News

In brief: Tuna fishing rebate changes favour on-shore processors, and other business stories

New fishing rebate scheme favours on-shore processors, coffee producer says poor roads in Western Highlands devalues coffee, and Lae laments loss of Alan McLay. Your weekly digest of the latest business news. Trade Minister, Wera Mori, says a threat by foreign fishing firms to close their processing facilities, after the government ended the rebate on […]
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New ports manager ICTSI outlines its plans for Lae and Motukea Island

Conducting stevedoring transactions in US dollars instead of kina is an opportunity to get in much-needed foreign exchange, according to Ted Muttiah, Director, Asia Pacific, for ICTSI South Pacific. He tells Business Advantage PNG the company, which has been appointed to manage new ports at Motukea and Lae, is aiming high.
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IMF report says Papua New Guinea Government taking initiative but challenges remain considerable

A report on the state of the Papua New Guinea economy by the International Monetary Fund (IMF) says the Government has taken some ‘bold steps’ in its economic management. But it contends that the challenges are considerable and would be best managed with an 'active' approach to macroeconomic management.
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APEC planning on track says CEO

Chris Hawkins, Chief Executive Officer of the APEC PNG Co-ordination Authority believes sceptics about Papua New Guinea’s ability to host APEC will be proven wrong. The policy areas that will be emphasized are improving connectivity, creating sustainable and inclusive growth, and implementing structural reform.
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In brief: Details of US$500m Credit Suisse loan to Papua New Guinea revealed, and other business stories

Treasury Minister outlines details of US$500 million loan deal, World Bank commends 2018 Budget, crucial meeting over the future of BCL's exploration licence. Your weekly digest of the latest business news.  
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Galip nut a global opportunity for Papua New Guinea agriculture

The commercial potential of PNG’s galip nut could soon be realised. Helen Wallace, Project Leader at the Transformative Agriculture and Enterprise Development program tells Business Advantage PNG that the strong growth in the nut industry indicates it is the right time to develop the sector.
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Mainland CEO calls for Papua New Guinea Land Bank register of landowners to develop crop planting

The CEO of Mainland Holdings wants a national register of landowners willing to lease their land or grow crops on their property. David Alcock has also outlined his company’s plans to boost feedstock for poultry and pigs, to reduce costs and save foreign exchang
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