Home building in Papua New Guinea is set to accelerate sharply, according to Matthew Care, Chief Executive and founder of the real estate website Hausples.com.pg, which has an expo in Port Moresby this weekend. He tells Business Advantage PNG that the growth is being driven by pent-up demand.
Airport upgrade to see night flights and early landings at Western Highlands airport, call to properly fund the fight against coffee berry borer, and Tkatchenko moves on illegally approved land sales. Your weekly digest of the latest business news.
New directors at Bougainville Copper and Nautilus, senior appointments at Allens
The Asian Development Bank has begun its decade-long US$1 billion investment in the Highlands Highway, according to David Hill, the bank’s Country Director for PNG. He says the ADB is also planning significant investment in the health and civil aviation sectors.
LNG prices have surged but oil prices are stable, while cocoa prices are up but coffee is down. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
The government-owned Port Moresby water treatment company Eda Ranu is looking to bring more of its operations in-house. Chairperson Mary Karo tells Business Advantage PNG that preparations are also being made for APEC 2018.
As Horizon Oil awaits government and regulatory approval for their mid-sized Western LNG project, CEO Brent Emmett says it is considering using Kumul Petroleum’s alternative pipeline proposal, but wants assurances the pipeline is viable before committing.
New CEO at Pacific MMI
The Papua New Guinea economy is unlikely to rebound strongly before 2020, according to a report by the World Bank. It forecasts steady, but unspectacular, growth.
While finance or access to capital is an issue for young entrepreneurs, you can build a business with little to no capital, says Roberta Morlin, founder and co-owner of KLM Consulting, which provides marketing research and technology consulting. But financial literacy is the key, adds Melbourne consultant, David Martin.