With a mood of cautious optimism, Papua New Guinea’s retail sector is recovering from a period of uncertainty caused by the devastating earthquake in Hela Province in early 2018. That same year was marked by sluggish growth before the APEC Leaders’ Summit in November 2018 triggered an upturn in the hospitality and general retail sectors, and encouraged businesses to invest...
Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of SMEs has been crucial to economic diversification and resilience,...
Forestry is not only about forest production. It involves finding a balance between economic opportunity and conservation that ensures future generations will also benefit from the land and forests. PNG has a forest cover of about 78%, and while that seems high, it should be somewhere between 80% and 90%. One of our advantages is that we are able to learn from other regions....
In 2017 the government of Papua New Guinea introduced a series of policies to promote domestic downstream processing in the fisheries and timber segments, and self-sufficiency in food production. However, these measures have been met with criticism from some sector players, who claim that not enough has been done to boost output and self-sufficiency may not work for every...
Already major contributors to the nation’s revenue base, Papua New Guinea’s industry and manufacturing sectors hold significant potential for future investment and development. As such, the administration of Prime Minister James Marape remains devoted to a course that will encourage and protect businesses while working towards a reduction in the national import bill. This...
The imposition of import tariffs in Papua New Guinea in recent years has had a broadly positive effect on local industry, both in terms of encouraging capital investment by manufacturing companies and ensuring the survival of existing industrial firms. However, the policy has also caused some supply-side constraints and raised questions about the country’s attractiveness to...
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