The latest business news from Papua New Guinea and the region
Demand from the Asian region for natural gas will ensure that Papua New Guinea’s LNG industry remains robust in the medium term, David Lennox, xxz tells Business Advantage PNG. He says growing tensions about trade barriers may be beneficial for the country.
Research by the Fraser Institute shows that Papua New Guinea rates ahead of several Australian states for attractiveness for mining investment. Gavin Wendt, Founding Director of resource analyst Minelife, says statements from Kumul Mineral Holdings’ Chairman Peter Graham that it will invest in upcoming projects are also a positive for foreign investors.
Copper has weakened, but oil and gas prices are showing strength. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
A second major port in Papua New Guinea is expected to be completed in late 2019, says PNG Ports Corporation Managing Director, Stanley Alphonse. He tells Business Advantage PNG the K350 million project will include the greater Lae Tidal Basin Project and the Huon Industrial Park development in Lae.
Government to seek more revenue from fishing, three provinces to be granted autonomous status and the Government claims the right to acquire land for the Highlands Highway construction work. Your weekly digest of the latest business news.
Many businesses in Papua New Guinea are using the slow economic conditions to upgrade their computer systems, according to Steve Hillyard, General Manager in PNG for Pronto Software. He tells Business Advantage PNG that there is a reluctance to use cloud computing, however, due to network infrastructure reliability.
Granting more land titles over plantation smallholdings and National Housing Corporation housing stock, and freeing up land locked up in over 20,000 unresolved deceased estates could provide a real boost to Papua New Guinea’s small and medium enterprise (SME) sector. Dr Charles Yala, Principal & Director of Niugini Land and Properties, is calling for the more effective transfer of outstanding titles.
Negotiating to upgrade roads, using aid for development, and refunds to domestic fishing companies. Your weekly digest of the latest business news.
The Governor of the Bank of Papua New Guinea, Loi Bakani, has told an APEC conference on improving financial literacy that the use of mobile phones for financial services is increasing sharply. But he said there is a need to strengthen consumer digital financial literacy and awareness in the country.
China offers to host Pacific leaders meeting, NCS awarded gender equality certification, and Samaritan Aviation to bring a second plane into service. Your weekly digest of the latest business news.