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.
It has been a patchy month for energy prices and precious metals, while agricultural prices have been sharply weaker. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
Syd Yates, Chief Executive of Kina Securities, has announced that he will relinquish the role next month after 20 years with the company, with Westpac’s Greg Pawson joining the company. Yates tells Business Advantage PNG he believes it is time for new blood.
Since 2014, Puma Energy has been Papua New Guinea’s major refiner and retailer of petroleum products. Its also part of a global energy operation that spans 47 countries. Jim Collings, Country General Manager, explains some of the challenges of supplying a country which is still heavily reliant on diesel fuel.
Cooperation amongst the energy majors in Papua New Guinea is leading to greater efficiency and higher international standing, according to industry leaders and analysts. What is happening in PNG appears in stark contrast to recent experiences in Australia’s LNG industry.
Work on the ‘most critical’ 90-kilometre section of the Highlands Highway will begin later this year, under an ambitious 10-year repair and maintenance program, funded by the Asian Development Bank. Works Secretary David Wereh tells Business Advantage PNG, he is already looking to use the funding model to ‘fix’ 16 High Priority roads in other parts of the country.
What do business leaders look for as signs of recovery in Papua New Guinea’s economy? In the second of a two-part series, Business Advantage PNG gets views from senior executives in finance, manufacturing and agribusiness.