stand on our own two feet, to say what we want for ourselves, and to demand fairness from those who come into our country.”
His primary concern lies in how PNG’s resources are being used and valued. He argues that other nations have successfully transitioned from raw resource exports to high-value processing industries, and PNG must follow suit.
Lessons from Indonesia: The Timber Industry Example
One of the most striking examples Sir Bob offers is Indonesia, a country that has turned its forestry sector into an economic powerhouse by focusing on downstream processing rather than raw log exports.
“Indonesia stopped exporting raw logs 20 years ago, and today, they are the world leader in plywood,” he says. “They export billions of dollars worth of plywood for housing, furniture, and other products. They are getting the real value from their timber.”
With a population of more than 275 million people, Indonesia’s economic model is built on maximising resource value. In contrast, PNG—with just 12 million people—has failed to capitalise on its forestry sector in the same way.
Sir Bob sees a massive opportunity in following Indonesia’s lead.
“We should be building plywood factories here in Papua New Guinea, using our own timber, and getting on the global market with our own finished products,” he says.
Beyond timber, he believes the same principle should apply to all PNG’s industries. Instead of exporting raw materials, the country should focus on processing and manufacturing to create jobs, increase revenues, and strengthen the economy.
Fixing the Fishing Industry: Millions Lost Every Year
Sir Bob also zeroes in on the fishing industry, another area where PNG has been losing out due to poor regulations and unfair business practices.
PNG issues around 250 fishing licenses, allowing foreign companies to harvest massive amounts of fish from PNG waters. However, many of these fishing vessels never dock in PNG ports. Instead, they are refueled and resupplied at sea by large mother ships, meaning PNG loses millions in excise revenue and economic activity.
“That’s millions of kina we could be taking advantage of, but we’ve been letting it slip through our fingers for the past 50 years,” Sir Bob says.
His solution? Enforce strict regulations requiring all licensed fishing boats to dock in PNG ports, refuel locally, and purchase supplies within the country.
“This is how you take control of your industry,” he explains. “We should be processing more of our own fish, creating jobs, and making sure that the profits stay in PNG—not just benefiting foreign companies.”
No More Exploitation: A Call for Fair Investment
Sir Bob strongly believes that foreign investment is necessary, but he is adamant that it must be fair.
“Right now, it’s a 90-10 deal,” he says. “90% of the profits go out of the country, and only 10% stays here. That has to change.”
He calls for a shift towards equal partnerships, where PNG retains at least 50% of the benefits from resource-based industries.
“We need the right investors, the ones who will treat PNG fairly, not take everything and leave us with crumbs,” he says.
Beyond economic policies, Sir Bob also stresses the importance of enforcing national laws and ensuring that foreign businesses operate within PNG’s rules—just as they would in their home countries.
“We can’t go to China, Malaysia, or Australia and do what some companies are doing here,” he says. “No way in the world would they let us do that. It’s time we demand the same respect for PNG.”
A Future Built on Strength, Not Dependence
Sir Bob Sinclair’s message is clear and urgent: Papua New Guinea must take control of its resources, enforce its laws, and ensure that investment deals benefit the nation—not just foreign corporations.
The next 50 years must be different.
“I’m all about downstream processing because it can employ thousands and thousands of Papua New Guineans,” he says. “We must protect our resources and extract the maximum benefit from them.”
His call to action is directed at leaders, policymakers, businesses, and the people of PNG.
“This is our country. We’ve had 50 years of lessons—now it’s time to use them. The next 50 years are ours to shape, and we must do it the right way.”
As Papua New Guinea marks its 50th anniversary of independence, the choices made today will determine whether the nation continues on a path of resource dependency or steps into an era of economic empowerment and self-sufficiency.
Sir Bob Sinclair has issued the challenge. The question now is: will Papua New Guinea rise to meet it?
