The Papua New Guinea government has set up a new authority to oversee the restoration of services and infrastructure, following the February 26 earthquake. As humanitarian relief work continues, analysts expect GDP to fall slightly.
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Given that there is no investment currently, what is needed to get Australian institutional investors involved in Papua New Guinea? Stephen Nash, former Chief Investment Officer for Nambawan Super, examines one possible initiative: risk sharing.
The Mineral Resources Development Company (MRDC) was formed in 1975 and is as old as Papua New Guinea itself. Chief Executive Augustine Mano tells Business Advantage PNG that the enterprise has a wide mandate.
There are many pitfalls for the unwary when dealing with other countries’ money says Stephen Massa, Head of the PNG Office for law firm Dentons.
Work at the Misima gold project has commenced, with Kingston Resources planning to extend the current resource and develop new mining areas. Kingston Resources Managing Director, Andrew Corbett, tells Business Advantage PNG he expects drilling programs to commence in April.
To remain impartial, the Papua New Guinea Government should not be a shareholder, but only maintain regulatory oversight of mining projects, according to geologist and mining consultant, Jerry Nombri Garry. He tells Business Advantage PNG, there are other ways for the country to derive healthy revenues from mining projects.
Loloata Island Resort in Bootless Bay, near Port Moresby, is getting a stylish makeover, with the help of the Papua New Guinean super fund, Nasfund.
For more than 40 years, ABC journalist Sean Dorney has been reporting on Papua New Guinea and the Pacific. After he was diagnosed with motor neurone disease last year, friends and colleagues gathered in Brisbane to pay tribute to his life and work.
Software entrepreneur Samson Korawali has helped establish five start-ups and a digital consultancy located in Australia and Papua New Guinea. He tells Business Advantage PNG that the country can greatly benefit from developing its online business capacity.
The fate of some major projects will be critical for the future of the Papua New Guinea economy over the next decade. In the second of a two-part series, Andrew Wilkins discusses the implications.