In an interview with Business Advantage PNG’s Andrew Wilkins, the Prime Minister Peter O’Neill says he is looking for deals in LNG and mining projects that will benefit all parties. In the first of a two part series, O’Neill says his government is investing to diversify the economy.
The Asian Development Bank will start redeveloping the entire Highlands Highway simultaneously rather than doing it in sections, according to David Hill, Country Director for the ADB. He outlined the ADB’s focus on improving both physical and digital connectivity in Papua New Guinea.
A report by consultancy McKinsey & Co. says activity in mining is strengthening globally. But it identifies nine mistakes in the downturn that should be avoided.
Dame Meg Taylor Secretary General of the Pacific Islands Forum Secretariat argues that the Pacific region is at a critical juncture in its history. She argues that because of political ‘jousting’ there ‘has never been a more important nor opportune time’ to act as one Blue Pacific continent.
Papua New Guinea is raising tariffs at the same time it is hosting APEC, according to Rohan Fox, Stephen Howes and Maholopa Laveil. The ANU researchers say this is at odds with the APEC agenda.
Port Moresby-based retailer/wholesaler Supreme Group found itself needing products and services it couldn’t source in Papua New Guinea, so it decided to create them. Group Managing Director Sanjay Shah, tells Business Advantage PNG that the group has grown quickly and is anticipating more diversification.
To get investment into Papua New Guinea businesses, sound governance is essential. That was the view expressed by super fund managers, bankers and advisers at Business Advantage’s Investment conference in Brisbane.
The Papua New Guinea government has begun spruiking its sovereign bond issue with a series of meetings with investors in Singapore, Hong Kong, London and the US, led by Treasurer Charles Abel. However, while Standard and Poor’s has given the issue a ‘B’ stable rating, others say the government may have to offer a premium to attract investors.
Analysis of test results from a potentially new LNG find at the Barikewa-3 well in the Papua New Guinea Forelands is underway but it’s too early to say how that gas will be commercialised, according to well operator, Oil Search. Meanwhile, the signing of a long-term contract for gas from PNG with China confirms demand for gas from China will continue well into the 2020s.
A recent salary survey has identified the need for investment in local talent to support better outcomes for the country’s professionals and organisations. The 2018/19 Papua New Guinea Salary Survey Report by human resources consultancy Peopleconnexion PNG surveyed professionals across the country about salaries and attitudes at work.