A change of government, two budgets, new infrastructure, stalled resources projects – these are just some of the features of the year in business in Papua New Guinea. Here’s how Business Advantage PNG reported on 2019.
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The latest business news from Papua New Guinea and the region
Rising, quite literally, from the ashes of a devastating fire in 2017, retailer CPL Group is back in the black. However, CEO Mahesh Patel tells Business Advantage PNG that rogue retailers and slow government spending have presented challenges to the retailer’s phoenix story.
Kina Bank’s operations have expanded dramatically after taking over ANZ’s retail operations in Papua New Guinea. In an exclusive interview, Chief Executive Officer Greg Pawson outlines to Business Advantage PNG its plans for growth. David James reports.
Kina and the Asian Development Bank join forces, the Bank of Papua New Guinea launches its ‘regulatory sandpit’, and PNG’s first rooftop solar power trial begins. This is your weekly digest of business news.
Treasurer Ian Ling-Stuckey announces a deal with the Bank of Papua New Guinea to improve the availability of forex in the country, the Australian Government and the International Monetary Fund pledge to help PNG in its medium term revenue strategy, and Lihir Gold Mining Limited to pay K54 million directly to landowners. Your weekly digest of business news.
The Papua New Guinea Government has tabled its 2020 Budget, forecasting a big deficit designed to stimulate growth in the non-resources sector of the economy.
Papua New Guinea is set to introduce new rules for petroleum licenses, according to Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk. In this exclusive interview, he tells Business Advantage PNG the state-owned oil and gas company is about to undergo a transformational change.
Oil and palm oil prices have strengthened but LNG continues to fall. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
Papua New Guinea’s tax agency, the Internal Revenue Commission (IRC), has announced a tax amnesty to encourage the payment of taxes. In this exclusive interview with Business Advantage PNG, Acting Tax Commissioner Sam Koim reveals the IRC’s plans to boost tax compliance.
Minister expresses disappointment over P’nyang negotiations, companies owe about K1.8 billion in salaries and wages to the Internal Revenue Commission, and Australia is set to provide over K1 billion loan to PNG. Your weekly digest of business news.