Newsletter Issue 3rd October 2014
Click here for our latest newsletter, dated 3rd October 2014.
PNG road investment to total K7 billion over the next five years, but maintenance the challenge
Scheduled road projects in Papua New Guinea will cost around K7 billion over the next five years, according to David Wereh, Secretary of the Department of Works and Implementation, with almost K2.6 billion of works currently under way. But PNG’s poorly-maintained existing roads represent a ‘time bomb’ for the country. According to David Wereh, the […]
Companies struggle to pay bills,after the Bank of PNG rations kina
Restricting the margins at which the kina can be traded against the US dollar has had little positive effect, with some companies struggling to pay bills, as the central bank reportedly restricts the purchase of US currency, Manufacturers Council of Papua New Guinea CEO Chey Scovell tells Business Advantage PNG. Companies seeking to pay bills […]
Lae Chamber of Commerce takes a stance against the installation of a Heavy Fuel Oil Power Plant at Munum by Daewoo for PNG Power Limited
The Lae Chamber of Commerce Incorporated (LCCI) makes this submission in response to the Notice that appeared in the Newspapers on 8th September 2014. The Lae Chamber of Commerce represents a large proportion of business houses in the City of Lae, especially the large Manufacturing Companies. Therefore we are a major stakeholder in seeking […]
Newsletter Issue 26th September 2014
Click here for our latest newsletter, dated 26th September 2014.
Puma energy commits to PNG growth, rebrands first service station
Puma Energy is starting to show its colours in Papua New Guinea, with the rebranding of its first service station following the acquisition of InterOil’s downstream assets in PNG earlier this year. It’s part of a regional investment strategy, PNG General Manager Peter Diezmann tells Business Advantage PNG. Puma Energy Corporation has laid out plans […]
PNG economy facing ‘significant challenges’ as growth reaches fastest in 40 years
The Papua New Guinea economy is facing significant challenges, as growth reaches 20–22% next year, ANZ Asia-Pacific Chief Economist Glenn Maguire told this month’s 2014 Papua New Guinea Advantage Investment and Infrastructure Summit in Port Moresby. An increase in interest rates in the United States and a slowdown in China’s growth are the two key […]
Privatising PNG Power is necessary
A senior academic and head of the government’s research and think tank agrees it is time to privatise PNG Power Limited (PPL). Dr Thomas Webster, head of the National Research Institute (NRI), says the PNG Power problems that have come into the limelight recently had been festering for some time and the current Government’s announcement to privatise it […]
Fiji’s return to democracy expected to bring investment opportunities
Foreign investment in the Fiji economy is expected to return, following the first democratic election since the 2006 coup this week. Tourism, infrastructure and natural resources are three sectors expected to benefit, but economists and business leaders say that will depend on political and policy stability, as Kevin McQuillan reports. Fiji’s economic growth since its […]
Air Niugini and PNG Ports for partial sale
First Air Niugini, then PNG Power … then PNG Ports and the National Airports Corporation? The Papua New Guinea government is embarking on a grand plan to reinvigorate state-owned enterprises. But privatisation is not the only option to ensure SOEs function as viable entities. A White Paper will be released next month, outlining how the […]
Newsletter Issue 19th September 2014
Click here for our latest newsletter, issued 19th September 2014.
PNG’s Worldrisk Survey skyfall
PAPUA New Guinea has fallen from grace in a big way, as reflected in the 2014 RESOURCESTOCKS World Risk Survey. In the most comprehensive World Risk Survey yet undertaken, PNG slid from 30 last year to 61. PNG was among more than 70 countries rated according to financial and social risk, green and red tape, land access […]
