The exodus of expats from Papua New Guinea due to COVID-19 has had a dramatic effect on the country’s real estate sector. Robert Upe reports.
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Rents take a tumble in Papua New Guinea’s capital, Port Moresby
28 Apr 2021 by 4 Comments
Economy/Investment
Economy on the mend, says Bank of Papua New Guinea Governor
12 Apr 2021 by Leave a Comment
The Governor of Bank of Papua New Guinea has forecast a recovery for the country's economy of 2.5 per cent after the sharp contraction of 2020. But he says the national budget and PNG's foreign exchange reserves will remain under pressure.
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‘There could not be a better time’ for Papua New Guinea’s new foreign investment laws
15 Mar 2021 by Leave a Comment
Now is the time to focus on restarting foreign investment in Papua New Guinea, says Clarence Hoot, Managing Director of the country’s Investment Promotion Authority. He tells Business Advantage PNG the IPA’s priorities for the year ahead, which include getting new foreign investment laws through Parliament.
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More jobs, better recovery strategy: what Papua New Guinea’s economy needs to thrive
10 Mar 2021 by Leave a Comment
The most important economic issue facing Papua New Guinea is job generation, according to Douveri Henao, Executive Director Business Council of PNG, and Paul Barker, Executive Director of the Institute of National Affairs.
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Papua New Guinea facing a ’triple crisis’, says World Bank economist
3 Mar 2021 by Leave a Comment
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
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To build or not to build: multibillion dollar Chinese project highlights Western Province’s dilemmas
15 Feb 2021 by 18 Comments
Reports that a Chinese company has put forward a multibillion dollar plan to develop several areas in Western Province have highlighted the lack of investment in one of Papua New Guinea's most neglected provinces.
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Papua New Guinea attracts more enquiries from foreign investors despite COVID-19 crisis
8 Feb 2021 by Leave a Comment
The Investment Promotion Authority has released data on foreign investment trends in 2020 that show the sector of most interest was agriculture. Despite the impact of COVID-19 there was significant investor interest.
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COVID silver linings: Bank of Papua New Guinea releases economic bulletin and not all is bad news
1 Feb 2021 by Leave a Comment
The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
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Kina readies fund to help Papua New Guinea’s SMEs unlock their potential
28 Jan 2021 by 7 Comments
Kina Bank’s Chief Executive and Managing Director Greg Pawson is expecting to start the SME Capital Fund this year, which will offer PNG businesses a new way of raising money. He tells Business Advantage PNG it should help business expand.
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2020: the year in review for Papua New Guinea business
9 Dec 2020 by 1 Comment
COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
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