Recruitment agencies servicing Papua New Guinea say the employment of expatriates has fallen over the past year. However, as our survey of the sector suggests, there is optimism about all employment in 2014, as new ventures come on stream to replace the giant PNG LNG project.
Trade Minister, Richard Maru, has amended Papua New Guinea’s takeover code, introducing a new national interest test for anyone acquiring shares in PNG companies. The law firms who represented Kulim (Malaysia) Berhad in its recent failed bid for New Britain Palm Oil say the lack of definition about what is ‘the national interest’ will discourage foreign investment in PNG and PNG companies.
With money finally in the bank and an experienced hand at the helm, are the fortunes of PNG’s troubled mobile phone company Bemobile about to turn? Business Advantage PNG spoke with Sundar Ramamurthy – who last week became its ninth CEO and its fourth in a year – to find out.
The great untapped investment area in Papua New Guinea is infrastructure, according to Syd Yates, Executive Director of investment fund Kina Asset Management Limited (KAML).
While its bullish prediction of US$23 billion in export earnings for Papua New Guinea by 2030 may have garnered the headlines, there’s a lot more to ANZ’s ‘Bold Thinking: Imagining PNG in the Asian Century’ report, released this week.
Even if the PNG Government puts up its share of the funds for the Solwara I, as Nautilus Minerals’ CEO expects, it will be at least two to three years before the company can begin its deep sea mining operation in the Bismarck Sea.
Corporate and residential telecommunications prices in Papua New Guinea should fall over the next year as infrastructure improves, according to senior representatives of PNG’s two leading telecommunciations companies, Telikom and Digicel.
You probably haven’t realised it, but on the ground floor of the Mutual Rumana building in Port Moresby’s Waigani suburb something inspirational is happening—and it’s not just five star food at two star prices.
Nautilus Minerals says it will go ahead with its high grade copper-gold exploration project in the Bismark Sea, after an international arbitrator compelled the PNG government to abide by a joint venture agreement.
Tourism operators have welcomed the government’s plan to develop Kokopo and Rabaul in East New Britain province as the country’s tourism hub. But they warn poor infrastructure and the country’s bad image overseas could prevent PNG reaping the benefits of ‘huge’ tourism potential.