The Chairman of Papua New Guinea’s Independent Public Business Corporation (IPBC), Paul Nerau, has flagged a ‘tsunami’ of government-backed development projects worth billions of kina, including the relocation of Port Moresby’s port and gas-generated electricity. Now that is up and running, it is time to look at other infrastructure projects and ensure they are built and managed professionally, he said, and that would involve a ‘second tsunami’ of investment, involving telecommunications, ports and energy. Major

On 8 October 2014, the International Chamber of Commerce (ICC) and the Center for Strategic and International Studies (CSIS) hosted an event in Washington D.C. on the outlook of the upcoming G20 Summit in Brisbane. The event brought together Australian and US government officials, business leaders and international policy experts to discuss expectations for the Australian G20 Summit to take place next month. In the run up to the Leaders Summit, ICC and CSIS co-hosted

As part of the 2012 Alotau Accord, the O’Neill Government agreed to establish an Infrastructure Development Authority to ‘take ownership’ of Cabinet decisions and oversee major infrastructure projects in Papua New Guinea. Business Advantage PNG spoke recently to the authority’s interim Managing Director, John Kaio. Business Advantage PNG (BAPNG): What role will the Authority play in helping ensure infrastructure projects in which the government participates are delivered in an appropriate way? John Kaio (JK): The authority

Papua New Guinea’s largest cocoa grower, trader and exporter, Agmark, says cocoa yields in East New Britain could double, as a result of new technology arising from the battle to recover from the impact of the cocoa pod borer. The province used to be the chief provider of cocoa, with annual yields of more than 25,000 tonnes until the cocoa pod borer (CPB) hit. More than 80 per cent of cocoa farmers abandoned their plantations

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 main focuses of the Department of Works and Implementation’s road building program over the next five years were rebuilding the

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 are being told they can only buy in five thousand kina amounts, the Chief Executive of the Manufacturers Council of

  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 the provision of adequate quality electricity power to Lae City. As such we have seen the provision of adequate electricity

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 that it believes will ensure the company plays an important role in the future of Papua New Guinea’s petroleum industry.

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 risks for the global economy and PNG, says ANZ’s Glenn Maguire. ‘The US has had extraordinarily low interest rates for