Figures presented by the Investment Promotion Authority at the PNG Advantage Investment Summit show a ten-fold increase in investment from foreign companies in Papua New Guinea over the past decade.
Economy & Investment
The Papua New Guinea government will cut K1.6 billion in expenditure from its 2015 Budget, and may seek further cuts of K1 billion, according to Treasury Secretary, Dairi Vele.
PNG Prime Minister Peter O’Neill says the current wave of economic reforms are vital if the country is to be competitive and living standards rise. He spoke to Business Advantage PNG after addressing the Advantage Investment Summit in Brisbane last week.
China’s economy has promising prospects even as it adapts to a ‘new normal’ stage of its economic development. So what impact will a lower Chinese growth rate have on Papua New Guinea? Business Advantage PNG asks three regional analysts.
Ordinary Papua New Guineans will be able to apply to purchase at least some of 97 million shares in PNG-based financial services company Kina Securities. The company has just launched its prospectus, ahead of an expected listing on both the Port Moresby and Australian stock exchanges on 30 July.
Prime Minister Peter O’Neill says a planned ‘shake up’ of the Port Moresby Stock Exchange (POMSoX) will lead to more innovation and increased domestic and international investment.
The PNG Government’s decision to review the 2015 Budget has been welcomed, while another prominent economist suggests further foreign investment can be attracted by improved policy settings.
Registrations are now open for the 2015 Papua New Guinea Advantage Investment Summit, to be held at the Brisbane Convention and Exhibition Centre in Brisbane, Australia on 27 and 28 August.
Business Advantage PNG’s exclusive annual survey of Papua New Guinea’s major companies indicates a change of mood after a disappointing 2014, with profit and recruitment expectations up for the year ahead.
Papua New Guinea’s economy is now emerging from a period of hiatus following the completion of its massive liquefied gas project. Andrew Wilkins talks exclusively to some of PNG’s top executives to find out their views on the economy.