Foreign exchange has gone from being a big business problem to becoming a major impediment for all businesses in Papua New Guinea. What does the future hold for this and other challenges facing business?
Impediments: What’s really holding Papua New Guinea business back?
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26 Feb 2020 by Leave a Comment
One country, two economies: Papua New Guinea’s economic paradox
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6 Nov 2019 by 1 Comment
Is Papua New Guinea better understood as two economies rather than one? Two economists examine the complexity of the country’s position.
A change of leadership at PNG Power: what next?
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30 Aug 2019 by Leave a Comment
Acting Managing Director Carolyn Blacklock has resigned from state-owned utility, PNG Power. The announcement comes with the state-owned utility on the cusp of launching a new ‘reform agenda’.
Papua New Guinea’s new cabinet brings optimism to business community
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17 Jun 2019 by Leave a Comment
The new cabinet announced by Prime Minister James Marape has many sound choices, according to Paul Barker, Executive Director of the Papua New Guinea Institute of National Affairs. He tells Business Advantage PNG that there is optimism in the business community about the new government.
Papua New Guinea proposes foreign investment reforms
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6 Feb 2019 by 3 Comments
Last month, the Papua New Guinea Government tabled the Foreign Investment Regulatory Authority Bill in Parliament. What is the bill designed to achieve and why is the business community concerned? Business Advantage PNG investigates.
2019 Budget aims to broaden economy and increase expenditure and revenue
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14 Nov 2018 by Leave a Comment
The Treasurer, Charles Abel, has handed down the 2019 Budget, revealing a 12 per cent jump in revenues and a 9 per cent jump in expenditures. He announced changes to the income tax threshold, and an increase in capital expenditure.
Australia announces A$3 billion Pacific Infrastructure Bank package
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13 Nov 2018 by 4 Comments
The Australian Government has announced plans to set up an infrastructure bank as part of a A$3 billion suite of measures aimed at countering China’s influence in the southwest Pacific and lifting its own engagement in the region. Regional analysts say the funds need to go to Micro, Small to Medium Enterprises (MSMEs), as well as SMEs, and for small projects in remote areas.
Will Papua New Guinea’s successful sovereign bond issue improve the foreign exchange situation for business?
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2 Oct 2018 by Leave a Comment
The success of Papua New Guinea’s first US$500 million bond issue will depend on the government’s spending focus, according to Paul Barker, Director of PNG’s economics research think tank, the Institute of National Affairs. He tells Business Advantage PNG that the private sector has to get access to foreign exchange because of extended delays.
Government incentives for second Papua New Guinea gas project should be fewer than for PNG LNG, say analysts
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6 Mar 2018 by 2 Comments
The operators of the Papua project are expected to make a financial investment decision on the project in 2019. But now that Papua New Guinea has ‘proven itself’ as a good manager of major global projects, it should be able to negotiate less generous terms with the operators of the second LNG plant, say economists and investment analysts.
A revitalised dairy industry aims for cheaper products on Papua New Guinea’s supermarket shelves by October
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23 May 2017 by Leave a Comment
The first of 500 cows arrive in Papua New Guinea from New Zealand this week, (25 May) as a commercial-scale dairy industry gets closer to production in Central Province. And the CEO of Innovative Agriculture Industries, Ilan Weiss, says milk products will be on local supermarket shelves by October.
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