2013 was a mixed year for PNG stocks. The Kina Securities Index fell by 14.9% over the year, but was largely influenced by the massive fall in value of the dual-listed Newcrest Mining, the largest company on the Port Moresby Stock Exchange (POMSoX). The Kina Securities Home Index, which excludes overseas stocks, fell only 2%.
The new Chief Executive Officer of Papua New Guinea’s largest superannuation fund has hit the ground running. Business Advantage PNG met up with Garry Tunstall to discover his plans for Nambawan Super.
Government ministers and influential economic analysts have welcomed the recent fall in the value of the kina, saying it will boost demand for exports.
The great untapped investment area in Papua New Guinea is infrastructure, according to Syd Yates, Executive Director of investment fund Kina Asset Management Limited (KAML).
Recent government communications with Fiji Television Ltd, owner of Papua New Guinea’s national television broadcaster EMTV, indicates the PNG Government is considering new laws to restrict foreign ownership of PNG’s media.
The sharp fall of Papua New Guinea’s currency, the kina, over the past few months is a cause for concern, with Manufacturers Council of PNG CEO Chey Scovell describing it as a ‘real kick in the guts’ for local manufacturers.
Expanding the small business sector, managing urbanisation and developing modern communications were the PNG Government’s three priority areas, Prime Minister Peter O’Neill said last week.
The annual Papua New Guinea Advantage investment summit was held this week in Port Moresby. After two days of discussions, presentations, speeches, dinners and question-and-answer sessions, here are five observations.
The third edition of The PNG Investors’ Manual, a publication designed to help companies do business in Papua New Guinea, was launched on Monday by Papua New Guinea’s Prime Minister, Peter O’Neill.
Papua New Guinea’s Prime Minister Peter O’Neill will open the country’s annual investment conference in Port Moresby next Monday.