business-advantage-png - Tumblr blog

[business-advantage-png]

Papua New Guinea's decade of growth begins

As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us. ExxonMobil’s Kumul marine terminal at Caution Bay outside Port Moresby. PNG’s LNG exports…

[business-advantage-png]

PNG 100 CEO Survey breakfasts in Lae and Port Moresby [Photo gallery]

The results of the 2024 PNG 100 CEO Survey were presented to members of the Port Moresby and Lae chambers of commerce at separate business breakfasts last week. The meetings, which also served to launch the 2024 edition of the Business Advantage PNG annual magazine, featured presentations from Westpac’s Senior Economist Justin Smirk and Business Advantage International’s Publishing Director,…

[business-advantage-png]

Large-scale fabrication plant to underpin industrial park outside Papua New Guinea's capital

"This project will help prepare PNG for the Papua LNG Project and other major projects that follow it." Large-scale fabrication plant to underpin industrial park at Caution Bay outside Port Moresby #PNG #pngbusiness

Work has begun on Kumul Petroleum Holdings Ltd’s US$100 million steel fabrication plant just north-west of Port Moresby. In an exclusive interview, Managing Director Wapu Sonk outlines how the facility will boost Papua New Guinea’s manufacturing sector, and anchor a new Special Economic Zone in the Caution Bay area. According to Kumul Petroleum’s Managing Director Wapu Sonk, the plant will…

[business-advantage-png]

Editorial: Charting Papua New Guinea's innovation journey

'Innovation is only going to accelerate, as new technology matures and provides the building blocks for the next breakthrough' - Editorial: Charting Papua New Guinea's innovation journey #png #innovationpng #pngbusiness

Chatbots composing marketing slogans. Classrooms in the Cloud.  Digital governments. Andrew Wilkins reflects on the origins of Innovation PNG 2023, which is taking place in Port Moresby on 10 November, and explains the thinking behind it. BAI’s Andrew Wilkins A few months ago, we were trying to think of a punchy slogan to promote Innovation PNG 2023, the conference and expo taking place at APEC…

[business-advantage-png]

Why investors are turning to Mt Hagen, Papua New Guinea's third city

'Steamships in many ways is returning to the Highlands': Why investors are turning to Mt Hagen, Papua New Guinea's third city

Mt Hagen, Papua New Guinea’s third-largest city and the centre of the country’s populous Highlands Region, is once again starting to receive attention from investors. Business Advantage PNG discovers why. An artists’ impression of the new Steamships/Tininga Dobel Central development in Mt Hagen Credit: Steamships With an official population of just 47,064, the city of Mt Hagen in PNG’s Western…

[business-advantage-png]

Opinion: reforms and new responsibilities at the Bank of Papua New Guinea

The Bank of Papua New Guinea, the country's central bank, is undergoing notable changes. Its Chairman, David Toua, comments on what's behind the changes, the challenges faced by the bank and the road ahead for foreign exchange. #PNG #kina #pngbusiness

The Bank of Papua New Guinea, the country’s central bank, is undergoing notable changes. Its Chairman, David Toua, comments on what’s behind the changes, the challenges faced by the bank and the road ahead for foreign exchange. Bank of PNG Chairman, David Toua The staff of the Bank of Papua New Guinea (BPNG) have had to endure significant upheaval over the past two years, with the appointment of…

[business-advantage-png]

Economic update 2023: Papua New Guinea's year of gearing up

Economic update 2023: Papua New Guinea's year of gearing up #png #pngbusiness #economicupdate

With the worst of the COVID pandemic behind it, Papua New Guinea is preparing itself for a decade of sustained economic growth. While the investments that will drive this growth are still being finalised, business leaders tell Business Advantage PNG the country is already starting to get ready. Port Moresby’s old port site has been cleared for redevelopment by state-owned Kumul Consolidated…

[business-advantage-png]

Marape flags new resources regime for Papua New Guinea

'In 2025, we will shift all licenses and projects that have had no substantial progress into a new hybrid production-sharing regime': Marape flags new resources regime for Papua New Guinea #png #pngbusiness

Opening the 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney, Prime Minister James Marape has warned investors that changes are coming to Papua New Guinea’s resources regime. Business Advantage PNG reports from the conference. Prime Minister James Marape addressing the 16th PNG Mining and Petroleum Investment Conference in Sydney this week. Credit: BAI Developers of the…

[business-advantage-png]

Papua New Guinea's resources sector to gather in Sydney

Next month's 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney (5 to 7 December) will mark the event's return for the first time since the COVID-19 pandemic. Business Advantage PNG previews what to expect #pngbusiness #mining #resources #png

Next month’s 16th Papua New Guinea Mining and Petroleum Investment Conference in Sydney (5 to 7 December) will mark the event’s return for the first time since the COVID-19 pandemic. Business Advantage PNG previews what to expect. The conference will be hoping for an update on the progress with reopening the Porgera gold mine. Credit: Zijing Mining The 16th Papua New Guinea Mining and Petroleum…

[business-advantage-png]

What does Papua New Guinea business want from the new Marape government?

What does Papua New Guinea business want from the new Marape government?

With its majority established in Parliament and its ministry appointed, Papua New Guinea’s Marape government is now getting back to the business of running the country. Key business leaders tell Business Advantage PNG what they think its priorities should be. Foreign exchange availability continues to be a challenge for business in PNG. Credit: VM_Studio/iStock With 18 months before any potential…

[business-advantage-png]

Green shoots and structural shifts

'Busier international flights are not the only sign business people are chomping at the bit to get going again.' Green shoots and structural shifts

While we’re still waiting for major projects to commence, some key data is suggesting Papua New Guinea’s economy has turned a corner. ‘We expect a very strong second half of the decade when Papua LNG and the gold/copper Wafi-Golpu mine come online, work on the upstream P’nyang fields commence and investments in electrification, telecommunications and renewable energy projects ramp up … ‘In the…

[business-advantage-png]

Economic update: cautious optimism in Papua New Guinea as major projects take shape

Cautious optimism in #png as major projects take shape #pngbusiness

With major new resources projects still in play, and new players entering the market, this election year will be one to watch in Papua New Guinea. Business Advantage PNG talks to the country’s business leaders about the year ahead. The fertile Markham Valley in Morobe Province has enormous potential as a centre for agribusiness. Credit: IFC In 2020, PNG’s economy struggled under the triple…

[business-advantage-png]

What are Papua New Guinea's best-performing listed companies?

What are Papua New Guinea's best-performing listed companies? #PNG #pngbusiness

With the reporting season for the 2021 financial year in Papua New Guinea over, which of Papua New Guinea’s listed companies performed the best last year? Analysis from stockbroker JMP Securities tells us, and also gives us a unique view on how the market has performed over the past year. PNGX-traded stocks, and their performance in 2021. Credit JMP Securities The financial year in Papua New…

[business-advantage-png]

Getting investment in Papua New Guinea to return

Getting investment in Papua New Guinea to return #pngbusiness #PNG

Local and international investment trends suggest there is still a long way to go before the economy returns to pre-COVID levels, but some trends offer optimism and Papua New Guinea could take advantage of them. Global FDI flows collapsed in 2020, falling 42 per cent from US$1.5 trillion in 2019 to an estimated US$859 billion in 2020. ‘Such a low level has not been seen since the 1990s, and…

[business-advantage-png]

Enga Province landowners and provincial government sign Porgera agreement

Enga Province landowners and provincial government sign Porgera agreement #PNG #pngbusiness #pngmining

Landowner and provincial government-owned consortium Mineral Resources Enga has finally signed the Porgera Project Commencement Agreement, an essential step in the ongoing process to reopen the Porgera gold mine in Enga Province. Further agreements must follow if the mine is to reopen, however. Porgera. Credit: Zijing Mining The Porgera Joint Venture has announced that Mineral Resources Enga, the…

[business-advantage-png]

Kina Bank's major play for Papua New Guinea's SME market

Kina Bank's major play for #PNG's SME market #pngbusiness #smes

Not party to the government’s subsidised loan scheme for small and medium-sized businesses, Kina Bank has unveiled its own range of products aimed at supporting SMEs in Papua New Guinea. Chief Executive Officer, Greg Pawson, explains the thinking behind the move to Business Advantage PNG. Kina Bank’s Greg Pawson. Business Advantage PNG: Successive PNG governments have had a long-term plan to…

[business-advantage-png]

The challenges of getting to a win/win deal

'While business in PNG has shown itself generally supportive of the aspirations sitting behind the 'Take Back PNG' agenda, the practicalities are not without their challenges.' The challenges of getting to a win/win deal #PNG #pngbusiness

With less than nine months until PNG’s National Elections, set for July 2022, the ‘Take Back PNG’ agenda of the Marape Government is moving into new areas. Will PNG have its own bullion bank eventually?  Credit: Pixabay Prime Minister James Marape. Credit: Office of the Prime Minister and NEC ‘We have been a gold-producing nation since the 1920s and 30s … Our gold has continued to flow out – and…