In spite of the challenges, Papua New Guinea’s second city, Lae, is experienced some significant new investments. Business Advantage PNG sits down with John Byrne, President of the Lae Chamber of Commerce, to discuss the state of play in the country’s “engine room”.
PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement.
As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of Papua New Guinea business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us.
The 2024 results of Papua New Guinea’s annual business confidence survey, the PNG 100 CEO Survey, are out. What have PNG’s leading companies told us about their profit, investment and recruitment expectations – and the major impediments they face?
A year ago, the International Monetary Fund commenced a program in Papua New Guinea, focused on improving government debt, foreign exchange shortages and governance. Business Advantage PNG sits down with the IMF’s Resident Representative in PNG, Sohrab Rafiq, to discuss progress on these three critical issues.
Fuel buyers in Papua New Guinea have been warned to expect higher prices as the government negotiates with global suppliers to end shortages in the local market related to the winding back of Puma Energy’s operations in the country. Meanwhile, short-term solutions are being put in place.
James Marape, PNG’s Prime Minister, speaks exclusively about PNG’s next decade of economic growth, which he describes as potentially the most exciting in the nation’s history.
Chairman of the Bank of PNG, David Toua, talks exclusively about reforms to the central bank, the foreign exchange situation, interest rates and the phasing out of bank cheques.
Papua LNG, forex and law and order. Business Advantage PNG looks to the year ahead and considers what Papua New Guinea-focused businesses can expect in the coming 12 months.
An eight per cent increase in government spending and a five percent real GDP growth rate are two of the key predictions Papua New Guinea’s 2024 National Budget, announced by Treasurer Ian Ling-Stuckey in Parliament this week. So, what’s in the budget for business?