The PNG microfinance industry has the lowest loans-to-deposit ratio in the Pacific, according to Dek Joe Sum at the Australian National University’s Development Policy Centre. He argues the government needs to develop a more comprehensive policy to address the lack of lending.
Retailer and wholesaler TE (PNG) is a diversified and adaptable company, says new Managing Director Robbie Huxley. He tells Business Advantage PNG he decided earlier this year to buy the 60-year-old company because he sees a positive future for PNG
In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union’s current trading arrangements with PNG after ‘Brexit’. Meanwhile, Prime Minister O’Neill has flagged ‘huge incentives’ for investments in agriculture and tourism, Business Advantage PNG reports from London.
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
Hausples.com.pg has released its Real Estate Survey 2018, which shows that the biggest challenge for the market is supply side factors such as land titles, infrastructure and private sector investment. But it says these issues ‘are slowly being addressed’ and that there is ‘unequivocal market demand for housing at various price points.
Paint company Akzo Nobel is taking a new strategic direction in Papua New Guinea, according to Chief Executive Officer, Navin Raju. He tells Business Advantage PNG that the prospects for growth are sound.
Diversified corporate and retail enterprise Brian Bell Group is celebrating its 60th year in 2018. Chairman Ian Clough tells Business Advantage PNG the company is investing in people, infrastructure, and new retail strategies in preparation for its next phase of growth.
Accessing finance to develop land in Papua New Guinea is the biggest stumbling block to creating wealth, jobs and an economic base for future generations. In New Zealand, Maori economic development is forging ahead, with the active support of banks and investors. In the second of a two-part series, Kevin McQuillan examines NZ banks’ lending criteria.
PNG was the second-largest global grower of vanilla last year, producing about 250 metric tonnes, but leading processor and exporter, Paradise Spices, is calling for regulation of the sector to resolve supply and quality issues. Karina Makori, the company’s General Manager tells Business Advantage PNG inflated prices have halted production of vanilla products for the past nine months.
Papua New Guinea’s second LNG plant is expected to be ready by 2023-2024, according to Total Managing Director, Philippe Blanchard. He told Business Advantage PNG the company is also keeping its eyes open for other energy plants in PNG.