The Asian Development Bank’s departing Papua New Guinea economist, Aaron Batten, says agriculture is the big winner with the current downturn in commodity prices, while its Country Director Marcelo Minc flags further bank investment in PNG.
Economy & Investment
As Papua New Guinea enters 2015, changes in the global economy are likely to present major challenges, while local investment in infrastructure continues. Business Advantage PNG looks ahead to consider what 2015 may bring business.
Pacific leaders have been the recipients of largesse from India’s Prime Minister and China’s President, who met in Fiji last week. Meanwhile, a new ANZ report details the increasingly close links between China’s aid and its investment in the Pacific.
Next month’s Mining and Petroleum Investment Conference in Sydney will take a critical look at how the industry can build on recent successful ventures in Papua New Guinea, as it deals with the global downturn.
The successful completion of the PNG LNG project has turned the focus onto where new investment opportunities lie. Senior representatives from the IFC, Austrade and Nambawan Super got together at the recent Papua New Guinea Advantage Investment Summit to share their thoughts.
Air Niugini and PNG Ports for partial sale: Papua New Guinea zeros in on its state-owned enterprises
First Air Niugini, then PNG Power … then PNG Ports and the National Airports Corporation? The Papua New Guinea government is embarking on a grand plan to reinvigorate state-owned enterprises. But privatisation is not the only option to ensure SOEs function as viable entities.
Foreign investment in the Fiji economy is expected to return, following the first democratic election since the 2006 coup. Tourism, infrastructure and natural resources are three sectors expected to benefit, but economists and business leaders say that will depend on political and policy stability, as Kevin McQuillan reports.
The Papua New Guinea Advantage Investment and Infrastructure Summit was held in Port Moresby this week. Over two days, delegates heard about Port Moresby becoming ‘the Dubai of the Pacific’, tax incentives in the 2015 Budget and how to develop relationships with Chinese business. Here are some highlights.
After years of relationship building, the BRICS nations-Brazil, Russia, India, China and South Africa-are setting up their investment bank. It’s a milestone for this strange mix of economies, but offers Pacific nations access to investment capital, says BRICS expert, David Thomas.
September’s Papua New Guinea Advantage Investment and Infrastructure Summit looks like being the largest ever, with delegate registrations up and a very strong roster of high profile speakers, say organisers.