The Mineral Resources Development Company (MRDC) was formed in 1975 and is as old as Papua New Guinea itself. Chief Executive Augustine Mano tells Business Advantage PNG that the enterprise has a wide mandate.
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Software entrepreneur Samson Korawali has helped establish five start-ups and a digital consultancy located in Australia and Papua New Guinea. He tells Business Advantage PNG that the country can greatly benefit from developing its online business capacity.
The Bank of Papua New Guinea’s latest Quarterly Economic Bulletin points to a ‘slight improvement’ in economic activity in the September quarter driven by higher government expenditure and a marginal increase in private sector lending. It records an improvement in exports and commodity prices and a slowing in the increase of inflation, but lower employment levels.
Private-public partnerships are the best way for Papua New Guinea to deal with its health needs, Sandeep Shaligram, Chief Executive of Pacific International Hospital tells Business Advantage PNG. He says the hospital is looking to train locals and start a nursing college.
Oil prices are up and copper is also strong, but LNG has weakened. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
House prices still remain out of reach for most Port Moresby residents, according to a report by the National Research Institute. It says that changing the approach to customary land has become necessary because state land is running out.
Business Advantage PNG’s PNG 100 CEO Survey of chief executives in Papua New Guinea’s biggest companies has found that profit expectations were only partly met last year, but there are signs of growing confidence in 2018.
Papua New Guinea technology company Datec is developing a ‘winning’ culture, according to Chief Executive Stanley Ng Plyler. He tells Business Advantage PNG that the company is looking to achieve both tangible and intangible improvements.
The establishment of a Sovereign Wealth Fund (SWF) in Papua New Guinea is likely to take more than a year, according to Zanie Theron, Managing Partner of professional services firm KPMG, which is advising the government. She tells Business Advantage PNG that, although there are challenges, positive signs can be observed in the business environment.
Greg Pawson, the newly appointed Chief Executive of Kina Securities, has said that the world economy is showing signs of recovery, which will have a positive effect on the economy. But he believes that Papua New Guinea still faces big structural challenges.