Rimbunan Hijau (RH) PNG

Prime Minister O’Neill says 2018 will encourage business development and create jobs, IFC identifies niche markets for tourism growth, and Aropa Airport edges towards night flights. Your weekly digest of the latest business news. 

James Lau, Managing Director of Rimbunan Hijau Group tells Business Advantage PNG that he sees positive developments with hotels, agriculture, gold and the country’s preparations for the 2018 APEC meeting. But he says continuing weakness in commodity prices will limit Papua New Guinea’s growth in the short to medium-term.

A boom in new restaurants is improving the quality and variety of dining options in Papua New Guinea’s capital, Port Moresby, as never before, observes Andrew Wilkins.

PanAust applies for Frieda River mining licence, new deal governing American access to the region’s tuna fishing and Chief Secretary to Government says Papua New Guinea’s economic fundamentals sound. Your weekly digest of the latest business news.

The hosting of the APEC Summit in Port Moresby in 2018 has sparked a flurry of investment in tourism infrastructure. It promises to kick start the country’s tourism industry as the nation’s capital gets more hotel rooms, airports are upgraded and a new tourism minister takes the helm.

Global and domestic factors have combined to slow Papua New Guinea’s economy. However, as Andrew Wilkins discovers, the Pacific nation’s business leaders are still confident about its future prospects.

The Chief Executive of the Papua New Guinea Forest Industries Association, Bob Tate, claims that PNG’s forestry sector is coming under increasing pressure. He points to a drop in demand from China, lower foreign capital investment and moves by the PNG government to lift industry turnover taxes.

Malaysia’s diversified Rimbunan Hijab Group is a major investor in Papua New Guinea. Managing Director James Lau talks to Business Advantage PNG about the company’s current construction projects, how its retail, agribusiness and forestry subsidiaries are performing, and the economic outlook for 2016.

In spite of the talk about an economic slowdown in 2016, Papua New Guinea’s capital, Port Moresby, is a city where plenty is still happening as 2015 comes to a close. Business Advantage International’s Andrew Wilkins reflects on recent discussions with Papua New Guinea business leaders.

Business welcomes the Agriculture Minister’s decision to temporarily lift a ban on some imported vegetables, but calls for more government support to lift production—and more consultation.