Papua New Guinea

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What are the main challenges facing a foreign company operating in Papua New Guinea?

Though the country may appear to lack liquidity, Papua New Guinea may have billions of kina hidden outside the banking system. According to Tony Westaway, managing director of Nationwide Microbank, residents tend to store cash at home, or hide large sums underground in bamboo pipes and in tin cans. The reasons are many: some people do not...

 

Papua New Guinea established a sovereign wealth fund in 2012, and while the original law was delayed and greatly revised, it is set to be implemented by mid-2015, with the first liquefied natural gas (LNG) proceeds flowing into the fund by 2016.

Articles & Analysis | Financial inclusiveness a key goal for PNG from The Report: Papua New Guinea 2015

Financial literacy and financial inclusion are becoming pressing issues in Papua New Guinea and receiving increased attention. In part, this is a function of global trends: financial literacy is vital to sustainable development and is actively being supported by the donor community and local governments. It is also especially a focus for PNG,...

What role could an independent state-owned oil company play in the oil and gas industry?

Do you feel that governments should concentrate on policy frameworks and improving infrastructure, instead of being involved in business?

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