Government to spend K300 million buying into Star Mountain Plaza project, Bougainville President supports new-look BCL, and Trade Minister seeks ban on Fiji imports. Your weekly digest of the latest business news.
Manufacturers Council of PNG
The difficulty in getting foreign exchange is making goods made in Papua New Guinea more attractive, local manufacturers tell ‘Business Advantage Boardroom’, which aired last night on national broadcaster, EMTV. But a lack of protection against cheap overseas competition remains a problem.
Tomscoll says government must invest in agriculture if the economy is to survive, government waiting for Chinese funding of PMIZ a year after launch, and O’Neill discusses closer ties with Thailand. Your weekly digest of the latest business news.
The economic and financial stresses being experienced in the PNG economy are in part due to the narrowness of the industry base, according to a report by the Asian Development Bank. There is a compelling argument for industry diversification; Chey Scovell of the Manufacturers Council says the focus should be on creating stable employment.
Blockade of PNG LNG site now its second week, Trade Minister threatens Fiji over refusal to import PNG products, and fears of job losses if rice import quotas introduced. Your weekly digest of the latest business news.
There is a growing call for greater protection of Papua New Guinea industry to respond to allegedly unfair international competition. A number of manufacturers tell Business Advantage PNG that most countries have used protectionism to foster their domestic industries and it is time for PNG to do the same.
Papua New Guinea’s manufacturers experienced difficult conditions in 2015 and many are concerned that things will get worse before they get better. David James talks to some of the key figures from the sector to find out how they are coping with the tough market conditions.
Manufacturing affected by downturn in economy, Japanese International Co-operation Agency ready to start Lae-Nadzab Development Project and CPL’s profit comes in at K6.5 million. Your weekly digest of the latest business news.
Trade Minister Richard Maru has urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments.
Moody’s lowers Papua New Guinea rating outlook, Australians banned from Bougainville, and PNG to commence free trade talks with China. Your weekly digest of the latest business news.