Port Moresby’s economic growth has given a much-needed boost to the construction and hospitality sector. Two hotels have opened in the past two years and the Crowne Plaza has plans to make its return in July, with a twist.
Industry sectors
Papua New Guinea must ensure that it is at the front of the ‘queue’ in its LNG projects if it is to adapt to future volatility, according to Dr Fereidun Fesharaki, Founder and Chairman of the oil and gas consulting group Facts Global Energy (FGE). He predicts huge shifts in the oil and gas markets.
Vani Nades is the first Papua New Guinean to open a co-working hub for small-to-medium entrepreneurs in Port Moresby. Adeshola Ore chats with Nades about being an entrepreneur in PNG, and her plans for the future.
The coffee industry in Papua New Guinea is dealing with unusually low prices and poor production levels but there are significant opportunities, especially in commodity and speciality coffees. That was the view of speakers at the 2019 National Coffee Industry Symposium in Port Moresby.
Less than 5 per cent of Papua New Guinea businesses getting foreign exchange when they need it: poll
As far as business is concerned, Papua New Guinea’s foreign exchange challenges are far from over. That’s according to an exclusive Business Advantage PNG poll, which indicates the majority of businesses are still experiencing significant delays in meeting their foreign currency needs.
The World Bank has released a new report, which provides a bullish assessment on economic growth in Papua New Guinea. But it says the country’s dependence on natural resources is not generating sufficient jobs to absorb its growing population.
Being stranded for five years on Bougainville Island because of the civil conflict failed to deter Ludwig Kumoru, CEO of Parties to the Nauru Agreement (PNA), from developing a career in the fishing industry.
Papua New Guinea was the first Pacific country to sign up to China’s Belt and Road Initiative, an infrastructure development program across Eurasia. David James considers some of the implications identified by analysts.
Gender inequality is not just a social issue in Papua New Guinea; it is a business issue. Gabriella Munoz explores what businesses and can and are doing to make a difference.
Things are looking up for Papua New Guinea’s manufacturing sector and moves are afoot to develop strategies to foster local companies. David James profiles the sector.