September was another tough month for availability of foreign exchange in Papua New Guinea, but central bank Acting Governor Elizabeth Genia has moved to reassure business that the bank is committed to supporting the kina as it adjusts to a lower level against the US dollar. She’s also flagging better times ahead on forex.
Mt Hagen, Papua New Guinea’s third-largest city and the centre of the country’s populous Highlands Region, is once again starting to receive attention from investors. Business Advantage PNG discovers why.
Some key Papua New Guinea state assets, including the site of Port Moresby’s old port, are being readied for redevelopment, with private sector investment being sought. The move is being guided by a new investment strategy from state holding company, Kumul Consolidated Holdings.
The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
Trade commissioners in overseas posts and a new online portal for exporters are among the measures being undertaken to try to increase Papua New Guinea’s international trade.
With the worst of the COVID pandemic behind it, Papua New Guinea is preparing itself for a decade of sustained economic growth. While the investments that will drive this growth are still being finalised, business leaders tell Business Advantage PNG the country is already starting to get ready.
The Business Advantage PNG/Westpac PNG 100 CEO Survey has asked the CEOs of Papua New Guinea’s largest companies for their profit, investment and recruitment expectations for 2023. It also asked them to name the top impediments facing their businesses. Here are the results.
Proposed amendments to the laws governing Papua New Guinea’s capital markets aim to open up the market to more ways of raising capital and strengthen governance in the sector.
One of Papua New Guinea’s major trading partners, Australia has continued to increase its support for the country’s economic development, especially in infrastructure. Business Advantage PNG asks Jon Philp, Australia’s High Commissioner to PNG, about the intent of Australia’s aid program in PNG and its priorities.
Business Advantage PNG looks to the year ahead and considers what Papua New Guinea-focused businesses can expect in the coming 12 months.