Demand is up, foot traffic is down and trading is restricted but Papua New Guinea’s retailers are finding a way through the country’s current lockdown – and some positive changes are here to stay, reports Paul Chai.
Features
The presidents of Papua New Guinea’s two largest business chambers, in Port Moresby and Lae, outline the difficulty for business of life under lockdown, but also point to how PNG’s economy can bounce back from the current crisis.
Two Papua New Guinea hotels have shut their doors temporarily because of the COVID-19 state of emergency and others have put in place tough measures to guarantee their survival.
Papua New Guinean entrepreneur Samson Korawali aims to revolutionise online learning with the timely launch of online learning platform, Reelae. He tells Business Advantage PNG how the platform has attracted the attention of Silicon Valley.
As a thinly traded currency, the kina has been protected from some of the volatility affecting world markets in the wake of COVID-19, but that presents its own set of problems.
The global economic meltdown that has been triggered by the COVID-19 virus outbreak has hit Papua New Guinea hard. What are the implications for the country’s business and financial sectors?
Papua New Guineans Len Awinup and Lydia Lisa Dimokari are creating change through two initiatives that could level up the field for young people around the country.
Lisa Smyth meets four young Papua New Guineans who are working to transform their communities with their dynamic business ideas. In part one of this story, meet the man behind apparel brand Barata and the woman who’s building solar-powered walk-in fridges.
The World Bank and the International Finance Corporation are looking to step up investments in the Highlands. Michel Kerf, the World Bank’s Country Director for PNG and the Pacific Islands, describes to Business Advantage PNG the challenges and opportunities for the region.
The economic fallout from the coronavirus (COVID-19) is creating havoc across world markets and economies. According to the ratings agency Fitch, Papua New Guinea’s formal economy will be affected, but the story could be different for its informal and local economy.