Papua New Guinea

After almost two years of delay, Port Moresby is preparing for its imminent connection to Papua New Guinea’s (PNG’s) 10 gigabyte per second (GBps) fibre-optic gateway in Madang. Connected via a 750-km cable that will piggyback the ExxonMobil liquefied natural gas (LNG) pipeline, the new connection is expected to drastically reduce internet rates, thus serving as a catalyst for wholesale market change across the telecommunications sector.

Investors have put concerns about political uncertainty in Papua New Guinea (PNG) to one side, encouraged by the keen interest buyers are showing in the country’s natural gas blocks and major new finds.

Plans by major cruise tourism companies to include Papua New Guinea (PNG) on their itineraries and a joint marketing initiative with a northern Australian region have provided an important boost to PNG’s expanding tourism industry.

Confidence among players in Papua New Guinea’s (PNG’s) banking industry and the launch of new microfinance and mobile banking initiatives highlight the sector’s potential to grow amid the country’s natural resource-based surging growth. However, the Bank of PNG (BPNG), the central bank, remains concerned about increasing levels of liquidity.

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.