Lae Chamber of Commerce

The Pro-Active Voice of the Morobe Business Sector

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Author: The Editor

Ports Corp completes Lae wharf extension

PAPUA New Guinea Ports Corporation has completed the berth 3 extension project at the country’s largest and busiest port. The new port facility at Lae will be used for berthing of construction cargo vessels for mining in the Morobe and Highlands areas. Prime Minister Peter O’Neill officially opened the Lae port overseas wharf extension and […]

Papua New Guinea’s public debt noose

DEBT raised in the past two years by the Papua New Guinea government has been so immense it could never have been contemplated in the past. By PNG Report’s Inside Track columnist. According to the government’s 2014 Mid-Year Economic and Fiscal Outlook Report, the projected budget deficit blowout this year has widened by K372.5 million […]

Five things Papua New Guinea could learn from the BRICS nations

Brazil, Russia India, and China—the BRICs countries—provide a great example of four countries with very little natural geographical, cultural or historical ties, which have come together to focus on mutual opportunities and challenges. BRICS expert David Thomas outlines how Papua New Guinea and other Pacific nations could learn from the BRICs. BRICS 2014The four original […]

From the President’s Desk – 31st October

LAE CHAMBER OF COMMERCE CHRISTMAS FUNCTION As advised last week the LCCI will again put on a Christmas function this year. This function will be run conjointly with our member “International SOS Limited”, who will be bringing their Health Directors, to make a presentation of their operation as well as discussing the value of pre-employment […]

Opinion: Using the Central Bank to finance PNG’s deficit is a slippery slope

The Papua New Guinea economy is on the edge of a ‘slippery slope’, if the Bank of PNG finances government debt and continues to fix the exchange rate at too high a rate. Former Australian Treasury advisor Paul Flanagan argues rising inflation, falling foreign exchange reserves and declining private sector credit growth are compounding the […]

ICC BASCAP calls for stronger intellectual property rights enforcement in ASEAN

The International Chamber of Commerce (ICC) Business Action to Stop Counterfeiting and Piracy (BASCAP) group called today on the Association of Southeast Asian Nations (ASEAN) and its 10 member states to do more to promote the value of intellectual property (IP) as a key driver for the region’s growth and economic development, and to step […]

Dealing with debt,deficit and transparency: experts identify key 2015 Budget issues

The O’Neill government is preparing to deliver its 2015 budget, against a backdrop of rising government debt and rising expenditure. Business Advantage PNG asks what business needs and what it might expect. With income from agriculture and the resources sector down, business leaders and analysts are expecting a tough 2015. ‘We have low commodity prices […]

Finding Balance – Benchmarking the Performance of State-Owned Enterprises in Papua New Guinea

This is the first state-owned enterprise (SOE) benchmarking study to include Papua New Guinea (PNG). It has been undertaken at the request of the government of PNG in order to inform its efforts to improve SOE performance and contribute to the increased transparency in the sector. Participation in this study must be commended as a demonstration of the government’s willingness to identify and address the core issues within the SOE portfolio, as transparency is an essential precursor to successful reform.

PNG expands European economic engagement

PAPUA New Guinea’s relationship with the European Union is growing from being predominantly based on development support to increased trade and investment engagement through business cooperation, according to the prime minister. Peter O’Neill discussed the matter during a meeting with the European Union head of delegation to Papua New Guinea, ambassador Martin Dihm in Port […]