Papua New Guinea’s oldest manufacturing company, Paradise Foods, is marking its 80th year of operations this year, after its humble beginnings as a small town bakery in 1933. Behind the quiet celebrations are big expansion plans, Managing Director David Peate tells Business Advantage PNG.
Papua New Guinea’s retailers and manufacturers alike reporting significant drops in revenue this year. How serious is the downturn?
The sharp fall of Papua New Guinea’s currency, the kina, over the past few months is a cause for concern, with Manufacturers Council of PNG CEO Chey Scovell describing it as a ‘real kick in the guts’ for local manufacturers.
With Papua New Guinea’s Sovereign Wealth Fund (SWF) due to receive its first revenues next year, the Governor of the country’s central bank has given his approval. Meanwhile, the International Monetary Fund has sounded a note of caution.
Last week’s legislation to nationalise the PNG Sustainable Development Program (PNGSDP) and Ok Tedi Mining Limited carries severe risks and negative implications for development in PNG, writes Stephen Howes, Director of the Development Policy Centre at the Australian National University.
While its aims of encouraging small and indigenous business are universally supported, the Papua New Guinea Government’s recent dealings with investors have created a ‘feeling of unease’ in some business circles.
The annual Papua New Guinea Advantage investment summit was held this week in Port Moresby. After two days of discussions, presentations, speeches, dinners and question-and-answer sessions, here are five observations.
With the ExxonMobil-led PNG LNG project ‘more than 90% complete’ and due to start exports in the second half of 2014, what are the chances of additional LNG projects for PNG? Business Advantage PNG considers the candidates.
Papua New Guinea finance company Moni Plus is in expansion mode, after launching a state-of-the-art online foreign exchange service earlier this year.
While reduced global commodity prices are having a major impact on Papua New Guinea government revenues this year, there are ‘incipient signs of a turnaround’, according to data published in the latest ANZ Pacific Quarterly, released this week.