The aviation sector in Papua New Guinea is set for a major shake up, with government plans to privatise a stake in the national flag carrier later this year.
Papua New Guinea
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Economic update | Papua New Guinea flies high
17 Aug 2015
Having just hosted the 15th annual Pacific Games, which ended this month, Papua New Guinea is hoping to build on that success to set itself up as a regional venue for international sporting and political events.
Chinese miners are looking to increase their presence in Papua New Guinea’s minerals industry, with two recent acquisitions giving companies from the mainland a firm hold on assets in the extractive sector.
Small and medium-sized enterprises (SMEs) are to receive new incentives in Papua New Guinea, as the government aims for a 10-fold increase in the number of such businesses, from 50,000 to 500,000, and a five-fold increase in the segment’s contribution to GDP, from 10% to 50%.
A drive to strengthen the cocoa industry in Papua New Guinea is helping local growers draw a line under a difficult few years as rising international demand looks set to aid recovery.
Public and private sector efforts are under way to increase Port Moresby’s electricity supply ahead of the Pacific Games in July, as the Papua New Guinea government tries to allay fears that the major sporting event could be disrupted by blackouts.