The Papua New Guinea kina is starting to experience a very gradual erosion against its key trading currency, the US dollar.
Economy & Investment
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.
The first National Budget of the returned Marape Government predicts record government revenues and expenditure in 2023, with significant increases in spending on infrastructure, law and order, education and health.
With key Pacific economies such as Fiji and the Solomon Islands now opened up after COVID, what opportunities do they offer Papua New Guinea-based businesses, and what are the keys to success? Some experts provide their insights.
The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.