The Asian Development Bank’s departing Papua New Guinea economist, Aaron Batten, says agriculture is the big winner with the current downturn in commodity prices, while its Country Director Marcelo Minc flags further bank investment in PNG.
Industry sectors
Papua New Guineans aiming to start a small and medium enterprise (SME) have been buoyed by the revival of the previously successful Stret Pasin Stoa Scheme, which adds to the number of programs helping the country develop a small business sector.
The Port Moresby Stock Exchange will lose a major member next week, with the de-listing of New Britain Palm Oil (NBPOL). Meanwhile, another listed stock, Indochine Mining, has gone into voluntary administration.
Papua New Guinea’s potential as a market for ice cream will be put to the test when Laga Industries completes a significant expansion of its Gala manufacturing facilities in Lae later this year.
New technology may reduce internet charges, Vanuatu assesses cyclone damage and Newcrest buys Wamum gold project. Your weekly digest of the latest business news.
Papua New Guinea’s central bank has moved to stop offshore foreign banks, which don’t operate in PNG, from foreign exchange trading in the Kina.
Information and telecommunications technology can be a driver of new jobs and business efficiency in Papua New Guinea. Technology specialist Priscilla Kevin tells Business Advantage PNG of her own venture into the ICT business and suggests how others might follow.
Australians and Pacific Islanders living in Australia will be able to watch the 2015 Pacific Games in the comfort of their own home, after the Games Organising Committee awarded the Australian broadcast rights to the National Indigenous Television (NITV).
It’s critical for the future of Papua New Guinea’s forestry and manufacturing sectors that the Government’s planned 40,000 ‘affordable houses’ be built in PNG by local suppliers, industry leaders tell Business Advantage PNG.
Papua New Guinea’s tuna industry leaders are calling for reform of the regional Vessel Day Scheme, saying it is counterproductive, speeding up stock depletion with the size of catches getting smaller.