An K331 million undersea cable linking Papua New Guinea, Solomon Islands and Australia is expected to be up and running by the end of 2019. It follows concerns by Australian officials that if China’s Huawei telco built the project, it could access Australia’s telecommunications infrastructure, creating national security concerns.
The Director-General of the World Trade Organisation (WTO), Roberto Azavedo, has described world trade rules as being tilted towards the interests of more powerful countries. Speaking in Port Moresby recently, he said it is up to the private sector to lobby governments to act on its behalf.
New energy projects in the Asia Pacific are creating workforce challenges according to Calum Smith, Senior Vice President of Asia Pacific at HR consultancy, Airswift. In terms of roles, he says no other area in energy is growing as fast as renewables.
Horticulture is one of Papua New Guinea’s most prospective industries. Nalau Bingeding reports on a grassroots enterprise that has the potential to grow in PNG.
Papua New Guinea has untapped leisure tourism potential, according to Marc Ehler, recently appointed Group General Manager of Coral Sea Hotels. After a busy APEC year, he tells Business Advantage PNG he is expecting greater competition in 2019.
Bonapas Onguglo has been working as a trade analyst at the United Nations Conference on Trade and Development (UNCTAD) since 1984, advising African governments how to expand their economies. He sees new opportunities in agribusiness and the ‘ocean economy’.
Papua New Guinea’s mandated debt levels are fiercely debated but, according to David James, Managing Editor of Business Advantage PNG, most countries are far less prudent. Could concentrating on the national debt distract from another problem—the lack of an international market for the country’s financial assets?
The Chief Executive of copper and gold producer Ok Tedi Mining, Peter Graham, believes the Papua New Guinean company will enjoy a ‘sweet spot’ in the next few years. He says efficiency gains have substantially improved the mine’s competitiveness.
The Chairman and founder of telecommunications company Digicel, Denis O’Brien, describes Papua New Guinea as a vibrant country that is a ‘fantastic location’ for investors. But he says the physical terrain also made it his company’s most challenging market.
Offshore investment by Papua New Guinea companies remains comparatively small, but there are opportunities. One banking executive suggests it as an important way local financial institutions can diversify.