In the second half of his exclusive conversation with Business Advantage PNG’s Andrew Wilkins, the Prime Minister Peter O’Neill says the policies developed at the APEC Leaders meeting will have a lasting impact on the country. He says APEC marks a unique opportunity to market PNG as an investment destination.
A study by Pacific Trade Invest, the Pacific Islands Export Survey 2018, has found that 70 per cent of Pacific Island exporters expect to have an increase in orders over the next year. It found that Australia and New Zealand remain the two major markets outside the region, although there is growing interest in Asia.
The Regional Director of Digicel Pacific, Paul Statham, says the company has ‘aggressive’ plans to expand its offerings when the submarine fibre cable from Australia to Papua New Guinea is built. He says these innovations will especially benefit business.
In an interview with Business Advantage PNG’s Andrew Wilkins, the Prime Minister Peter O’Neill says he is looking for deals in LNG and mining projects that will benefit all parties. In the first of a two part series, O’Neill says his government is investing to diversify the economy.
Oil and LNG prices are showing strength but cocoa and palm oil prices price have weakened. Business Advantage PNG’s monthly review of Papua New Guinea’s commodity and financial markets.
The Asian Development Bank will start redeveloping the entire Highlands Highway simultaneously rather than doing it in sections, according to David Hill, Country Director for the ADB. He outlined the ADB’s focus on improving both physical and digital connectivity in Papua New Guinea.
Financial analysts Fitch Solutions is forecasting higher economic growth for Papua New Guinea next year. But it says the kina is overvalued, which may pose problems in the future if the the Government’s proposed sovereign bond issue is successful.
A report by consultancy McKinsey & Co. says activity in mining is strengthening globally. But it identifies nine mistakes in the downturn that should be avoided.
Port Moresby-based retailer/wholesaler Supreme Group found itself needing products and services it couldn’t source in Papua New Guinea, so it decided to create them. Group Managing Director Sanjay Shah, tells Business Advantage PNG that the group has grown quickly and is anticipating more diversification.
To get investment into Papua New Guinea businesses, sound governance is essential. That was the view expressed by super fund managers, bankers and advisers at Business Advantage’s Investment conference in Brisbane.