The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.
The Papua New Guinea government hopes that its ‘in-principle’ agreement with Twinza Oil over the Pasca A offshore oil field in the Gulf of Papua will be a template for new oil and gas projects. But the project isn’t across the line just yet.
Small businesses could be up and running with an ecommerce site in as little as a month, if they follow the advice of Robert Webber and Kaye Iling, the brains behind Food Pro PNG’s recent ecommerce launch.
It is critical Papua New Guinea does not squander the opportunities provided by the Coral Sea Cable System, says the Chair of the Business Council of PNG’s Internet Working Group, Sundar Ramamurthy.
The Marape government’s proposed introduction of a new Organic Law for mining, and oil and gas projects will do away with Papua New Guinea’s ‘robust’ legal regime, according to Vaughan Mills, Head of PNG Practice for Corrs, Chambers Westgarth.
Want to buy tickets to see your favourite rugby team but can’t afford to spend two hours queuing to get seats? The Papua New Guinean app Ticket Bilum comes to the rescue. Its owner, Tidman Ikosi, talked about the app’s inception, its future and COVID’s silver lining during an ecommerce forum.
Anthony Pakakota, CEO of bmobile, said that the company’s future is in the space of ecommerce, but some challenges remain, including SIM registration for Papua New Guineans with no form of identification.
The Asian Development Bank is looking to provide as much as US$800 million (K2.8 billion) in new funding to support Papua New Guinea’s budget, according to its Country Director, David Hill.
The Papua New Guinea government’s proposal to move to production sharing agreements in resource projects may not solve the government’s financial problems and there is a risk it will harm the country’s reputation for being a good place to invest, according to the industry itself.
Paradise Foods has seen over 30% growth over the past six months and its future looks even brighter. James Rice, Group CEO of Papua New Guinea’s oldest food manufacturing company, spoke with Business Advantage PNG to explain why.