Companies are reducing the size of the businesses, now using excess capital to acquire domestically but may be switching to starting up operations next year. They were some of the observations in a round table discussion on Papua New Guinea’s investment environment at the Business Advantage Invest Forum in Brisbane.
Proposals for investment in Papua New Guinea’s forestry sector are almost as high as in its mining and petroleum sector, according to figures from the Investment Promotion Authority. The IPA has also flagged a crackdown on compliance.
Thermal power station launched this week, PNG DataCo and Telikom share fibre optics, Mainland Holdings expands wheat production. Your weekly digest of the latest business news.
Concerns have arisen about the foreign ownership test in Papua New Guinea after the Investment Promotion Authority (IPA) published advertisements indicating it will be taking a close look at what is happening. Observers see it as a sign of a tougher stance from the regulator.
A new Deputy Governor of Bank PNG, an acting Managing Director at the Investment Promotion Authority, a new regional Managing Director at BOC, Director resigns from BSP
Figures presented by the Investment Promotion Authority at the PNG Advantage Investment Summit show a ten-fold increase in investment from foreign companies in Papua New Guinea over the past decade.
Bougainville Copper to seek formal acknowledgment of Bougainville mining rights, Post PNG pays first dividend, and low-cost ‘squatter’ housing project in Fiji. Your weekly digest of the latest business news.
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.
The Bougainville government has established an investment bureau to attract national and international businesses to the province.