Two Chinese companies to build Ramu 2 power project, 95 per cent of logs sent to China, and Lae business leaders welcome ADB loan for key roads. Your weekly digest of the latest business news.
Lae Chamber of Commerce
The Papua New Guinea economy is not likely to improve greatly in the first half of the year, says Alan McLay, President of the Lae Chamber of Commerce. But he believes companies in Lae – PNG’s manufacturing and logistics hub – remain hopeful of an upturn and he expects some positive developments with power provision.
Papua New Guinea has risen 14 places overall in the World Bank’s annual report on ‘Ease of Doing Business’, primarily in the areas of starting a business and getting credit.
The minimum wage in PNG will rise to K3.50 an hour from 1 July, from the current rate of K3.36.
Lae business leader warns of job cuts if forex problem not solved soon, Tourism Minister says PNG lags behind Vanuatu and Fiji in tourism spend, and 1,000 SMEs to close when asylum seeker centre closes. Your weekly digest of the latest business news.
Papua New Guinea’s two major cities, Port Moresby and Lae, are the heartbeat of the economy. David Conn, Chief Executive of the Port Moresby Chamber of Commerce and Industry (POMCCI) and Alan McLay, President of the Lae Chamber of Commerce (LCCI) reflect on the changes that have occurred in their respective cities over the last decade.
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.
Agriculture Minister says annual investment in agriculture is just K150 million a year, call for mining sector style tax incentives for agriculture, and Leaders’ summit critically important, says O’Neill. Your weekly digest of the latest business news.
Visas on arrival to be available for Australian tourists, Morobe Governor to suspend trading licences for shops using street vendors, and corruption cases net K25 million for government coffers. Your weekly digest of the latest business news.
Unrest in Papua New Guinea’s second city, Lae, has caused major disruptions for the city’s business community this week. Fortunately, as Lae Chamber of Commerce President Alan McLay told Business Advantage PNG, Lae has avoided serious damage and things are now returning to normal.