A raft of foreign capital investments across new and existing mines in Papua New Guinea are set to boost production and lead to a rebound in government revenues; however, there are concerns proposed legislative changes could hinder activity moving forward.
A 7.5-magnitude earthquake and its subsequent impact on the mining and energy sectors led to a difficult year for Papua New Guinea in 2018; however, new investments from foreign players should reap dividends moving forward.
Host nation Papua New Guinea has benefitted from the superpower rivalry that dominated this year’s APEC summit, accumulating a series of economic benefits associated with holding the 21-member bloc’s rotating chair for 2018.
Recent moves to ease visa restrictions for Chinese tour groups and expand air services to the Asia-Pacific region could help Papua New Guinea’s tourism industry expand its source markets and develop beyond the business segment.
An improved commodity outlook and renewed economic stability are combining to ease foreign currency shortages in Papua New Guinea, as the government looks to tap international money markets.
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