The prospects for the prices of metals Papua New Guinea exports are mostly positive, reports David James from the recent International Mining and Resources Conference.
Economy & Investment
JMP Securities has acquired Bank South Pacific’s stockbroking business in Papua New Guinea. Co-founder and Managing Director Lars Mortensen tells Business Advantage PNG he sees great opportunity for growth.
Papua New Guinea’s tourism, manufacturing, retail and agriculture should be the main targets for further government support, contends Douveri Henao, Executive Director of the Business Council of Papua New Guinea. He also reveals the sectors that had received the biggest boost during the COVID-19 crisis.
The global economy is recovering faster that expected, according to Douglas Porter, Chief Economist and Managing Director of Canadian investment bank, BMO Financial Group.
The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.
Papua New Guinea is increasing its debt by less than other nearby nations and the contraction of its economy is not expected to be as severe as the world average, says a Kina Bank report.
Papua New Guinea should seek to attract more foreign investment in the wake of the COVID-19 crisis. But many of its policies are going in the opposite direction, according to Paul Barker, Executive Director of the Institute of National Affairs.
LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.
The COVID-19 pandemic in Papua New Guinea has presented a unique set of challenges to business leaders and owners of all kinds. The heads of three of the country’s top companies have discussed their leadership approaches during a special Business Advantage PNG online business briefing.
Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.