Culturally one of the world’s most diverse countries, Papua New Guinea is widely considered to be among the last frontiers for tourism and business opportunities. The island of New Guinea shelters 6-8% of global species, hosts one-sixth of known languages, and rivals Borneo, the Amazon and the Congo in terms of biodiversity, according to the...
Small and medium-sized enterprises (SMEs) are to receive new incentives in Papua New Guinea, as the government aims for a 10-fold increase in the number of such businesses, from 50,000 to 500,000, and a fivefold increase in the segment’s contribution to GDP, from 10% to 50%. This builds on a 12-point stimulus package launched in 2012, which included financial support and...
While Papua New Guinea has a long history of manufacturing, the sector accounts for only around one-tenth of GDP, and output is mostly confined to staple goods bound for the domestic market. PNG is endowed with a number of highly traded global commodities, including timber, coffee, cocoa, palm oil and fish. With hydrocarbons production pegged...
Papua New Guinea’s climate is characterised by fertile soil and abundant rainfall, enabling the country to grow a number of tropical crops such as palm oil, coffee and cocoa, which account for around 80% of all agricultural exports. Meanwhile, sweet potatoes, cassava, fruits and vegetables are all farmed to serve the local market. In total, agriculture contributes around a...
The past decade have seen trying times for cocoa farmers in Papua New Guinea. They have dealt with devastating attacks by the maligned cocoa pod borer (CPB) starting in 2006, followed by a drop in cocoa market prices which have brought the industry to the brink of collapse in recent years. Concerted efforts to revive the crop were led by farmers, international aid...
Palm oil has long been a success story for Papua New Guinea’s agricultural sector, with large plantations providing the bulk of agricultural export revenues and serving as a crucial component of economic diversification efforts to balance out the heavily weighted extractive industry sectors. Established in the 1960s, the original Hoskins and Bialla (now Hargy Oil Palms) oil...
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