The first National Budget of the returned Marape Government predicts record government revenues and expenditure in 2023, with significant increases in spending on infrastructure, law and order, education and health.
Economy & Investment
With key Pacific economies such as Fiji and the Solomon Islands now opened up after COVID, what opportunities do they offer Papua New Guinea-based businesses, and what are the keys to success? Some experts provide their insights.
The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.
China remains Papua New Guinea’s second largest source of imports and third-largest export market. Fresh from over three years in Beijing, Austrade’s new Deputy CEO considers the prospects for doing more business with China.
Foreign direct investment in Papua New Guinea is starting to return this year after a ‘huge slump’ over the previous two years, according to Clarence Hoot, Managing Director of the country’s Investment Promotion Authority.
In what may be the most significant innovation in Papua New Guinea’s capital markets since the establishment of a local stock exchange, the PNGX has announced Securities Commission approval for its new Debt Market Rules. The approval paves the way for the establishment of a corporate bond market.
The growth of Papua New Guinea’s non-resources economy is giving major developers the confidence to invest in projects outside of Port Moresby, an expert panel told the recent Business Advantage Papua New Guinea Investment Conference.
Delegates to last week’s 2022 Business Advantage Papua New Guinea Investment Conference received an overview of the plans of the new Marape government, as well as detailed economic updates and a range of briefings on opportunities across the country’s key economic sectors.
The 2022 Business Advantage Papua New Guinea Investment Conference is taking place in Brisbane on 15 and 16 August, bringing business people and financiers together face-to-face for the first time since 2019. We preview the event.
While the number of Chinese businesses in Papua New Guinea has increased significantly over the past two decades, more recently direct investment from China has flagged. A pioneering new study is taking a closer look.