Medium Term Development Plan for Papua New Guinea points to sharp economic stimulus

The Papua New Guinea government is planning to sharply increase its economic stimulus, according to the Medium Term Development Plan III. It envisions a ‘strategic shift’ in Budget allocations.

Higher commodity prices are boosting Papua New Guinea’s economy, says ADB economist

The Papua New Guinea economy is set to grow steadily, according to Edward Faber, Country Economist for the Asian Development Bank (ADB). He told the Business Advantage PNG Investment Conference in Brisbane that the fate of the economy heavily depends on export prices.

Agmark MD outlines recipe to repair Papua New Guinea’s cocoa industry

Papua New Guinea’s cocoa industry could be back to its 1970s levels if it had a strong cocoa grower-based Cocoa Board, more farmer training and increased investment. That is what John Nightingale, Managing Director of Agmark, told the country’s first-ever agricultural summit, held in Port Moresby last month.

In brief: Design of floating LNG plan underway, and other business stories

Kumul Petroleum signs MOU for design of floating LNG plant,  K64 million tourism support for Milne Bay and ENB provinces, and BSP reports K185 million Q3 profit. Your weekly digest of the latest business news.

World Bank forecasts continued challenges for Papua New Guinea economy

The Papua New Guinea economy is unlikely to rebound strongly before 2020, according to a report by the World Bank. It forecasts steady, but unspectacular, growth.

In brief: Tolukuma to go into full production and other business news

Gold mine to go into full production, royalties scrutiny and better access to basic infrastructure. Your weekly digest of the latest business news.

Inaugural cocoa show rewards excellence in Papua New Guinea cocoa production

Cocoa is Papua New Guinea’s third-largest agricultural export. The inaugural Cocoa of Excellence show held recently in Kokopo focused on improving the quality of cocoa production to better meet international market requirements.

In brief: New Lae power station being launched this week, and other business news

Thermal power station launched this week, PNG DataCo and Telikom share fibre optics, Mainland Holdings expands wheat production. Your weekly digest of the latest business news. PNG Power’s Acting CEO Alex Oa says the new 30-megawatt thermal power station at Munum just outside Lae city in Morobe Province is expected to be commissioned this week. PPL is confident […]

Opinion: More investment and reforms needed in Papua New Guinea agriculture

Papua New Guinea’s agricultural sector is the backbone of the economy and a substantial contributor to national income, Steve Woodhouse, host of EMTV’s ‘Farming PNG’ program, tells Business Advantage PNG. He calls for changes to the regulatory bodies.

The Solomon Islands are ripe for growth, says the chair of its chamber of commerce and industry

The Solomon Islands’ economy grew by three and a half times between 2003 and 2016. In the first of a two part series, Business Advantage PNG looks at the challenges and opportunities facing the emerging nation.