The past year has been a challenging one for Papua New Guinea’s major businesses but, as we are learning from our own conversations with them, they are nevertheless proving remarkably resilient. Now, all eyes are again focused on the next wave of resources investments.
Looking back over the history of resources development in Papua New Guinea, the need for patience and persistence is clear.
Forex shortages in PNG have acted as handbrake on both economic growth and foreign direct investment over the past decade, according to the IMF. However, domestic and concessional investors have been stepping in to keep PNG’s economy moving.
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