Foreign exchange shortages still biting business in Papua New Guinea

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The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.

What does Papua New Guinea business want from the new Marape government?

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With its majority established in Parliament and its ministry appointed, Papua New Guinea’s Marape government is now getting back to the business of running the country. Key business leaders tell Business Advantage PNG what they think its priorities should be.

Room to grow: President of Lae Chamber of Commerce sees opportunities but investment and education are essential

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John Byrne, President of the Lae Chamber of Commerce, tells Business Advantage PNG that, although there is an underlying level of confidence in PNG’s second city, infrastructure projects and investment are urgently needed.

Reconsidering Porgera: Papua New Guinea’s industry bodies urge government to negotiate

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Papua New Guinea’s government is coming under intense pressure to renegotiate the Special Mining Lease for the Porgera gold mine, which it refused to extend in April. Multiple industry bodies have urged the government to urgently negotiate with the mine’s joint venture operators, Barrick Gold and Zijin Mining, pointing to extreme economic stress.

Business chambers to Treasury: business needs your help

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As the government seeks to start disbursing the funds raised by its COVID-19 bond, the presidents of Papua New Guinea’s two largest business chambers tell Business Advantage PNG they are looking for a stimulus package ‘with teeth’.