The government has demonstrated notable early enthusiasm to boost the ease and transparency of land ownership processes, which should stimulate activity in the construction sector. Recent years have seen the industry hindered by vulnerability to foreign currency shortages, limited availability of land for development, a lack of transparency and insufficient human capital. Ongoing efforts to...
Papua New Guinea Construction
Chapter | Construction & Real Estate from The Report: Papua New Guinea 2020
The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces.
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The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces.
Chapter | Construction & Real Estate from The Report: Papua New Guinea 2019
Papua New Guinea’s hosting of the 2018 APEC Leaders’ Summit proved to be something of a catalyst for the construction sector. Although the authorities had to mitigate the shortage of high-end hotels in the capital city by hiring cruise liners to accommodate international delegates attending the event, a host of construction projects were launched to meet the other infrastructure needs of the...
Efforts to improve public governance are gradually bolstering confidence in Papua New Guinea’s economy, despite national performance being heavily dependent on the extractive industries. Backed by macroeconomic development plans, Prime Minister James Marape’s administration is seeking to improve debt management, reduce foreign exchange imbalances, widen access to social services and provide greater employment opportunities.
Chapter | Construction & Real Estate from The Report: Papua New Guinea 2018
While resources-related projects will always be the engine of the sector, the rising number of residential, hotel, retail, transportation and office developments are becoming increasingly important, as the country’s hosting of APEC in 2018 and the expanding middle class continue to shift Papua New Guinea’s construction priorities. Although a downturn in the commodity cycle, the end of...
Although Papua New Guinea’s macroeconomic slowdown, challenging business climate and falling global commodity prices have weighed on trade and investment in recent years, the country continues to offer high-potential opportunities to investors.
Chapter | Construction & Real Estate from The Report: Papua New Guinea 2017
Although it recorded double-digit expansion during the boom years of 2010 to 2013, Papua New Guinea’s construction industry faces a challenging operating environment in 2017. Growth contracted in 2014 following the completion of a major liquefied natural gas project, and contractors have since struggled to regain the momentum seen earlier in the decade. The sector rebounded in 2015 and 2016,...