Papua New Guinea might be ‘under-touristed’, but if numbers continue to increase it won’t be that way for long, and that’s great news for the economy. Lisa Smyth reports.
Industry sectors
A Papua New Guinean entrepreneur developed an app to sell power on the streets and partnered with the state-owned energy company PNG Power. His product is helping the community have better access to electricity.
Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago.
In an exclusive interview with Business Advantage PNG, ratings analyst Rebecca Hrvatin, says PNG’s fiscal imbalances will improve—provided the Papua LNG project continues as planned.
Acting Managing Director Carolyn Blacklock has resigned from state-owned utility, PNG Power. The announcement comes with the state-owned utility on the cusp of launching a new ‘reform agenda’.
Proposed changes to the Mining Act are likely to go to Papua New Guinea’s Cabinet ‘in the next few weeks,’ according to Peter Graham, Managing Director of Ok Tedi Mining.
NKW Fresh, a division of the landowner-owned conglomerate NKW Holdings, is providing fresh produce across Papua New Guinea and aiming to export to the region. David James explores what this may mean for the country that aims to be the ‘food basket’ of the region.
The gas price has increased over the last month, but the oil price has weakened. Cocoa and coffee prices are also down. Business Advantage PNG’s monthly overview of commodity and financial markets.
Six Papua New Guinean companies discuss the benefits of superannuation contributions and share with Business Advantage PNG why it can help companies reduce attendance problems and increase loyalty through super.
The mining industry needs government help to solve an exploration crisis, according to industry representatives. But government bodies are saying there needs to be a better sharing of the rewards in the national interest. Business Advantage PNG looks at the contrasting views of the industry and the state.