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Economy/Investment

Expanding SME sector critical to Papua New Guinea’s future, says MD of SME Corporation

6 Jun 2018 by 13 Comments
Papua New Guinea will have to dramatically expand its small and medium enterprise (SME) sector if it is to achieve middle income status by 2030, according to Steven Maken, Managing Director of the Small and Medium Enterprises Corporation of Papua New Guinea. That will involve dealing with some key constraints.
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PM insists Papua New Guinea economy strong despite critics

1 May 2018 by Leave a Comment
The Prime Minister Peter O'Neill has criticised external commentators for 'bias' when assessing the PNG economy. Speaking at the 34th Australia Papua New Guinea Business Forum in Brisbane, he expressed optimism about the proposed Papua LNG project but said the economy has to be diversified to avoid boom and bust cycles.
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United Kingdom confirms post-Brexit trading arrangements with Papua New Guinea

1 May 2018 by Leave a Comment
In a move that will reassure Papua New Guinea exporters to the United Kingdom, the UK government has confirmed it will maintain the European Union's current trading arrangements with PNG after 'Brexit'. Meanwhile, Prime Minister O'Neill has flagged 'huge incentives' for investments in agriculture and tourism, Business Advantage PNG reports from London.
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SME credit fund role part of our Papua New Guinea social responsibility, says Kina Bank CEO

24 Apr 2018 by 1 Comment
Kina Bank is working with the Australian government and other donors to set up a credit fund for small and medium sized business. CEO Greg Pawson has told business leaders in Port Moresby the scheme is part of the bank’s corporate responsibility.
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Standard & Poor’s lowers Papua New Guinea’s rating

24 Apr 2018 by Leave a Comment
S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Papua New Guinea (PNG) to 'B' from 'B+', but it believes the outlook is 'stable'. The agency points to bigger than expected fiscal deficits because of 'a loss of revenue and reconstruction costs after a recent earthqu
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