Papua New Guinea’s mining sector recorded its lowest result for five years in the Fraser Institute’s annual Investment Attractiveness Index. We consider the reasons, and their impact on PNG’s global competitiveness.
Industry sectors
The Papua New Guinean woman who created the first cosmetics line in PNG say the fashion and beauty industry in the country ‘has only been tapped, there is so much potential to come’.
Commercial banks call for collaboration, communication and an awareness of risk if they are help finance what could be an infrastructure boom in Papua New Guinea.
Minister for State Enterprises Sasindran Muthuvel has revealed his plans to reform Papua New Guinean’s under-capitalised state utilities and telecommunications businesses. The future could involve partial privatisation, he says.
Kevin McQuillan meets a globetrotting cruise line officer, Papua New Guinean Christina Aule.
Figures on visitor arrivals to Papua New Guinea indicate that business travel and tourism are growing but there has been a falling interest the MICE market. The number of people coming to PNG for employment increased markedly.
The lack of foreign exchange is having a deep impact on Papua New Guinea’s financial system. A new World Bank report shows that mining is the biggest generator of foreign exchange in PNG, but what about LNG projects?
Papua New Guinean chemist Yalinu Poya has received an international award for her groundbreaking research into making sustainable synthetic fertiliser.
The suspension, at least for now, of negotiations over the P’nyang LNG project, has raised issues about the investment environment in Papua New Guinea and the issue of risk, according to analysts.
The court deadlock over the Wafi-Golpu project has ended with the National Court in Lae throwing out the injunction relating to the Memorandum of Understanding (MOU) that had brought the project to a halt. It opens the door for a potential US$5.4 billion (K18 billion) investment into Papua New Guinea.