Papua New Guinea electrification project to start in Enga Province, Mining Act in Bougainville set for alteration, while moratorium on business visas ends. Your weekly digest of the latest business news.
News
A Pacific-wide three-month ban on fish aggregating devices (FADs) has been extended for another year to allow tuna stocks to continue to revive. But in a warning to other fishing nations, Palau is going ahead with its ban on all commercial fishing vessels.
Business concern about Papua New Guinea’s new foreign investment laws, a new strategy to develop the financial sector and Oil Search CEO receives award. Your weekly digest of the latest business news.
New chairman and board members for the National Development Bank, new practice head for Keypoint Law.
In the agribusiness sector coffee prices have risen, while prices in the hydrocarbons sector are largely unchanged, and metals prices are steady or lower. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
The Governor of the Bank of Papua New Guinea, Loi Bakani, says the foreign exchange market is on track to return to normalcy. In an exclusive interview with Business Advantage PNG, he says the PNG LNG project has begun paying taxes for the first time, which is improving the Government’s budgetary position.
Papua New Guinea’s state-owned enterprises given pep-talk by Minister, new Credit Guarantee Corporation to be established and Ramu NiCo sales fall. Your weekly digest of the latest business news.
A new Secretary at the Department of Communications, BSP banker retires.
After the successful launch of its first dairy farm and the 9 Mile Highlands Produce Depot last year, Innovative Agro Industry has four major expansion projects underway for 2019. Business Development Manager, Gallit Tamir, tells Business Advantage PNG, they include a second dairy farm, a frozen French fries processing plant, and large-scale coffee, cocoa, grain, stock feed processing and poultry production projects.
Twinza Oil is getting closer to producing gas from the Gulf of Papua according to Managing Director Huw Evans. He has outlined ambitious plans for PNG’s first offshore hydrocarbons development.