Papua New Guinea

The extension of 3G services into more of Papua New Guinea’s (PNG) provinces and a flurry of foreign satellite communication investments have highlighted the potential – and the challenges – of investing in telecommunications in the country.

A series of significant mineral finds in Papua New Guinea (PNG) have highlighted the role exports are set to play in the nation’s economic future. However, there have been calls from industry players and opposition officials asking the government to do more to ensure revenues stay in the country.

Papua New Guinea’s recent surge in natural resource projects has had a spin-off effect on other sectors, thus giving the country a positive near-term outlook for its economy, which is expected to see GDP growth reach 8% this year. However, the government has been advised to tighten its management of revenues from mining and natural gas projects, as well as curtail spending to ensure expansion remains stable moving forward.

Plans for a major highway upgrade deal with China and progress in transport development schemes underline Papua New Guinea’s (PNG) determination to tackle infrastructure deficits that have thus far inhibited the island’s economic growth.

Rapid expansion in Papua New Guinea’s property market is set to be further heated by new foreign investment. However, industry players reject fears of a bubble and predict that rising prices will soon stabilise.

As Papua New Guinea (PNG) seeks to diversify its economy to avoid over-reliance on gas and mineral resources, its nascent fishing and fish-processing industry is rising in potential.