Port Moresby Chamber applauds development of Northern Australia, Papua New Guinea well-placed on global LNG stage, and SP Brewery launches new brew. Your weekly digest of the latest business news.
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Ramu Agri GM moves to Sime Darby, and Autonomous Bougainville Government appoints Ministers.
Ordinary Papua New Guineans will be able to apply to purchase at least some of 97 million shares in PNG-based financial services company Kina Securities. The company has just launched its prospectus, ahead of an expected listing on both the Port Moresby and Australian stock exchanges on 30 July.
Papua New Guinean tourism operators flew the flag in Australia last weekend at the South Pacific Tourism Exchange at Melbourne’s Convention and Exhibition Centre. Robert Upe reports visitor arrivals are expected to rise, due in part to cruise ships improving tourists’ perceptions of PNG.
Kina Group appoints a new Director and the government names new members of PNG Asia Pacific Economic Co-operation Business Advisory Council, and a new board member for InterOil.
Four new Knighthoods are among a total of 91 Papua New Guineans recognised by the Queen in this year’s Queen’s Birthday Honours list.
O’Neill wants PNG to take advantage of global business opportunities, Australia provides additional development funds, and Air Niugini outsources Lihir airport services. Your weekly digest of the latest business news.
For the last six years, officials from 14 member countries of the Pacific Islands Forum have been negotiating with Australia and New Zealand to set up a free trade agreement, known as PACER-Plus. The Pacific’s Chief Trade Adviser on PACER-Plus is Ghanian-born Australian, Dr Edwini Kessie, who tells Business Advantage PNG that labour mobility and the future of development assistance are two key stumbling blocks.
An analysis of foreign workers coming to Papua New Guinea since 2000 indicates a chronic lack of skilled tradespeople, according to Lae-based business leaders. While skills training initiatives are under way, an expected surge in mining projects over the next few years highlights the urgency for more skilled workers.
Papua New Guinea’s Kina Group aims to list on the Australian Stock Exchange in late July—arguably the first PNG company to undertake such a move. Business Advantage PNG talks to Chief Executive Officer, Syd Yates, about what he sees as a ‘great opportunity’ for PNG.