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Newsletter Issue 26th June 2015

Click here for this week’s newsletter, issued 26th June 2015.

Sharp rise in PNG visitor arrivals expected

Papua New Guinean tourism operators flew the flag in Australia last weekend at the South Pacific Tourism Exchange at Melbourne’s Convention and Exhibition Centre. Robert Upe reports visitor arrivals are expected to rise, due in part to cruise ships improving tourists’ perceptions of PNG. The South Pacific Tourism Exchange is the region’s largest travel and…

PACER-Plus could boost Pacific nations’ incomes by more than US$50 billion a year, says trade adviser

For the last six years, officials from 14 member countries of the Pacific Islands Forum have been negotiating with Australia and New Zealand to set up a free trade agreement, known as PACER-Plus. The Pacific’s Chief Trade Adviser on PACER-Plus is Ghanian-born Australian, Dr Edwini Kessie, who tells Business Advantage PNG that labour mobility and…

Overcoming chronic lack of skilled tradespeople in PNG requires more government funding

An analysis of foreign workers coming to Papua New Guinea since 2000 indicates a chronic lack of skilled tradespeople, according to Lae-based business leaders. While skills training initiatives are under way, an expected surge in mining projects over the next few years highlights the urgency for more skilled workers. The number of blue collar workers…

Meet the Pacific’s new man in Beijing

David Morris is the Pacific’s new Trade Commissioner to Beijing. He talks to Business Advantage PNG about the changing nature of China’s economy and the trade and investment opportunities for the Pacific Islands that can arise from being part of China’s new ‘Maritime Silk Road’. Australian-born David Morris is no stranger to promoting trade and…

Bright spots, but challenges remain for PNG’s mining industry

Despite some positive developments for the mining sector in Papua New Guinea, the industry continues to face funding challenges for critical exploration activity, the PNG Chamber of Mines and Petroleum’s Greg Anderson tells Business Advantage PNG. After sharing the pain of a global downturn in commodity prices during the past decade, Papua New Guinea’s mining…

Trukai investing tens of millions to produce PNG grown rice

Last month, Agriculture Minister Tommy Tomscoll told rice companies to start investing and producing rice in country. But, as the CEO of the country’s dominant producer tells Business Advantage PNG, Trukai has already committed to invest tens of millions of kina in rice production. The Papua New Guinea government’s new national rice policy focuses on…

PNG budget review welcomed

The PNG Government’s decision to review the 2015 Budget has been welcomed, while another prominent economist suggests further foreign investment can be attracted by improved policy settings. The PNG Government’s move, announced by Treasury Secretary Dairi Vele, follows credit ratings agency, Moody’s, changing PNG’s sovereign credit rating to a ‘negative’ outlook, after the fall in…

From the President’s Desk – 29 May 2015

LAE NADZAB ROAD The serious rain we have experienced in the last week has caused some major flooding in and around Lae but it was particularly noticeable in the 5 and 6 mile sections of the Nadzab Road, where the contractors are currently working on forming the new 4 lane road. The mud and debris…

Six things we learned at the Australia-PNG Business Forum

Trade Minister Richard Maru urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments. Business Advantage PNG reports from last week’s Australia–Papua New Guinea Business Forum in Lae. Maru was addressing the 39th annual conference of the Australia-Papua New Guinea Business Council and the Papua New Guinea Business…