After almost a decade of no increases and a lengthy consultation period, the Minimum Wages Board has declared a landmark increase in Papua New Guinea’s minimum wage. Charlotte Armstrong reports.
Lae Chamber of Commerce
John Rosso, Papua New Guinea’s Deputy Prime Minister and Member for Lae, speaks to Lemach Lavari about recent developments in the busy port city, his vision for its future, and plans for PNG’s 50th anniversary of independence.
Business leaders are not quite ready to call it, but there are promising signs as Papua New Guinea celebrates its 50th anniversary of independence. Business Advantage PNG spoke with the country’s top CEOs to learn more about current business conditions.
Day 2 of the 2024 Business Advantage PNG Investment Conference featured top speakers from across government and business, including Papua New Guinea’s Prime Minister James Marape, state-owned enterprises such as Air Niugini and PNG Ports and business chamber presidents.
In spite of the challenges, Papua New Guinea’s second city, Lae, is experienced some significant new investments. Business Advantage PNG sits down with John Byrne, President of the Lae Chamber of Commerce, to discuss the state of play in the country’s “engine room”.
The major redevelopment of the airport that serves PNG’s second city, Lae, means the country now has a second airport – Nadzab Tomodachi – capable of welcoming international flights. Business Advantage PNG visits the new facility.
A landmark memorandum of understanding between the PNG government and the Wafi-Golpu Joint Venture participants, Newcrest Mining and Harmony Gold, marks the key step towards the granting of a special mining lease for the Wafi-Golpu copper-gold mine, the application for which was first lodged back in August 2016.
The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.
With its majority established in Parliament and its ministry appointed, Papua New Guinea’s Marape government is now getting back to the business of running the country. Key business leaders tell Business Advantage PNG what they think its priorities should be.
John Byrne, President of the Lae Chamber of Commerce, tells Business Advantage PNG that, although there is an underlying level of confidence in PNG’s second city, infrastructure projects and investment are urgently needed.