Tomscoll says government must invest in agriculture if the economy is to survive, government waiting for Chinese funding of PMIZ a year after launch, and O’Neill discusses closer ties with Thailand. Your weekly digest of the latest business news.
National Research Institute
Man-made constraints to business are the real obstacles to business development, according to Dr Charles Yala, the Director of the National Research Institute. In an address to the Australia-PNG Alumni Conference, Dr Yala said the country’s leaders need to ‘think outside the box’ and harness ‘our natural beauty and landscape’.
Demand for residential houses among the growing urban population, especially in Port Moresby, has increased but the supply of quality and affordable houses has seen prices rise ‘exhorbitantly’, according to a new survey of the housing market by consultancy Niugini Land and Property.
Papua New Guinea’s debt levels relative to the size of its economy could actually go down if the government increased spending, according to Satish Chand, Professor of Finance in the School of Business at the University of New South Wales. Mounting an argument that goes against conventional wisdom, he contends that as long as the government investment is well managed and receives a strong return, the long term benefits will outweigh the short term risks.
Total SA Chairman says company is planning to commence construction of LNG plant in 2018, Ramu NiCo ordered to stop operating nickel mine and Harmony Gold reports ‘continuing exploration success.’ Your weekly digest of the latest business news.
With the Papua New Guinea Government highlighting the need for more affordable housing in the country, not-for-profit organisation, Community Housing, believes it has the solution.
The number of foreign workers coming to Papua New Guinea is growing, with an annual net gain of up to 34,000 since 2007. Carmen Voigt-Graf reports that on recent growth rates, The Philippines will soon overtake Australia as the main source of foreign workers.
Motukea Island a ‘suitable site’ for Port relocation, majority of Papua New Guinea SMEs in retail, and PNG first Pacific nation to join alliance. Your weekly digest of the latest business news.
A new Chairman for Santos, the Director of the National Research Institute to stand down, the CEO of the PNG Rugby League quits.
Production issues hit Newcrest, Digicel launches cloud-based product, and Mitsui delivers PNG LNG carrier. Your weekly digest of the latest business news.