With improved export receipts and the prospect of major resources projects starting in 2026, Papua New Guinea’s economy is set for a sustained period of growth. Andrew Wilkins speaks with business leaders in the country about their expectations for the year ahead.
Is it now or never for Papua New Guinea’s Sovereign Wealth Fund? Alyssa Leng and Stephen Howes of the Australian National University’s Development Policy Centre tell us what could be lost if PNG doesn’t act now.
Future Budgets expected to see significant tax changes, Sovereign Wealth Fund to be finalised in 2018, and PNG Air enters freight market. Your weekly digest of the latest business news.
Government puts out tenders for the first part of a K3 billion Highlands Highway upgrade, demand for foreign currency falls, and report that 31 per cent of log exports from illegal SABLs.
The kina has fallen in value this year, but Papua New Guinea’s dependence on commodity exports means that it can be expected to fall further, says Rohan Fox, Lecturer and Research Fellow at the University of Papua New Guinea’s Division of Economics. He tells Business Advantage PNG that the country faces a difficult task managing the impact of sharp fluctuations in commodity prices.
Ban imported vegetables suspended for three months, Mainland CEO calls for tougher bio security measures, and Oil Search confident, despite low oil prices. Your weekly digest of the latest business news.
Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.
Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.
Motukea Island Port project expressions of interest called for, PM dismisses ‘secret deals’ with Rio Tinto, and Star Mountains project JV launches exploration campaign. Your weekly digest of the latest business news.
Papua New Guinea’s Parliament is likely to approve establishing the long-awaited Sovereign Wealth Fund by June, after unanimously voting for its enactment at its first reading last week.
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