Papua New Guinea’s foreign exchange shortages were at the centre of three of the 10 most-read articles on businessadvantagepng.com in 2024. There was also high demand for stories on major resources projects, green financing and an Australian visa program that will enable PNG businesses to upskill their employees. 

1. Opinion: A fix to PNG’s kina and forex woes (25 September)

The Bank of Papua New Guinea and the International Monetary Fund believe continued depreciation of the kina is the way to alleviate PNG’s ongoing foreign exchange shortages. ANZ economists Kishti Sen and Tom Kenny argue there are better alternatives. 

2. Australia’s new Pacific Engagement Visa an opportunity for PNG businesses (18 June)

Australia launched its inaugural Pacific Engagement Visa ballot in June, with Papua New Guinea receiving the largest allocation. Charlotte Armstrong breaks down the implications for PNG’s business and labour force. 

3. Bank of Papua New Guinea issues new directive on forex order priorities (19 November)

Authorised foreign exchange dealers must fully clear essential trade and services orders before executing any orders for non-essential items such as dividends, under a new directive issued by Papua New Guinea’s central bank. Nadav Shemer Shlezinger finds out what this means for businesses. 

4. Papua New Guinea’s proposed National Gold Corporation Bill opposed by industry (24 April)

Papua New Guinea’s Chamber of Resources and Energy has come out with serious objections to the government’s proposed National Gold Corporation Bill. We take a closer look at the legislation and what it could mean for the country’s second most valuable export. 

5. Exclusive: Barrick CEO Mark Bristow’s vision for Porgera gold mine (25 September)

In this exclusive interview with Nadav Shemer Shlezinger, Barrick Gold’s President and Chief Executive Mark Bristow talks about the deal he made to restart the Porgera gold mine, the road to returning it to full production, and why addressing law and order is critical. 

6. Economic update: Papua New Guinea’s decade of growth begins (9 April)

As part of extensive in-country research for the 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of Papua New Guinea business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us. 

7. Papua New Guinea businesses still face serious forex delays, despite interventions (23 May)

Papua New Guinea’s banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement. 

8. Papua New Guinea’s growing middle class driving housing construction (13 March)

Papua New Guinea’s construction sector as a whole has returned to pre-COVID levels, driven in part by a growth in demand for housing. We looks at what’s driving the trend. 

9. TotalEnergies zeroes in on final barriers to Papua LNG project go-ahead (14 February)

A final investment decision on the Papua LNG project in Papua New Guinea remains on the agenda for this year. Managing Director of project lead TotalEnergies E&P PNG, Jean-Marc Noiray, walks Business Advantage PNG through the milestones ahead for the US$10 billion-plus gas project. 

10. Bank of Papua New Guinea program aims to generate funds for green projects (23 October)

The newly established Green Finance Centre in Papua New Guinea is working with four financial institutions to pilot a framework to encourage investments in green projects such as renewable energy and sustainable agriculture. Its head Mohinesh Prasad shares the centre’s plans at the 2024 Business Advantage PNG Investment Conference.