The Prime Minister Peter O’Neill has announced that Heads of Agreements will be signed for the Wafi-Golpu mine and Papua LNG project, to coincide with the APEC Leaders Week. In a pep to talk to business last week, he emphasised the benefits of hosting APEC 2018.
Oil Search’s strong result, PNG Power promises, and a loan agreement for Crater Gold Mining. Your weekly digest of the latest business news.
New Minister for Economic Development, board changes at FinCorp.
Oil and LNG prices have shown weakness but coffee is up. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Papua New Guinea’s Treasurer Charles Abel says Papua New Guinea needs to take a staged approach to integration with the global economy in order to avoid being taken advantage of. Speaking at an APEC discussion forum at the University of PNG, he said recent experience suggests the nation’s foreign exchange markets may be too open.
Papua New Guinea’s Coffee Industry Corporation is working on a new 10-year strategy. Steven Tumae, General Manager of Industry and Operations at the CIC tells Business Advantage PNG that the new strategy is necessary to address problems in what is a deteriorating industry sector.
The Coral Seas Cable System—the undersea fibreoptic cable to be laid between Sydney and Port Moresby, and then to the Solomon Islands—will transform telecommunications in the two Pacific countries. Here we answer 10 key questions about this keenly anticipated project.
New MDs at Air Niugini and Kumul Telikom, a board change at Highlands Pacific.
New Britain Palm Oil has turned its philosophy of sustainable production into profits, according to Ian Orrell, Group Head of Sustainability. Speaking at the Business Advantage PNG Investment Conference in Brisbane, he warned of the need to improve the palm oil industry’s global reputation.
The development of micro and small and medium sized businesses (MSMEs) in Papua New Guinea requires innovation, cheaper internet access, embracing a digital economy and creating hubs for sharing ideas, entrepreneurs told an APEC discussion forum in Lae. They say without these elements the government’s goal of creating 500,000 SMEs by 2030 will not happen.