Manufacturers survey: adapting to tougher economic conditions

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Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.

K K Kingston sees opportunities in tough times

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Economic conditions in Papua New Guinea may be challenging but Michael Kingston, Chief Executive of diversified manufacturer K K Kingston, tells Business Advantage PNG that the company’s diversified operations give it some strategic options. He also says a weaker exchange rate may also open up opportunities.

Third stage of minimum wage increase for Papua New Guinea workers effective from July

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The minimum wage in PNG will rise to K3.50 an hour from 1 July, from the current rate of K3.36.

In brief: Pacific Marine Industrial Zone gets the go ahead, and other business stories

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Government tells Chinese company to start building Madang’s Pacific Marine Industrial Zone, new Tourism Minister unimpressed with Tourism Promotion Authority and second LNG ship is named Kumul. Your weekly digest of the latest business news.

Wafi-Golpu gold mine ‘a boon’ for Morobe Province and Papua New Guinea, say business leaders

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Businesses in Morobe Province and Papua New Guinea will benefit immensely from the proposed Wafi-Golpu gold and copper mine, according to business leaders in Lae.

People moves: KK Kingston

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A new board Chairman and director at KK Kingston

‘One building at a time’: Papua New Guinea’s K K Kingston prepares for next wave after consolidation

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For the last 18 months, leading Lae manufacturer K K Kingston has been consolidating and restructuring. CEO Michael Kingston talks to Business Advantage PNG about the company’s strategy, his optimism for the future, and the issues facing businesses in Papua New Guinea.

Overcoming chronic lack of skilled tradespeople in Papua New Guinea requires more government funding, say industry leaders

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An analysis of foreign workers coming to Papua New Guinea since 2000 indicates a chronic lack of skilled tradespeople, according to Lae-based business leaders. While skills training initiatives are under way, an expected surge in mining projects over the next few years highlights the urgency for more skilled workers.

PNG Manufacturers look to the future

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There is no question that Papua New Guinea’s manufacturers-which account for about 9% of the country’s GDP – have been caught up in the general downturn in the country’s economy, with a combination of lower investment in the mining and petroleum sectors, lower commodity prices and a stronger currency slowing growth and reducing domestic demand.

Papua New Guinea manufacturers’ vote of confidence

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While Papua New Guinea’s economy has slowed in the past year, many of the country’s manufacturers continue to see growth as the longer-term trend, and are investing in new plant, new products and new marketing approaches.