There are signs of optimism in the Papua New Guinea business community, according to a survey of market conditions by the Business Council of Papua New Guinea. It suggests that, while the pandemic has exacted a severe financial toll, businesses have now ‘settled’ and are navigating the challenges of the new environment.
Kumul Petroleum has announced that the PNG government has negotiated an additional seven per cent equity with future joint venture projects with Total after ‘remobilisation talks’ regarding the Papua LNG project in Paris last week.
The Internal Revenue Commission to audit logging companies claiming GST, SP Brewery gets international recognition and PNG DataCo launches COVID-19 website. The business news in brief.
Harmony Gold Mining announces a new Investment Committee Member, the Young Entrepreneurs Group of the Asia Pacific (YEGAP) welcomes a new members to its Executive Committee, and the PNG Hunters appoint a new Commercial Manager.
There are signs of a renewed effort to push ahead on the Total-led Papua LNG project after successful meetings between the company’s CEO and a senior government delegation.
Power outages in Papua New Guinea’s second largest city linked to K60 million debt, government looking into outstanding debts and new partnership between the Morobe Provincial Government and the National Airport Corporation. The business news in brief.
Vaccine roll-out commences in Papua New Guinea, the effects of the liquor ban in PNG breweries, and funding for the Edevu Transmission and Electrification project. Your business news curated.
Papua New Guinea’s economy will recover modestly in 2021 and 2022, but financial stresses will persist, says the Asian Development Bank’s Asian Development Outlook for 2021. It also argues strongly for the reform of PNG’s state-owned enterprises.
A new president for the Papua New Guinea Chamber of Mines and Petroleum, a new head for Mayur Resources’ lime and cement business, Oil Search welcomes a Director, the National Gaming Control Board adds to its board, and a new Deputy Controller of the National Pandemic Response.
Vaccine rollout announced for Papua New Guinea’s 22 provinces, Enga Electrification Project gets funding and Kumul Petroleum to seek funding for gas fields overseas. The news in brief.