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

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 with other State-owned Enterprises (SOEs) was welcoming news. However, he says it is not clear what aspects of PNG Power

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 2006 coup has been a mixed bag. Each of the four coups in Fiji has seen a drop in GDP

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 sell-offs will proceed, the Public Enterprise and State Investment Minister, Ben Micah told last week’s Papua New Guinea Advantage Investment

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 and claims, infrastructure, civil unrest, natural disasters and labour relations. Of the countries rated, only the Democratic Republic of Congo,

Telephones to LCCI Office You are probably wondering why you have not been able to contact to the LCCI Office by Phone. Last week when the phone lines in our vicinity were down, we diverted our main number 472 2340 to a CitiPhone hand held, which allowed people to contact us. However when the lines were fixed early this week, this number was reconnected – but not to our office. There have always been 2