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The rise of PNG’s private sector

1 May 2012 by Leave a Comment
IFC, the private sector development arm of the World Bank Group, has increased its presence in Papua New Guinea. Business Advantage talks to IFC’s Resident Representative in PNG, Carolyn Blacklock, about taking PNG’s private sector to the next level. What is the status of the IFC’s own investment portfolio in PNG? We continue to work […]
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Gas and petroleum: the year of heavy lifting

1 May 2012 by 1 Comment
Papua New Guinea’s oil and gas sector continues to attract new entrants as its ExxonMobil-led PNG LNG liquefied natural gas project moves inexorably towards a production stage. Papua New Guinea is highly prospective for oil and gas, with deposits being found across its Highlands provinces, Foreland Basin and even beneath the Gulf of Papua. The […]
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Province in Focus: Western Province

1 May 2012 by 4 Comments
The sky is the limit as Papua New Guinea’s remotest province sets off on a remarkable course of sustainable development. Also unofficially referred to as Fly River Province, PNG’s largest province by area is also one of its least developed. Vast, remote and with a population density of less than two people per square kilometre […]
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A season of healthy growth

1 May 2012 by Leave a Comment
Farming expertise, rich soil and high rainfall are behind Papua New Guinea’s organic strength. Agriculture accounted for more than 30% of Papua New Guinea’s GDP in 2011, according to World Bank figures. The sector expanded at a moderate pace in 2011, with many cash crops responding to high international prices. PNG’s most valuable cash crops—oil […]
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Papua New Guinea’s capital markets

1 May 2012 by 2 Comments
After strong performances in 2009 and 2010, the Port Moresby Stock Exchange (POMSoX) experienced a tough 2011, as did many bourses around the world. The Kina Securities Index, which measures the health of PNG’s stock exchange, reported a 22.21% fall in 2011, but this fall should be seen in context. The region’s major exchanges—the Nikkei […]
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Barramundi project spawns opportunity

1 Mar 2012 by Leave a Comment
The 28 million kina (US$12.7 million) Western Province Sustainable Aquaculture Project is the first sustainable fisheries project to be delivered in Papua New Guinea’s Western Province and it incorporates public, private and community partnerships with a strong regional development focus. Located next to Daru Airport, its main site includes a barramundi hatchery, storage, administration building […]
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Bensbach Wildlife Lodge

1 Mar 2012 by Leave a Comment
This comfortable 12-room lodge, built of local materials, has established a reputation for spectacular barramundi fishing (other species include ox eye herring and saratoga). It is located on the Bensbach River (Papua New Guinea’s most westerly river), in a vast, open, seasonally-flooded plain which is crowded with bird and animal life, including deer, wallabies, crocodiles […]
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Connecting Western Province to the world

1 Mar 2012 by
An ambitious and transformative project has commenced to bring 21st century communications to the rural areas of Western Province for the first time. Western Province is remote, even for Papua New Guinea, and its sparsely distributed population and business community has, until recently, faced particular challenges in communicating not only across province but with other […]
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Landowner company diversifies

1 Mar 2012 by 2 Comments
Mineral Resources Star Mountains (MRSM) is Western Province’s own example of the new breed of landowner company playing an increasingly entrepreneurial role in the nation’s economy. MRSM represents the economic and social interests of the Ok Tedi Mine Landowner Groups, on whose land Ok Tedi’s operations are located. As a royalty, they receive 2.5% of […]
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PNG Microfinance: lubricating the wheels of commerce

1 Mar 2012 by Leave a Comment
PNG Microfinance Ltd plays a vital role in the economy of Papua New Guinea’s Western Province by mobilising savings and providing financial services to many small businesses that are not able to meet the lending criteria of the major banks. Although it operates nationwide, it has a particular focus on Western Province, where it has […]
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