The latest business news from Papua New Guinea and the region
Papua New Guinea’s Minister for State Enterprises announces plans for ‘partial privatisation’ of state-owned enterprises, P’nyang negotiations between ExxonMobil and PNG could resume and company reporting season. The business news you need to kickstart your week.
Minister for State Enterprises Sasindran Muthuvel has revealed his plans to reform Papua New Guinean’s under-capitalised state utilities and telecommunications businesses. The future could involve partial privatisation, he says.
Papua New Guinea gets help from the International Monetary Fund, Minister for Petroleum explains P’nyang license and the ‘Whistleblower Act’ passes unanimously. The news you need to kickstart your week.
Westpac Bank’s Senior Economist Justin Smirk identifies five key highlights from Business Advantage’s PNG 100 CEO Survey of chief executives in the country’s biggest companies.
Strata titles are the start of a wide-ranging agenda of land reforms to help Papua New Guineans access the value of their land.
Figures on visitor arrivals to Papua New Guinea indicate that business travel and tourism are growing but there has been a falling interest the MICE market. The number of people coming to PNG for employment increased markedly.
Wafi-Golpu Joint Venture partners receive ‘green light’ to engage in discussions with the State of Papua New Guinea, petroleum licences owe over K10 million and Gerehu to NiuPower gas plant transmission lines completed. The business news you need to kick-start your week.
A new World Bank report details a worsening of Papua New Guinea’s economic prospects and finances. It says that the country is ‘steadily’ losing foreign exchange.
The court deadlock over the Wafi-Golpu project has ended with the National Court in Lae throwing out the injunction relating to the Memorandum of Understanding (MOU) that had brought the project to a halt. It opens the door for a potential US$5.4 billion (K18 billion) investment into Papua New Guinea.
The World Bank predicts slower GDP growth for Papua New Guinea, P’nyang could still be on the table and fibre optic cable landing to start in Vanimo. The business news you need to kick-start your week.