Trade, Commerce and Industry Minister Richard Maru says he is compiling a reserve list of businesses that may only be owned and operated by PNG nationals. While Maru has given no timeline for the reintroduction of the Reserve List, he says existing businesses will be bought out at the current value.
The launch of the country’s first master plan to develop the Small and Medium Sized Enterprise (SME) sector reflects a growing acknowledgment by Cabinet ministers that they need to grow sectors other than mining.
Thirty-six executives from major Chinese energy, forestry, fisheries, tourism and construction businesses are in PNG this week to look for investment and development opportunities. Pacific Trade Commissioner David Morris is leading the delegation.
As Papua New Guinea business gets back to work for a new year, Business Advantage PNG looks ahead to consider what 2016 may bring.
The regional PACER Plus trade agreement will not pose a threat to Papua New Guinea’s manufacturing sector, but could rejuvenate it, according to Edwini Kessie, Chief Trade Adviser of the Pacific Island Countries, who spoke with Business Advantage PNG.
In spite of the talk about an economic slowdown in 2016, Papua New Guinea’s capital, Port Moresby, is a city where plenty is still happening as 2015 comes to a close. Business Advantage International’s Andrew Wilkins reflects on recent discussions with Papua New Guinea business leaders.
The Papua New Guinea Government has made tough decisions in its 2016 Budget to avoid a cash and macroeconomic crisis. Business Advantage PNG talks to some experts on how the budget measured up to expectations, and what is still needed.
The message from the New Caledonia Business Lunch in Sydney, Australia, on 4 November was that there are plenty of opportunities for international service providers in the French Pacific territory of New Caledonia.
Australian businesses eager to earn a dollar in Papua New Guinea should understand they need to be seen as committed long-term to the market to be successful, says Australia’s Senior Trade Commissioner to PNG, David Knapton.
As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.