A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom driven by a massive liquefied natural gas project has been swiftly followed by a sharp slowdown as global oil prices fell, and as a result the government has come under some pressure.
Often overshadowed by the extractive industries, Papua New Guinea’s industrial manufacturing, downstream processing and value-added sectors in fact serve as the largest formal employer in the country and continue to attract investment in spite of fiscal challenges presented by the current operating environment. Beyond employment, sustained...
The retail sector in Papua New Guinea is coming off perhaps the biggest boom cycle in the country’s history after years of sustained investment in capital-intensive infrastructure and a long run of strong “supercycle” commodity prices, which the government depends upon as a foreign currency earner. While an economic slowdown and its ripple...
Often overshadowed by the extractive industries, Papua New Guinea’s industrial manufacturing, down¬stream processing and value-added sectors in fact serve as the largest formal employer in the country and continue to attract investment despite fiscal challenges presented by the current operating environment. Beyond employment, sustained long-term growth for PNG industry will be crucial for the...
The mining sector in Papua New Guinea is showing signs of an uptick after operations resumed at one of the country’s largest mines, with new and ongoing projects set to inject much-needed foreign exchange and employment into the economy.
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