Lifting the tax credit scheme to five per cent would see a big boost in road building and maintenance, according to the General Manager of West New Britain’s Hargy Oil Palms, Graham King.
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Global and domestic factors have combined to slow Papua New Guinea’s economy. However, as Andrew Wilkins discovers, the Pacific nation’s business leaders are still confident about its future prospects.
Over 60,000 expat workers are employed in Papua New Guinea. As its economy has grown, the number of foreign workers coming to Papua New Guinea has increased. Scott Roberts of recruitment consultants Cadden Crowe describes some dos and don’ts when bringing expats to PNG.
The Bougainville conflict, which lasted from 1988-1998, was critical to defining how sovereign risk was perceived in Papua New Guinea. Former PNG Prime Minister, Sir Julius Chan, knew that keeping the island was vital both for the PNG economy and the nation’s status as an investment destination. He reflects on the extraordinary events in his autobiography.
Papua New Guinea’s two major cities, Port Moresby and Lae, are the heartbeat of the economy. David Conn, Chief Executive of the Port Moresby Chamber of Commerce and Industry (POMCCI) and Alan McLay, President of the Lae Chamber of Commerce (LCCI) reflect on the changes that have occurred in their respective cities over the last decade.
Papua New Guinea’s currency, the kina, has fallen over the last year; many are predicting it will go lower. Business Advantage PNG talks exclusively to two analysts about where the currency is headed and how it will affect business conditions.
The relationship between Japan and Papua New Guinea has developed to the point where this year—thanks to liquefied natural gas—Japan is expected to be PNG’s largest export destination this year. Business Advantage PNG asks Katsuo Yamashita, the Chairman of the Japan PNG Association, about the growing links between the two countries.
The Personal Property Security Act 2011 (PPSA) is expected to commence operation in PNG in the first half of this year. It is a significant legislative change that will affect many Papua New Guinea businesses.
With the PNG LNG project now in production, all eyes are on Papua New Guinea’s next likely gas project: Papua LNG. InterOil Corporation has been with the project, based on the Elk-Antelope gas fields in Gulf Province, since its inception. Chief Executive Officer Michael Hession tells Business Advantage PNG why the project is still promising, even in a time of low global gas prices.
The United Nations Development Programme (UNDP) has been operating in PNG for 50 years. Roy Trivedy, the UNDP Resident Representative in Papua New Guinea, reflects on the country’s economic and social development and why working together—’Yumi Wok Wantaim’—is vital.