Papua New Guinea’s foreign exchange problems are a symptom of an overly narrow industry base, according to a new report by the Business Council of PNG. It says the new government also needs to look at widening the tax base and improving infrastructure.
Which are Papua New Guinea’s favourite websites? While it’s no surprise that Google and Facebook dominate, Business Advantage PNG’s analysis of web rankings data suggests local content is holding its own.
The interests of commerce and environmentalism are being aligned on Papua New Guinea’s Huon Peninsula. Local villagers have become involved in saving tree kangaroos by growing coffee and selling it into the United States.
Oil prices have recovered and coffee and cocoa are both strong. Business Advantage PNG’s monthly review of Papua New Guinea commodity and financial markets.
Funding the re-opening of the Panguna copper mine is a key concern for a newly-formed Joint Committee of landowners, BCL and governments, says Bougainville Governor, John Momis. Independent analysts believe it is likely to come from one of the global mining majors.
A simulated gas processing plant has arrived in Port Moresby for use at the new Kumul Petroleum Academy, and is due to begin operating by September.
Albert Schram, Vice-Chancellor of the University of Technology (Unitech) in Lae, tells Business Advantage PNG that the institution is undergoing a broad ‘cultural change’. The aim is to create closer ties with business in order to produce better qualified graduates.
Businesses in Papua New Guinea may be finding it hard to get foreign exchange, but credit quality within the domestic economy remains relatively healthy. Finance executives and analysts tell Business Advantage PNG that there has been only a slight deterioration of kina-denominated credit, despite the weak economy.
Five years after opening the first of three Duffy’s cafés in Port Moresby, owner and entrepreneur Travers Chue is preparing to expand overseas, marketing not just Papua New Guinea specialty coffee, but premium health products.
The Kokoda Track Foundation (KTF) is pressing ahead with an urgent training project to improve the skills of thousands of elementary school teachers across Papua New Guinea.