Features

Industry diversification a must, say ADB and Manufacturers Council

The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report … [read on ...]

LNG ship feature

Papua New Guinea’s broadband network ‘on track’, but there will be challenges, says analyst

The rollout of PNG's National Transmission Network is on track for completion later this year. It will transform the nation's digital highway, but … [read on ...]

PNG_BroadbandMap_feature

Business Advantage’s 2017 Papua New Guinea Investment Conference

Business Advantage International has announced the date for its next major PNG investment conference. The Business Advantage Papua New Guinea … [read on ...]

The conference will be conducted in the heart of Sydney's financial district.

Papua New Guinea entrepreneurs trial digital technology for cancer diagnosis

Trials have begun of a way to use the internet to improve the diagnosis of cancer biopsies. It is another PNG innovation that has grown out of the … [read on ...]

The ePathPG medical specialists, Dr Joe Norie, Dr Jacklyn Joseph and Dr Rodney Itaki.

Five questions for the IFC’s Dina Nicholas on growing cruise line tourism in Papua New Guinea and Solomon Islands

Cruise liner tourism in PNG and the Solomon Islands could grow five-fold within two years, according to a study commissioned by the Australian … [read on ...]

A P&O cruise ship arrives in Milne Bay. Credit: David Kirkland

Latest news

New business show on Papua New Guinea television

A new-format television program about business in Papua New Guinea will commence airing next week on national broadcaster EMTV.

What is stopping Papua New Guinea’s Panguna mine from re-opening?

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

Training of PNG’s LNG technicians steps up

In a bid to promote skills formation in Papua New Guinea’s LNG sector Kumul Petroleum Academy, trading as South Pacific Employment Institute (SPEI), has signed a K9 million technician development agreement with ExxonMobil PNG.

Read more News

Mining & petroleum

Oil up, gas down and palm oil surging: a monthly review of commodity prices and financial markets

Palm oil was the biggest mover in the month, while gold, coffee and oil prices remain strong. Gas prices, however, continue to be weak and in the currency markets, the kina continues its slide against the yen. Business Advantage PNG’s monthly overview of commodity and financial markets.

What is stopping Papua New Guinea’s Panguna mine from re-opening?

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

More on mining and petroleum ...

PNG’s forex crisis

A weaker kina may make sovereign bond raising less risky, says economist

The Papua New Guinea authorities should allow the currency to fall to its market level to make foreign bond raisings less risky says economist Rohan Fox. He tells Business Advantage PNG that domestic banks are reaching the limits of their capacity to take on government debt, which is increasing the pressure to raise capital internationally.

Moody’s bullish on longer term future of Papua New Guinea economy

Moody’s recently downgraded its sovereign rating on Papua New Guinea to B2 from B1. But Christian de Guzman, a Senior Analyst in the Sovereign Risk Group for Moody’s Singapore tells Business Advantage PNG that the agency is ‘quite confident’ about the overall economy’s prospects over the medium-term.

Papua New Guinea’s central bank ‘determined’ to get foreign currency in, says Bakani

The Governor of the Bank of Papua New Guinea, Loi Bakani, told this week’s Australia–Papua New Guinea Business Forum in Cairns that the bank is ‘determined’ to obtain more foreign currency ‘as soon as possible’ to address the backlog in foreign exchange demand. However, he criticised claims that PNG’s foreign exchange problem could be solved by allowing a free float of the kina, reports David James.

Opinion and analysis

Opinion: What you need to know about Papua New Guinea’s new Cybercrime Act

The Papua New Guinea Government has passed the Cybercrime Bill, which applies to the use of electronic systems and devices, including: spam, hacking, forgery and computer fraud. Zinnia Dawidi, a lawyer specializing in IT & Telecommunications Law outlines the implications for businesses and individuals.

Opinion: it is necessary to protect Papua New Guinea’s industries, says Michael Kingston

Papua New Guinea’s industries need to be protected if the nation is to proceed on the path to full industrialisation, says economist Michael Kingston, Chief Executive of manufacturer KK Kingston. He believes PNG can learn from Asia’s record.

Read more opinion/analysis

Interviews

What is stopping Papua New Guinea’s Panguna mine from re-opening?

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

St Barbara set on further exploration in Papua New Guinea, says MD

St Barbara recently announced that gold production from its Simberi mine in New Ireland rose by 39 per cent in the year to June: exceeding ‘the upper end of guidance.’ Managing Director Bob Vassie tells Business Advantage PNG that the company is looking to explore more in Papua New Guinea.

Infrastructure

Papua New Guinea could attract big cash for infrastructure, says Pascoe

In an environment of plummeting interest rates, long term infrastructure investment is a sound option for both investors and governments. Financial and business commentator Michael Pascoe, speaking in Port Moresby last week, noted that the difficult global financial environment throws up opportunities for countries like Papua New Guinea.

AES preparing for the next economic upturn

The downturn in the Papua New Guinea economy has presented challenges for Avenell Engineering Systems (AES). But Managing Director Dominic Avenell tells Business Advantage PNG that the company has adapted well. AES is, he says, strengthening its capabilities and preparing for the next upturn.

More on infrastructure ...

Company profiles

Wantok Clothing: the Papua New Guinea-owned company that made the Olympic uniforms

For the first time the uniforms of Papua New Guinea’s Olympic athletes have been fully made locally by a PNG-owned company. That company is Wantok Clothing and founder Genevieve Igara tells Business Advantage PNG that it has shown what is possible.

Meet Kumulsoft, Papua New Guinea’s home grown software developer

Two years ago, Port Moresby based ICT company, Kumulsoft, branched out into writing tailored software products for local companies and government departments. Now they have six major clients on the books, as well as a number of law firms. Partner Marsh Narewec explains their success to Business Advantage PNG.

Read more profiles ...

Investment/economy

Industry diversification a must, say ADB and Manufacturers Council

The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report by the Asian Development Bank. There is a compelling argument for industry diversification; Chey Scovell of the Manufacturers Council says the focus should be on creating stable employment.

Business Advantage’s 2017 Papua New Guinea Investment Conference

Business Advantage International has announced the date for its next major PNG investment conference. The Business Advantage Papua New Guinea Investment Summit will be staged in Sydney in September 2017. ‘Our 2017 PNG Investment Conference will be an energetic re-boot of the investment conference format, aimed at connecting PNG businesses with international partners, and showcasing PNG as a favourable business […]

US$200 million in finance for private sector climate change projects

Climate change is the ‘single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific’, according to the Pacific Islands Forum Secretariat (PIFS). But the region is showing leadership and there are opportunities for Papua New Guinea to gain access to climate finance.

More articles on investment ...

Latest News

New business show on Papua New Guinea television

A new-format television program about business in Papua New Guinea will commence airing next week on national broadcaster EMTV.

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Features

Industry diversification a must, say ADB and Manufacturers Council

The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report by the Asian Development Bank. There is a compelling argument for industry diversification; Chey Scovell of the Manufacturers Council says the focus should be on creating stable employment.

Bank South Pacific's expansion to drive growth in Pacific Island economies

The next phase of Bank South Pacific’s (BSP’s) geographical expansion will create new opportunities for the region’s businesses and consumers alike, according to CEO Robin Fleming. [Read more ...]

Opinion

Opinion: What you need to know about Papua New Guinea’s new Cybercrime Act

The Papua New Guinea Government has passed the Cybercrime Bill, which applies to the use of electronic systems and devices, including: spam, hacking, forgery and computer fraud. Zinnia Dawidi, a lawyer specializing in IT & Telecommunications Law outlines the implications for businesses and individuals.

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