Latest news

The Government’s Mid-year Economic and Fiscal Outlook (MYEFO) statement has indicated that it is in the ‘advanced stages’ of negotiating the country’s first sovereign bond later this year. The strategy is being adopted to solve the nation’s foreign exchange shortages, but it does carry risks.

Milne Bay’s Woodlark Gold Project is likely to get the go ahead within the next three months, after developer Geopacific Resources assesses the definitive feasibility study which will be completed in Q3 this year. Managing Director, Ron Heeks, told Business Advantage PNG, if it goes ahead, production should commence in early 2020.

Companies are reducing the size of the businesses, now using excess capital to acquire domestically but may be switching to starting up operations next year. They were some of the observations in a round table discussion on Papua New Guinea’s investment environment at the Business Advantage Invest Forum in Brisbane.

PNG Biomass will reach a final investment decision in the fourth quarter of 2018 for its proposed power plant located in the Markham Valley, Project Director Michael Henson tells Business Advantage PNG.

The co-founder of Port Moresby based software company Crysan, Crystal Krewe said a partnership with Google, the APEC Secretariats in PNG and Singapore, and the San Francisco-based Asia Foundation will aim to sell bilums on-line. Called the Digital Bilum Project, the aim will be to create an international presence.

A PPP agricultural venture mooted for Hela Province, first rice harvest from Morobe farm, and Rami Nicu leading the industry in red laterite development. Your weekly digest of the latest news.

In a slow economy getting jobs in the formal sector can prove difficult. But Rohan Fox, a Researcher at the Australian National University’s Crawford Policy Centre, says his research suggests that graduates of the University of Papua New Guinea do find employment.

Mid-year economic and fiscal outlook released, pursuing certification of tuna fishing, and polio certificates required for international travel. Your weekly digest of the latest business news.

PNG Power is aiming to cut tariffs by half and electrify 70 per cent of the country in the next five to 10 years according to Acting Managing Director Carolyn Blacklock. But to achieve those goals the organisation will require a new ‘business model’ she says.

The two days before the APEC Leaders meeting have been declared national holidays in the National Capital District in Port Moresby, according to Chris Hawkins, the Chief Executive Officer of APEC Papua New Guinea. He told an APEC summit briefing that Papua New Guinea has advantages when it comes to hosting the big event.