Australian companies optimistic about investing in Papua New Guinea but Reserve List poses a threat, say Business Council executives

Australian companies are optimistic about investing in Papua New Guinea says Philip Franklin, Head of the PNG branch of the Australia Papua New Guinea Business Council (APNGBC). But Peter Taylor, President of the Council, tells Business Advantage PNG that proposed changes to the Investment Reserve List is a concern for foreign investors.

Female entrepreneurs call for improvement in ‘ease of doing business’ in Papua New Guinea

The Editor of Stella magazine, Amanda Donigi, claims Papua New Guinea risks losing its young entrepreneurs unless business conditions are enhanced. Her comments are echoed by House of Xen founder, Xenia Peni.

In brief: LNG overtakes gold as top export and other Papua New Guinea news

LNG overtakes gold as PNG’s top export, number of female executive appointments in PNG public service low and Bank of South Pacific reports profit rise. Your weekly digest of the latest business news.

Foreign exchange controls affect Papua New Guinea business as ANZ calls for changes to kina trading range

As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar.

In brief: Oil Search rejects Woodside takeover bid as ‘highly opportunistic’, and other business stories

Analysts predict Woodside will up its takeover offer for Oil Search, Business leader estimates K1.5 billion in foreign currency waiting for processing, and NZ re-opens its trade office in Port Moresby. Your weekly digest of the latest business news.

In brief: Sovereign Wealth Fund & Corruption Commission legislation before parliament, and other business news

Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.

In brief: Papua New Guinea aims to strengthen business relationship with United Kingdom, and other business stories

O’Neill wants PNG to take advantage of global business opportunities, Australia provides additional development funds, and Air Niugini outsources Lihir airport services. Your weekly digest of the latest business news.

Six things we learned at Australia–Papua New Guinea Business Forum in Lae

Trade Minister Richard Maru has urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments.

Economic update: Papua New Guinea changes gear

Papua New Guinea’s economy is now emerging from a period of hiatus following the completion of its massive liquefied gas project. Andrew Wilkins talks exclusively to some of PNG’s top executives to find out their views on the economy.

Papua New Guinea Business Council members concerned at lack of foreign currency

The President of the Australia–Papua New Guinea Business Council says his members have expressed concern to Prime Minister they are unable to source enough foreign currency.