Bank South Pacific purchased the National Bank of the Solomon Islands 10 years ago this year. David Anderson, BSP’s country manager in the Solomon Islands, shares a 2017 overview of the country’s economy with Business Advantage PNG.
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Zarak Khan is Fiji’s Consul General and Trade Commissioner at the Fiji Consulate and Trade Commission in Sydney. He tells Business Advantage PNG that Fiji is looking to diversify its industry base.
Papua New Guinea’s fishing industry faces fierce competition from Thailand and the Philippines, says Pete Celso, Managing Director of R D Tuna Canneries in Lae. He believes a lack of control over imports is harming the local industry.
The APEC meeting in 2018 in Port Moresby will be a major boost for the country, David Toua, the President of the Business Council of PNG (BCPNG), tells Business Advantage PNG. Analysts say in the past benefits have been shown to outweigh the costs.
After 20 years building a successful transport company, Mapai Transport founder Jacob Luke is exploring ways to correct PNG’s trade imbalance with NZ, and providing training opportunities for young Papua New Guineans.
Climate change is the ‘single greatest threat to the livelihoods, security and wellbeing of the peoples of the Pacific’, according to the Pacific Islands Forum Secretariat (PIFS). But the region is showing leadership and there are opportunities for Papua New Guinea to gain access to climate finance.
E-commerce, empowering women in business and anti-dumping measures were highlights of last month’s APEC Business Advisory Council (ABAC) meeting in Port Moresby. Business Advantage PNG asked Douveri Henao, Lead Staffer for ABAC, for his response to the meeting.
Papua New Guinea’s first LNG project has transformed the country’s exporting landscape, with Japan overtaking Australia as its number one trading partner. China will also become a major source of funds, taking over from Australia and global lending agencies. But don’t expect the broader bilateral relationships to change quickly.
Thirty-six executives from major Chinese energy, forestry, fisheries, tourism and construction businesses are in PNG this week to look for investment and development opportunities. Pacific Trade Commissioner David Morris is leading the delegation.
The current rise in the US dollar is likely to flatten in 2016, offering respite to Pacific curencies, according to ANZ economists, Glenn Maguire and Eugin Lee.