The global economy is entering the Fourth Industrial Revolution (4IR), or Industry 4.0, based on the application of new digital and automated technologies in production processes and service delivery. These changes are presenting emerging markets with opportunities such as improved productivity, as well as risks, namely reshoring and the...
China’s Belt and Road Initiative (BRI) is becoming one of the main drivers of construction activity in Papua New Guinea. Local media reported that China has overtaken Australia as the largest donor to the South Pacific region, pledging $4bn in 2017; however, the nation’s growing presence in the region has also raised some concerns.
Despite a wave of investments and advances in ICT infrastructure, internet speeds in Papua New Guinea are still among the slowest in the Asia-Pacific region. The average download speed is 4.28 Mbps, which compares poorly with 20.9 Mbps in New Zealand and 39.33 Mbps in Australia.
In a bid to increase transparency and ensure that only qualified projects are eligible for government assistance, a complete review of Papua New Guinea’s tax credit scheme (TCS) got under way in the beginning of 2018. The government has utilised the TCS to enhance the commercial viability of infrastructure projects since 2003, albeit with...
Although international oil and gas firms continue to face a challenging operating environment, economic expansion in Papua New Guinea has been driven by large-scale energy projects in recent years, with liquefied natural gas (LNG) processing becoming an important catalyst for growth. Although investment has stalled somewhat since 2014, the...
The property market in recent years has been heavily influenced by extractive projects and, more recently, Papua New Guinea’s hosting duties as chair of the APEC forum in 2018. These have created a serious gap in supply and demand, which has affected prices.
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