Papua New Guinea

Displaying 133 - 138 of 445

 

The government of Papua New Guinea has ramped up connectivity efforts, with strategic agreements and infrastructure investments expected to increase international arrivals in the coming years.

 

In an attempt to persuade foreign-owned fishing vessels to process their catches from Papua New Guinea waters at local facilities, Prime Minister Peter O’Neill announced the cancellation of a fishing fee subsidy in December 2017 and replaced it with a rebate for processing seafood onshore. While the move is designed to improve PNG’s fisheries...

 

Industry has emerged as one of the bright spots in Papua New Guinea’s economy in recent years, providing a buffer against downturns in the commodity cycle. As natural gas prices fell and related businesses struggled, manufacturing held its own. The weak currency and the lack of foreign exchange that accompanied the downturn may have actually...

 

The arrival of Jamaica-based telecoms firm Digicel in 2007 was a game-changer for Papua New Guinea’s ICT sector. The country’s internet penetration rate rose from just 1% at the time to 11.7% in 2016, while the mobile phone penetration rate also jumped considerably, from 1% in 2005 to nearly 50% in 2017.

 

Although a downturn in the commodity cycle, the end of construction on the Papua New Guinea liquefied natural gas (LNG) project and long-standing ambiguities over land rights have constrained development in the real estate sector, changes are afoot that could lead to significant improvements. About half a dozen major housing projects are now...

 

The retail sector in Papua New Guinea is showing signs of resilience despite challenges in the wider economy. Slow GDP growth, tight household budgets and a lack of foreign currency have created a difficult environment for trade stores, shops, supermarkets and malls: sales at some of the country’s bellwether retailers have fallen as much as 50...

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