The APEC meeting in 2018 in Port Moresby will be a major boost for the country, David Toua, the President of the Business Council of PNG (BCPNG), tells Business Advantage PNG. Analysts say in the past benefits have been shown to outweigh the costs.
Features
A boom in new restaurants is improving the quality and variety of dining options in Papua New Guinea’s capital, Port Moresby, as never before, observes Andrew Wilkins.
The difficulty in getting foreign exchange is making goods made in Papua New Guinea more attractive, local manufacturers tell ‘Business Advantage Boardroom’, which aired last night on national broadcaster, EMTV. But a lack of protection against cheap overseas competition remains a problem.
Papua New Guinea’s forestry faces fierce competition and pricing challenges, Chief Executive of the Forest Industries Association, Bob Tate, tells Business Advantage PNG. He says developments in China are troubling for the sector.
World demand for energy will double by 2050 according to Professor Peter McCabe, Head of the Australian School of Petroleum at the University of Adelaide. But he believes more efficient recovery methods and the increasing role of renewables will keep a lid on prices.
As Papua New Guinea business gets back to work, Business Advantage PNG looks at some of the issues coming up in 2017. It looks likely to be a year of preparing for better times.
Conglomerates have become rare in developed economies; the strategy of diversifying across different industry sectors tends to be punished by investors who prefer specialized players. But in Papua New Guinea industry diversification is commonly used as a way to grow.
Managing human resources is always one of the principle challenges in business. In Papua New Guinea, the approaches have to be specific to the local culture and expectations of workers. Business Advantage PNG looks at some of the different ways that the issue is tackled.
Papua New Guinea’s coffee industry needs to capitalise on the growing global demand for coffee, industry exporters and promoters tell Business Advantage PNG. They believe production improvements are essential to ensuring consistent quality.
While market conditions continue to challenge junior mining companies working in Papua New Guinea, some small mining companies such as Gold Mountain and Frontier Resources are experiencing encouraging results from their exploration programs in the country.