Papua New Guinea is rich in natural resources, which account for two thirds of their export earnings. Though PNG is filled with resources, the lack of development led foreign countries to take over some sites. Continuing foreign demand for PNG's resources led the United States to set up an oil company that began to export in 2004. This was the largest project in PNG's history. The project increased the potential to triple PNG's export revenue. Papua New Guinea gained much assistance from Australia and was offered two hundred million dollars a year in aid, and many countries such as Singapore, Japan and China have also played a great part in PNG's industry business. The decision to host the 2018 APEC meeting, bringing a large number of world leaders to Port Moresby, indicates the speed with which Port Moresby is entering the world economy.