Last month, Agriculture Minister, Tommy Tomscoll, told rice companies to start investing and producing rice in country. But, as the CEO of the country’s dominant producer tells Business Advantage PNG, Trukai has already committed to invest tens of millions of kina in plantations.
Falling commodity prices and rating outlook drop prompts Budget review, O’Neill supports Madang marine zone and new police chief to boost numbers in Port Moresby. Your weekly digest of the latest business news.
A recent online survey to identify Papua New Guinea’s most recognisable brands suggests that traditional marketing techniques still hold sway in PNG. But for how much longer?
In brief: Newcrest output at Lihir ‘below expectations’ despite improvement, and other business stories
Production issues hit Newcrest, Digicel launches cloud-based product, and Mitsui delivers PNG LNG carrier. Your weekly digest of the latest business news.
Prime Minister Peter O’Neill refuses to step aside after corruption claims, courts approve UBS loan repayments and Papua New Guinea’s financial system is worth nearly K40 billion. Your weekly digest of the latest business news.
O’Neill defends loan to buy into Oil Search, economy vulnerable unless security boosted, Manus Detention Centre focus of Abbott/O’Neill talks. Your weekly digest of the latest business news.
There is no question that Papua New Guinea’s manufacturers-which account for about 9% of the country’s GDP – have been caught up in the general downturn in the country’s economy, with a combination of lower investment in the mining and petroleum sectors, lower commodity prices and a stronger currency slowing growth and reducing domestic demand.
Cheap imports into Papua New Guinea are posing an increasing threat to local producers, with reports of foreign companies ‘dumping’ goods in PNG or under-declaring the value of imports.