A report on the state of the Papua New Guinea economy by the International Monetary Fund (IMF) says the Government has taken some ‘bold steps’ in its economic management. But it contends that the challenges are considerable and would be best managed with an ‘active’ approach to macroeconomic management.
Chris Hawkins, Chief Executive Officer of the APEC PNG Co-ordination Authority believes sceptics about Papua New Guinea’s ability to host APEC will be proven wrong. The policy areas that will be emphasized are improving connectivity, creating sustainable and inclusive growth, and implementing structural reform.
Could Papua New Guinea Government bonds and treasury bills soon be purchased anywhere in the world with the click of a button? A new working group aims to look at ways to modernise the way the country raises money.
The next decade could be a ‘golden’ one for the mining sector, believes Roger Gunson, Executive Manager, Regulatory Operations at the Mineral Resources Authority. But he has called for changes to Papua New Guinea’s government policy to better protect mining tenements.
The Papua New Guinea government has handed down its 2018 Budget. It indicates that the government is looking to focus more on the non-mining sectors of the economy.
Oil and gas prices are up and copper is also strong. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets comes to you from this week’s PNG Mining and Petroleum Conference in Port Moresby.
The Prime Minister of Australia, Malcolm Turnbull and the Prime Minister of Papua New Guinea, Peter O’Neill have announced they will be working together to lay a new undersea high speed telecommunications cable from Australia to Port Moresby. The move is expected to contribute to closer economic integration between the two neighbouring countries.
Looking to invest successfully in the Pacific? There’s no substitute for understanding your market and its people, and for being on the ground. Three successful regional investors also outlined to the Business Investment PNG Conference which sectors have the most potential.
The Commissioner-General of the Internal Revenue Commission (IRC), Betty Palaso, has announced a temporary tax amnesty for business in Papua New Guinea. Penalties that would normally be imposed by the IRC on late lodgement of annual tax returns and late payments will not be applied for the rest of 2017.
The National Central District has launched an urban development program, which will run into the middle of next year. Governor of Port Moresby, Powes Parkop, said he will be looking to upgrade Port Moresby’s settlements and explore ways to offer residents title.