Papua New Guinea

While resources-related projects will always be the engine of the sector, the rising number of residential, hotel, retail, transportation and office developments are becoming increasingly important, as the country’s hosting of APEC in 2018 and the expanding middle class continue to shift Papua New Guinea’s construction priorities. Although a downturn in the commodity cycle, the end of...

Developing Papua New Guinea’s infrastructure has long been a challenge due to its diverse terrain and unevenly distributed population. However, increased public investment is expected to boost the transport sector. Long-term projects, such as the Sustainable Highlands Highway Investment Programme, being executed by the Asian Development Bank in partnership with the government, and the Civil...

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 processing becoming an important catalyst for growth. Since the launch of the PNG LNG project in 2014, the country has witnessed a significant uptick in investment, with...

Shaped by shifts in supply and demand, Papua New Guinea’s economy has relied heavily on mineral extraction for most of its modern history. On the back of increased gold, copper, nickel and cobalt production, mining revenue expanded by 18.8% in 2017. As prices rebound, growth in mining activity comes at an important juncture, boosting export and fiscal receipts, as the country grapples with...

Although small by international standards, Papua New Guinea’s capital markets have performed well in recent years, despite facing notable macroeconomic challenges. Key indices on the Port Moresby Stock Exchange expanded steadily in 2017, supported by robust growth of two of its largest listed companies, Bank South Pacific and Oil Search, and an increase in domestic turnover. A series of...

The insurance industry of Papua New Guinea holds considerable potential for long-term growth, although insurers and brokers face notable challenges, including a lack of enforcement and compliance regarding financial reporting requirements, limited domestic reinsurance capacity, and the frequent offshoring of major accounts and business. Despite being a country that is susceptible to an array of...