Kina expected to weaken, Total aims for transparency, and Air Niugini defers planned flights to Shanghai. A weekly digest of the latest business news.
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Following the successful launch of Papua New Guinea’s first sovereign bond, the International Finance Corporation is intending to issue a AAA bond as part of its efforts to deepen the financial markets in Papua New Guinea. John Vivian, IFC’s Resident Representative for Papua New Guinea, tells Business Advantage PNG that it can also assist corporate funding.
In a little over three weeks, Papua New Guinea will host the annual APEC Economic Leaders Meeting, when 21 world leaders and 10,000 delegates including 2,000 media organisations arrive in Port Moresby. The Director-General of the APEC 2018 Coordinating Authority, Sir Charles Lepani, tells Business Advantage PNG he is confident of a lasting legacy.
The Papua New Guinea government is planning to sharply increase its economic stimulus, according to the Medium Term Development Plan III. It envisions a ‘strategic shift’ in Budget allocations.
Papua New Guinea has significant opportunities for employment and foreign exchange from its fisheries, but only if it can develop the necessary policies and infrastructure. That was the conclusion from meetings of the APEC Business Advisory Council (ABAC).
Board resignation
Visa suspensions to hit tourism, rice imports slammed, and a coal power plant proposed for Lae. Your weekly digest of the latest business news.
The forestry sector is keeping a close eye on the US-China trade war, which has created uncertainty in the market, according to Bob Tate, Executive Director of the Papua New Guinea Forestry Industry Association. He told Business Advantage PNG China remains PNG’s dominant export market.
Papua New Guinea could create attract significant investments and derive large revenues from a free trade zone, according to Tony Restall, President consultancy Development Services International. He says the necessary legislation is already in place.
An appointment at Axiom Mining