Papua New Guinea business is set to receive a major boost from supplying the Pacific Games 2015, as Games CEO Peter Stewart explains.
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Tough market conditions have led to a sudden shake-up in South Pacific shipping, with Auckland-based Reef Shipping going bankrupt and being acquired by Hawaii-based Matson
The hand-picked Chairman of Fiji’s Constitution Commission, Kenyan-born barrister Yash Ghai, fell foul of Fiji’s military government for printing 600 copies of the country’s newly-completed draft constitution. These were confiscated and set on fire in front of him by police before the ink had dried.
Business Advantage PNG spoke with the region’s three most senior bankers to get their thoughts on the year ahead.
If foreign investors have generally been wary of investing in Fiji since the 2006 coup, Papua New Guinea has been the exception.
Papua New Guinea is expected to remain the standout economy in the Pacific over the coming year, with its success having a knock-on effect on neighbouring Solomon Islands. Business Advantage summarises the outlook for the region’s larger economies.
While Solomon Islands lies in the mineral-rich Pacific Ring of Fire, its mining sector has yet to mirror the success of Papua New Guinea, the region’s minerals powerhouse. But the obstacles are being removed.
Papua New Guinea firms are playing a key role in the Solomon Islands as investment floods in.
Less than a decade after its economy lay in ruins, the Solomon Islands is in remarkably good shape.