The Papua New Guinea economy is unlikely to rebound strongly before 2020, according to a report by the World Bank. It forecasts steady, but unspectacular, growth.
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While finance or access to capital is an issue for young entrepreneurs, you can build a business with little to no capital, says Roberta Morlin, founder and co-owner of KLM Consulting, which provides marketing research and technology consulting. But financial literacy is the key, adds Melbourne consultant, David Martin.
The next health care challenge for Papua New Guinea authorities are the afflictions of modern society, says Myles Neri, Group Medical Director of International SOS. They include heart disease, stroke and cancer.
National airline Air Niugini is helping establish Jacksons International Airport as a regional hub, according to the company’s Chairman, Sir Frederick Reiher. He told the Business Advantage Papua New Guinea Investment Conference that the choice of new routes to China were made with that strategy in mind.
BSP wants another US$100-200m foreign exchange injection, Air Niugini expects local business benefits from Rugby League games, and gold refinery to expand. Your weekly digest of the latest business news.
The National Government has issued a Supplementary Budget to deal with the fiscal and economic issues facing Papua New Guinea. Economic commentators tell Business Advantage PNG that it is a tough budget, but flag that more measures may be needed.
Leading financiers have called for better international marketing of the country’s financial system and assets. They told the Business Advantage Papua New Guinea Investment Conference, that it is an important step towards creating more mature financial markets.
Philippines port operator wins 25-year contract to run key ports, Westpac MD outlines reasons for foreign currency backlog, and domestic gas clause to be part of new LNG projects. Your weekly digest of the latest business news.
A new MD at Kumul Consolidated Holdings, Digicel appoints a new CEO, senior K92 Mining appointments, MD of Capital Insurance Group resigns, a director of Nautilus Minerals resigns and a new executive at the Association of Foresters of PNG
With its longstanding dispute with Australia over the Timor Sea resolved, neighbouring Timor-Leste looks set to expand its petroleum and mineral industries. Meanwhile, its government is actively seeking investors in agriculture and fisheries, tourism and services, according to Abel Guterres, Timor-Leste Ambassador to Australia.