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Six things business needs to know about Papua New Guinea’s economy [analysis]

Westpac's Senior Economist Justin Smirk has been studying Papua New Guinea's economy for over 20 years. He recently provided the 2023 Business Advantage Investment Conference with six things businesses should understand about PNG's economy, as we wait for the next wave of resources investment to begin.
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Private sector investment targeted to redevelop Papua New Guinea state assets

Some key Papua New Guinea state assets, including the site of Port Moresby's old port, are being readied for redevelopment, with private sector investment being sought. The move is being guided by a new investment strategy from state holding company, Kumul Consolidated Holdings.
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Niugini Assurance’s CEO lays out plans to continue its strong growth

Since launching as the new kid on the block in 2020, Nuigini Assurance has become a significant player in the country’s competitive insurance sector. Shareholder and interim CEO, Opi Loi, walks Business Advantage PNG through the key drivers of its success so far, and its plans for growth.
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Conference catches Papua New Guinea of the cusp of a new era of investment

Investment and partnership opportunities were a focus at this year's 2023 Business Advantage Papua New Guinea Investment Conference in Brisbane, with numbers exceeding pre-COVID levels.
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No hard devaluation of the kina, says Bank of Papua New Guinea Governor

With a new strategy to manage Papua New Guinea's foreign exchange shortages expected soon, the Bank of Papua New Guinea's Acting Governor, Elizabeth Genia, has moved to reassure business leaders that a devaluation of the country's currency is not on the cards.
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Work begins on Kumul Petroleum’s world-class fabrication facility in Papua New Guinea

Kumul Petroleum’s plan to manufacture large-scale infrastructure components for major resources projects in Papua New Guinea has taken a major step forward, following the signing of construction contracts for a US$100 million (K358 million) fabrication facility outside Port Moresby.
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Papua New Guinea’s Kumul Mineral Holdings set for expansion

The role and revenues of state-owned Kumul Minerals Holdings are set grow significantly as it prepares to add a major stake in the Porgera gold mine to its portfolio. Business Advantage PNG asks recently-appointed Managing Director Sarimu Kanu about his vision for the company.
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