The latest business news from Papua New Guinea and the region
The Prime Minister Peter O’Neill has signed the Papua New Guinea Electrification Partnership with Australia, Japan, the United States and New Zealand, whose aim is to provide power to 70 per cent of the country’s population by 2030. Currently, only 13 per cent of PNG’s population has reliable access to electricity.
Russia plans to open an embassy in Port Moresby, the Australian Prime Minister announces relaxed visa rules for Pacific nations, and Crystal Kewe, the young app developer, wins a major APEC award.
The Prime Minister Peter O’Neill gave an upbeat take on the Papua New Guinea economy when opening the APEC CEO Summit. He pointed to the need for consistent trade rules, strong engagement with civil society and the community, and a focus on the opportunities offered by the digital economy.
Business Advantage PNG’s coverage of 2018 APEC CEO Summit in Port Moresby, Papua New Guinea, held from 15 to 17 November.
The eyes of the world’s media are on Papua New Guinea as delegates arrive in Port Moresby for APEC Leaders Week. Here’s a overview of how the country and the event has been covered by the world’s press this week.
The Treasurer, Charles Abel, has handed down the 2019 Budget, revealing a 12 per cent jump in revenues and a 9 per cent jump in expenditures. He announced changes to the income tax threshold, and an increase in capital expenditure.
All eyes this week are on Port Moresby in general and the capital’s new Hilton Hotel in particular. Business Advantage PNG takes a look at the site that will host the APEC Leaders’ Gala Dinner and Cultural Performance.
Treasurer Charles Abel puts APEC cost between K900-K1 billion, feasibility plans for five ports, export licences for bech-de-mer likely to be slashed. Your weekly digest of the latest business news.
The Australian Government has announced plans to set up an infrastructure bank as part of a A$3 billion suite of measures aimed at countering China’s influence in the southwest Pacific and lifting its own engagement in the region. Regional analysts say the funds need to go to Micro, Small to Medium Enterprises (MSMEs), as well as SMEs, and for small projects in remote areas.
The final two events of Papua New Guinea’s APEC-hosting year are fast approaching. The APEC Leaders Meeting and CEO Summit will be the highlights of APEC Leaders Week, to take place from 12 to 18 November and thousands of delegates will be coming to Port Moresby from all over the APEC region. Here’s what to expect.