The latest business news from Papua New Guinea and the region
The Prime Minister Peter O’Neill has outlined a plan of greater government involvement in Papua New Guinea’s industrial development. In a speech to the Australia Papua New Guinea Business Forum & Trade Expo in Port Moresby O’Neill described the need both to broaden the industry base and to move some industries up the value chain.
The economic risks faced by the three main commercial banks in Papua New Guinea are very high, says ratings agency S&P Global Ratings. But Associate Director Andrew Mayes tells Business Advantage PNG, credit risk is ‘well-managed’.
Mineral deposits are becoming increasingly difficult to develop and the mining industry is looking to the Papua New Guinean Government to deliver flexible policies that will benefit a maturing industry, Nautilus Minerals Chief Executive Officer, Mike Johnston tells Business Advantage PNG.
Business Advantage International’s PNG 100 CEO Survey of chief executives in Papua New Guinea’s biggest companies has found that many business leaders fell short of their profit expectations in 2016. But the mood remains cautiously optimistic.
Value and risk profile for Frieda River project improves, claims excess kina is resulting in more domestic investment, and corruption estimated to have cost Papua New Guinea K1.5 billion last year. Your weekly digest of the latest business news.
Interest rates are likely to remain at 6.26 per cent for the rest of 2017, and inflationary pressures are expected to moderate, according to the latest economic analysis by Singapore-based BMI Research, a unit of Fitch Group.
Over three thousand nominate for 2017 national elections, the moratorium on mining exploration in Bougainville is lifted, and cocoa farmers receive grants. Your weekly digest of the latest business news.
Concerns have arisen about the foreign ownership test in Papua New Guinea after the Investment Promotion Authority (IPA) published advertisements indicating it will be taking a close look at what is happening. Observers see it as a sign of a tougher stance from the regulator.
The provisional program for the 2017 Papua New Guinea Investment Conference has been released, highlighting business opportunities across PNG’s economy. The conference will be organised by the publisher of www.businessadvantagepng.com, and will be held at the Shangri-La Hotel in Sydney, Australia, on 7 and 8 September.
Electoral Commissioner says campaign period will last eight weeks, Ombudsman suspends release of development funds until after the election and cocoa production back to average levels before borer struck. Your weekly digest of the latest business news.