COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
Sections
The prospects for the prices of metals Papua New Guinea exports are mostly positive, reports David James from the recent International Mining and Resources Conference.
The PACER Plus free trade agreement commences on 13 December 2020, revolutionising trade across the Pacific (although not Papua New Guinea yet). Additional countries are set to join the agreement in the coming months.
Kina Bank has consolidated its position as Papua New Guinea’s second largest bank, and also taken a first step towards becoming a regional bank, by acquiring the assets of Westpac in Papua New Guinea and Fiji.
Finding a safe and reliable taxi service in Port Moresby can be an issue, but entrepreneur Isaac Jipsy has developed ODESH, an online solution that is changing the way taxi services operate in Papua New Guinea’s capital.
Most successful organisations have one thing in common: a clear strategy plan. Wayne Osterberg, Director, Advisory Services at KPMG Papua New Guinea, shares with us his tips for defining and implementing a strategy plan for any organisation.
JMP Securities has acquired Bank South Pacific’s stockbroking business in Papua New Guinea. Co-founder and Managing Director Lars Mortensen tells Business Advantage PNG he sees great opportunity for growth.
There were few tax surprises in the 2020-21 Budget. However, what was not there was just as significant as what was, according to KPMG’s Tax Partner in Papua New Guinea, Karen McEntee.
The global economy is recovering faster that expected, according to Douglas Porter, Chief Economist and Managing Director of Canadian investment bank, BMO Financial Group.
Despite initial concerns about the impact of COVID-19, Swire Shipping’s data shows only a marginal reduction in freight volumes. Alistair Skingley, the company’s Country Manager for Papua New Guinea and the Solomon Islands, tells Business Advantage PNG that the company is upgrading its offerings in the expectation of solid growth in 2021.