In spite of the challenges, Papua New Guinea’s second city, Lae, is experienced some significant new investments. Business Advantage PNG sits down with John Byrne, President of the Lae Chamber of Commerce, to discuss the state of play in the country’s “engine room”.
Bougainville Copper Ltd says Panguna mine could be operational by 2025-26, Foreign exchange injection this week, and Tolukuma gold mine may restart by year’s end. Your weekly digest of the latest business news.
Prime Minister says funding details of Highlands Highway upgrade yet to be finalised, parliament considering outlawing roadblocks, and Telikom replaces CDMA network. Your weekly digest of the latest business news.
There is no question that Papua New Guinea’s manufacturers-which account for about 9% of the country’s GDP – have been caught up in the general downturn in the country’s economy, with a combination of lower investment in the mining and petroleum sectors, lower commodity prices and a stronger currency slowing growth and reducing domestic demand.
While Papua New Guinea’s economy has slowed in the past year, many of the country’s manufacturers continue to see growth as the longer-term trend, and are investing in new plant, new products and new marketing approaches.
Despite being overshadowed by the natural resources sector, manufacturing adds tremendous value to the Papua New Guinea economy, as Rod Myer discovers.
The range of products manufactured in Papua New Guinea is growing all the time.
![Traffic through PNG's ports rose by 46% in 2011 [source: PNG Ports]. Pic: Pacific Islands Trade and Invest](https://www.businessadvantagepng.com/wp-content/uploads/2012/09/DAY1-MORESBY098.jpg)
Many of the success stories in this publication have occurred against significant odds. Papua New Guinea’s producers face many challenges in developing their businesses, although things are looking up.
Papua New Guinea isn’t just a producer of mineral and agricultural commodities. As its economy grows, so does a substantial manufacturing sector.
With PNG expected to grow faster than China in 2011, Business Advantage examines just who is investing in PNG and in what sectors, and asks where the best opportunities lie in the future.