The Papua New Guinea Advantage Investment and Infrastructure Summit was held in Port Moresby this week. Over two days, delegates heard about Port Moresby becoming ‘the Dubai of the Pacific’, tax incentives in the 2015 Budget and how to develop relationships with Chinese business. Here are some highlights.
Local landowner companies benefit from PNG LNG project, PNG Government takes Woodlark stake, and Buka Airport disrupted by shut down. Your weekly digest of the latest regional business news.
There is enough gas capacity in PNG for at least three more LNG trains over the next five-to-seven years, according to Oil Search CEO, Peter Botten, who’s called for gas developers to co-operate and share facilities.
The partial privatisation of Air Niugini will be the first in a series of privatisations. Opening the 2014 Papua New Guinea Advantage Investment and Infrastructure Summit in Port Moresby this week, Prime Minister Peter O’Neill said removing government ownership will reduce waste, inefficiencies and corruption.
A new approach to managing PNG’s economy, Manus Island detention centre to be ‘wound down’, and PNG cricketers turning professional. Your weekly digest of the latest regional business news.
Last week’s eruption of the Tavurvur volcano at Rabaul has failed to daunt the spirits of tourists visiting the area, according to local tourism operator, Susie McGrade.
The Papua New Guinea economy faces a conundrum: how to finance deficit spending as cheaply as possible. ANZ analysts suggest a global bond issue as a solution. At the same time, ANZ CEO Mike Smith urges a national discussion about how to capitalise on the Asian Century.
By opening a high-end hotel and corporate function centre targeting business travellers, TST Group of Companies is taking advantage of the need for more of these facilities in Port Moresby.
A new chairman for the NBC, and a new chairman at Tourism Fiji
Japan funding K2 billion for roads and bridges, the National Executive Council prevents PNG Power from defaulting on overdraft and PanAust buys 80% share of Frieda River project. Your weekly digest of the latest business news.