A fifteen-year plan to develop the Ihu Special Economic Zone is expected to be approved this month. Driving its development will be the infrastructure requirements for Papua New Guinea’s second liquefied natural gas project—Papua LNG.
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The latest business news from Papua New Guinea and the region
Oil prices have been strong, but LNG prices have weakened sharply. Oil palm and coffee prices have fallen, but cocoa prices are steady. Business Advantage PNG’s monthly overview of commodity and financial markets.
The Papua New Guinea’s Petroleum Minister has said he will put forward a bill on the proposed National Petroleum Authority and Bougainville receives an extra $US700,000 to support its referendum. Your weekly digest of the latest business news.
Business Advantage’s PNG 100 CEO Survey of chief executives in Papua New Guinea’s biggest companies found that last year’s profit expectations were ‘broadly met’ and that business leaders remain positive and confident in 2019.
Massive growth in participation has forced the Papau New Guinea Government to come up with new strategies for the finance sector and financial inclusion. Business Advantage PNG’s David James reviews the strategies and finds a greatly enhanced role for the central bank.
Collaboration between Papua New Guinea’s Petroleum and Energy Sector will be the theme of the third CWC Papua New Guinea Petroleum and Energy Summit. The event will feature updates and discussions on expansion opportunities in the country’s energy sector.
Papua New Guinea’s Prime Minister has announced a US$13 million airport in Mendi and Moody’s has changed the country’s issuer ratings from negative to stable. Your weekly digest of the latest business news.
With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.
New World Bank report predicts 5% GDP growth for Papua New Guinea in 2019, consumer protection in financial services, and Bloomberg puts a value on Panguna mine. Your weekly digest of the latest business news.
The US$8 billion (K26.5 billion) Sepik Development Project at Frieda River will create ‘a new economic corridor’ in PNG’s northwest. Developer PanAust is suggesting it could give employment to about 5000 people during construction and increase Papua New Guinea’s GDP by K90 billion over 40 years.