Westpac’s Senior Economist Justin Smirk has been studying Papua New Guinea’s economy for over 20 years. He recently provided the 2023 Business Advantage Investment Conference with six things businesses should understand about PNG’s economy, as we wait for the next wave of resources investment to begin.
Some key Papua New Guinea state assets, including the site of Port Moresby’s old port, are being readied for redevelopment, with private sector investment being sought. The move is being guided by a new investment strategy from state holding company, Kumul Consolidated Holdings.
Since launching as the new kid on the block in 2020, Nuigini Assurance has become a significant player in the country’s competitive insurance sector. Shareholder and interim CEO, Opi Loi, walks Business Advantage PNG through the key drivers of its success so far, and its plans for growth.
Investment and partnership opportunities were a focus at this year’s 2023 Business Advantage Papua New Guinea Investment Conference in Brisbane, with numbers exceeding pre-COVID levels.
With a new strategy to manage Papua New Guinea’s foreign exchange shortages expected soon, the Bank of Papua New Guinea’s Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country’s currency is not on the cards.
Papua New Guinea’s Mid-Year Economic and Fiscal Outlook shows inflation slowing, Airbus wins race to replace Air Niugini fleet, while Securities Commission revokes Melanesian Trustee Services Limited’s trustee license. Your business news in brief.
New Partner at KPMG PNG, CTSL announces new Chair and board, the National Agricultural Research Institute has a new Director-General, new directors at FinCorp, and Mayur Resources’ cement project gets its own CEO.
To cater for growing global demand for organically-grown vanilla, Madang-based exporter Kamapin is expanding its support for Papua New Guinea’s vanilla growers. Business Advantage PNG spoke with Managing Director, Dr Nancy Irwin, about the crop’s potential.
In direct response to the ongoing disruption of fuel supplies in Papua New Guinea, Petroleum Minister Kerenga Kua has declared an extraordinary 30-day State of Emergency.
Energy regulator announces an increase in power prices to support the rehabilitation of PNG Power, Nambawan Super threatens to lock out its government tenants and Wafi-Golpu negotations continue. Your business news in a nutshell.