A curious thing has been happening in the Pacific. Instead of running trade and investment road-shows in Australia, New Zealand or China, two Pacific Island countries have been courting investment from each other, observes Jenny Hayward-Jones.
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In what is believed to be a first for Papua New Guinea, Lihir Island landowners will have access to a new lending scheme to finance their small businesses and help foster economic development on the island.
The Australia/New Zealand representative for PNG’s Tourism Promotion Authority predicts strong growth in domestic tourism, anticipating a drop in travel costs and increased marketing of PNG’s natural scenic spots. Sonja Heydemann reports.
Lae is set to become the South Pacific’s main fish processing centre, with the opening of one massive new cannery this week, the commencement of construction for another, with more on the drawing board.
From a Papua New Guinea perspective, the most striking thing about attending Australia’s major annual media and marketing conference last week was the irrelevance of so much of the content, writes Robert Hamilton-Jones.
Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Papua New Guinea Sustainable Development Program Ltd appears to be resigned to losing its main asset, the Ok Tedi mine, to the PNG Government. What are the implications if the takeover goes ahead?
Papua New Guinea Sustainable Development Program Limited has been under heavy political pressure to relinquish is majority ownership of PNG’s largest mine, Ok Tedi. In this speech, delivered at the announcement of the company’s 2012 annual report this week, PNGSDP Chairman Sir Mekere Morauta appears to concede the loss of Ok Tedi, arguing for a sale on fair terms, and ponders both the future of PNG’s largest mine, and his own organisation.
Dr Genevieve Nelson, Executive Director of the Kokoda Track Foundation outlines program which is encouraging young Papua New Guineans to consider themselves as leaders.
The Chairman of Advance Cairns, Cam Charlton, explains why the commercial ties between Cairns and PNG are going from strength to strength.