For companies doing business across borders, questions of the applicable law and the methods for enforcing contracts can be critical. Erik Andersen outlines the options in Papua New Guinea should a deal hit problems.
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Nautilus Minerals intent on deep sea mining, despite cancelling government agreement, says its CEO.
With the PNG LNG project moving from its construction phase into production, a downturn in Papua New Guinea’s building and construction sector is underway, softened somewhat by the national government’s injection of infrastructure spending. But there’s still plenty of work to be done, as Business Advantage PNG reports.
New Caledonia’s tourism industry finally seems intent on fulfilling its tremendous potential, as new high-end properties open and direct flights to Melbourne are launched.
Several new developments – the creation of a tourism hub at Kokopo (and new direct international flights to service it) and the start of cruise liners visiting remote Milne Bay – indicate progress is being made to develop Papua New Guinea’s tourism industry.
The ANZ Bank last month predicted the kina will fall by up to 10% in value by the end of 2014, in anticipation of income from the LNG project. Paul Barker from the Institute of National Affairs, looks ahead several years to when that income begins to have ‘a substantial impact’.
With Papua New Guinea’s economy slowing, there are more companies chasing fewer opportunities. How to ensure your business gets the job? The answers are good customer service and developing local talent, according to management consultant Robert de Loryn.
Cheap imports into Papua New Guinea are posing an increasing threat to local producers, with reports of foreign companies ‘dumping’ goods in PNG or under-declaring the value of imports.
The Gulf Provincal government has set up a 50/50 partnership with the United States-based cargo transportation company, Teras America LLC, to build a port to service Papua New Guinea’s second LNG project and other industries.
Microfinance has grown considerably in PNG in the past few years. Business Advantage PNG talks with Tony Westaway, Managing Director of Nationwide Microbank, about the transformative power of microfinance and the sector’s rapid growth.