Local knowledge and ‘being there’ critical for business success in the Pacific region

Looking to invest successfully in the Pacific? There’s no substitute for understanding your market and its people, and for being on the ground. Three successful regional investors also outlined to the Business Investment PNG Conference which sectors have the most potential.

Papua New Guinea Investment Conference ‘a resounding success’

The Business Advantage Papua New Guinea Investment Conference was held last week in Sydney, successfully showcasing the nation’s potential as an investment destination and canvassing different views from the business community about the opportunities and challenges. A clear picture of the country’s—and the Pacific region’s—great untapped potential emerged.

In brief: Tenders out for Highlands Highway upgrade, and other business stories

Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.

In brief: PanAust revises up its estimate of the Frieda River project, and other business news

Value and risk profile for Frieda River project improves, claims excess kina is resulting in more domestic investment, and corruption estimated to have cost Papua New Guinea K1.5 billion last year. Your weekly digest of the latest business news.

In brief: BCL proposes re-opening Panguna copper mine by 2020, and other business stories

BCL talks with Bougainville government and landowners about re-opening Panguna, investors confident in PNG despite low global energy prices, and improvements on the way for Jacksons Airport. Your weekly digest of the latest business news.

People moves: Paradise Foods, Bank of Papua New Guinea, KPMG, NASFUND

Managing Director of Paradise Foods steps down, Bakani re-appointed as Central Bank Governor, KPMG appoints a new Managing Partner, four new NASFUND executives.

Agility keeps NASFUND ahead in tougher investment climate says CEO Ian Tarutia

Superannuation company Nasfund continues to deliver positive returns to its members, Chief Executive Ian Tarutia tells Business Advantage PNG. But weak economic conditions in Papua New Guinea, foreign exchange restrictions and rising unemployment mean the organisation has to be agile.

People moves: NASFUND, Australian Consul-General for Lae, EMTV, NZ High Commissioner, Japan’s Ambassador leaves, Port Moresby General Hospital, Porgera Chamber of Commerce and Industry, Geopacific Resources

NASFUND’s new Chairman, Australia appoints Consul-General in Lae, EMTV loses CEO, a new NZ High Commissioner, Japan’s Ambassador leaves, new Port Moresby General Hospital CEO, inaugural chairman of Porgera Chamber of Commerce, new board member at Geopacific Resources.

Why modernising Papua New Guinea’s bond markets may help solve the foreign exchange shortage

The governor of the Bank of Papua New Guinea, Loi Bakani, says that the shortage of foreign exchange is ‘an issue based on supply and demand of foreign currency for kina.’ One way to increase demand for a nation’s currency is to modernise the bond markets. A World Bank report has looked at some options.