News

In brief: MYEFO released, and other business news

Mid-year economic and fiscal outlook released, pursuing certification of tuna fishing, and polio certificates required for international travel. Your weekly digest of the latest business news.
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Public holidays declared in Port Moresby due to APEC summit, says CEO

The two days before the APEC Leaders meeting have been declared national holidays in the National Capital District in Port Moresby, according to Chris Hawkins, the Chief Executive Officer of APEC Papua New Guinea. He told an APEC summit briefing that Papua New Guinea has advantages when it comes to hosting the big event.
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Papua New Guinea LNG production predicted to double within 10 years, reports Fitch Research

Papua New Guinea’s LNG exports will more than double over the next 10 years, as a result of the planned expansion works, according to Fitch Solutions’ Senior Country Risk Analyst, Raphael Mok. But, he tells Business Advantage PNG, the government must address landowners’ backlash against royalty payments.
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Moving from aid to trade: successful mentoring and investment projects in Vanuatu and Samoa expanding into Papua New Guinea

After the successful launches of sustainable small businesses in Vanuatu and Samoa, a donor-funded private sector initiative is preparing to expand into Papua New Guinea.  Anna Moegerlein from Melbourne’s The Difference Incubator explains the initiative to Business Advantage PNG.
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In brief: APEC means two new public holidays likely, and other business stories

Mooted public holidays during APEC, Budget support loans from the ADB and World Bank coming, and a new focus on monetising the okari nut. Your weekly digest of the latest business news. The National Executive Council will be discussing proposed public holidays on November 15 and 16 in Port Moresby to cater for the movements […]
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Higher commodity prices are boosting Papua New Guinea’s economy, says ADB economist

The Papua New Guinea economy is set to grow steadily, according to Edward Faber, Country Economist for the Asian Development Bank (ADB). He told the Business Advantage PNG Investment Conference in Brisbane that the fate of the economy heavily depends on export prices.
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Prime Minister gives upbeat take on Papua New Guinea’s economy

The Prime Minister, Peter O’Neill, speaking at Business Advantage
 Papua New Guinea Investment Conference in Brisbane, said the mid-year assessment of the economy was better than anticipated. He said the growing investment interest in the Pacific from China, Australia and the United States is ‘healthy’.
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