The next 12 months or so is a time to digest and consolidate, says Peter Langslow, the incoming head of one of Papua New Guinea’s largest and oldest companies, Steamships Trading Company. He told Business Advantage PNG, however, it is also a time to prepare for fresh opportunities.
Liquidity conditions have emerged as a major source of risk for the PNG economy, as the central bank governor reveals he spent US$570.9 million (K1.48 billion) to support the kina last year.
The number of foreign workers coming to Papua New Guinea is growing, with an annual net gain of up to 34,000 since 2007. Carmen Voigt-Graf reports that on recent growth rates, The Philippines will soon overtake Australia as the main source of foreign workers.
The Asian Development Bank’s departing Papua New Guinea economist, Aaron Batten, says agriculture is the big winner with the current downturn in commodity prices, while its Country Director Marcelo Minc flags further bank investment in PNG.
Papua New Guineans aiming to start a small and medium enterprise (SME) have been buoyed by the revival of the previously successful Stret Pasin Stoa Scheme, which adds to the number of programs helping the country develop a small business sector.
The Port Moresby Stock Exchange will lose a major member next week, with the de-listing of New Britain Palm Oil (NBPOL). Meanwhile, another listed stock, Indochine Mining, has gone into voluntary administration.
Papua New Guinea’s potential as a market for ice cream will be put to the test when Laga Industries completes a significant expansion of its Gala manufacturing facilities in Lae later this year.
A recent online survey to identify Papua New Guinea’s most recognisable brands suggests that traditional marketing techniques still hold sway in PNG. But for how much longer?
Major changes to PNG company law have important ramifications for company directors, company secretaries, and those involved winding up a company. Richard Kriedemann and Sarah Kuman report on the impact of the new laws.
New technology may reduce internet charges, Vanuatu assesses cyclone damage and Newcrest buys Wamum gold project. Your weekly digest of the latest business news.