TAG: Economy
Analysing the prevalent economic trends, business sentiment and sectoral insights, the comprehensive analysis marks 18 years of OBG’s presence in the country. It comes at a time of significant economic uncertainty for the global economy, which has underscored the importance of in-depth, independent and accurate research for the global business community
PNG’s resource wealth, coupled with its strategic location between the industrial centres of north-east Asia, the rising economies of the Association of South-east Asian Nations and the developed economies of Australasia, means it is poised for long-term growth. The government took decisive actions to prevent community transmission of Covid-19, which constrained business activity in the first half of 2020 but also left the nation well placed to recover without widespread public health consequences. While uncertainties remain as negotiations on extractive projects have yet to be concluded, PNG is expected to benefit from sustained policy efforts to nurture the productive sectors of the economy.
Although Peru implemented some of the most comprehensive restrictions in the entire region, it has experienced a steady increase in the number of cases and deaths within its territory in recent months.