Major infrastructure upgrades, visits to Papua New Guinea’s region, and increased efforts to liberalise trade across the region are part of this year’s APEC Leaders’ Meeting in Port Moresby. Officials claim that the nation will be well prepared to benefit from hosting the event.
The proposed Wafi Golpu mine will contribute to the diversification of Papua New Guinea’s economy, according to Craig Jones, Executive General Manager Wafi Golpu at Newcrest Mining. He told the Australia Papua New Guinea Business Forum in Brisbane that, if the project gets the go-ahead, it will help local agriculture.
The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.
Papua New Guinea offers some unique tourism options, according to Bob Bates, owner of Trans Niugini Tours. But he says it has some distinct challenges as well.
Oil Search acknowledges problems with payouts, Frabelle denies shut down and the ICCC starts legal proceedings against Steamships. Your weekly digest of the latest business news.
Pacific Islands News Association
Papua New Guinea agribusiness Mainland Holdings is launching into new agricultural sectors to reduce its reliance on imports. Chief Executive David Alcock told the Australia Papua New Guinea Business Forum that the company intends to grow sorghum and soya beans to use as stockfeed in partnership with local farmers.
Vertical integration is the key to growth in Papua New Guinea, according to Hornibrook NGI Managing Director Matthew Lewis. He tells Business Advantage PNG the steel fabrication and construction company is leveraging its in-house capacity to diversify into property and hospitality.
Papua New Guinea is on the verge of a resources boom, according to Kishti Sen, International Economist for the ANZ Banking Group. He told the recent Australia–Papua New Guinea Business Forum that the challenge is to manage the economic cycles.
Pacific Islands need to look for Pacific solutions to global warming, according to Meg Taylor DBE, Secretary General of the Pacific Islands Forum Secretariat. The aim should be resilience.