Housing is in high demand in Papua New Guinea, especially in Port Moresby and Lae. Large housing developments can increase supply, but regulators and developers must work together to reduce the costs, argues the PNG National Research Institute’s Logea Nao.
Secretary of the Department of Land and Physical Planning, Benjamin Samson, talks to Business Advantage PNG about how his department’s move into e-government might increase revenue and make life easier for business.
During May, forums were run in Port Moresby, Lae, Mt Hagen and Kokopo to solicit public responses to the Papua New Guinea government’s new land bill. The intent of the new bill is to protect the rights of customary landowners, by extinguishing any State leases, mortgages or sub-leases held by non-citizens. But the consequences for PNG industry and the economy could be dire, some observers are saying.
Banks trading ‘well and above’ preferred kina rate, minister wants business contracts under K10 million to be reserved for Papua New Guineans, and Bakani says reserves will last seven months. Your weekly digest of the latest business news.