LNG overtakes gold as PNG’s top export, number of female executive appointments in PNG public service low and Bank of South Pacific reports profit rise. Your weekly digest of the latest business news.
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The latest business news from Papua New Guinea and the region
Although many parts of the country are returning to normal, the Papua New Guinea drought is continuing to affect both its formal and informal economies. Business Advantage PNG receives an update on the situation from agricultural expert, Dr Mike Bourke.
The launch of the country’s first master plan to develop the Small and Medium Sized Enterprise (SME) sector reflects a growing acknowledgment by Cabinet ministers that they need to grow sectors other than mining.
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.
Agriculture Minister says annual investment in agriculture is just K150 million a year, call for mining sector style tax incentives for agriculture, and Leaders’ summit critically important, says O’Neill. Your weekly digest of the latest business news.
The Chief Executive of the Papua New Guinea Forest Industries Association, Bob Tate, claims that PNG’s forestry sector is coming under increasing pressure. He points to a drop in demand from China, lower foreign capital investment and moves by the PNG government to lift industry turnover taxes.
Banks vie to renew government’s loan for shares in Oil Search, structural faults in Phase One of new Lae port, OK Tedi to resume operations next month. Your weekly roundup of the latest business news.
Work on Lae’s Huon Industrial Park has been accelerated while stage two of the Lae Port development is on track to start by mid-2016, says Stanley Alphonse, the CEO of PNG Ports Corporation.
A four-year A$ 1.7 million (K3.6 million) project has begun to map out how to revive Papua New Guinea’s dormant sea cucumber industry.
Duma to review SOEs before privatisation process, Santos reported to be selling PNG LNG stake, KCH receives study on proposed 1800MW hydro dam. Your weekly digest of the latest business news.