Papua New Guinea

Rapid economic expansion in Papua New Guinea (PNG) has produced some challenges, including the question of how to supply electricity to a growing population spread across 450,000 sq km of rugged terrain. However, the government’s long-term bid to boost both generation and distribution capacity is making progress, with plans to build new infrastructure for the sector rapidly gathering pace.

In line with an electoral platform that pledged to deliver more local level services and control over spending, the national government of Papua New Guinea (PNG) has introduced a budget for 2013 that transfers nearly PGK1.5bn ($623m) to provincial, district and local authorities.

With the construction phase of Papua New Guinea’s (PNG’s) liquefied natural gas (LNG) project nearing completion, the government is poised to roll out a maritime transport programme to support its bid to diversify economic interests. The far-reaching plans include overhauling ports, expanding capacity and, in some instances, relocating facilities or building new outlets to meet rising demand.

Growing interest from China in the Asia-Pacific region has driven up investment in Papua New Guinea (PNG), helping to accelerate economic expansion.

Authorities in Papua New Guinea (PNG) are hoping a new emphasis on developing small and medium-sized enterprises (SMEs) will generate up to 2m jobs in the next decade or so and boost the number of locally owned businesses. However, critics say that the government will first need to improve infrastructure and access to credit.

After several years of rapid growth in Port Moresby’s residential real estate sector, the market is in consolidation mode. In response, investors are eyeing commercial and retail segments for new opportunities.