Papua New Guinea

There are three levels of government in Papua New Guinea, the national, provincial and local-level governments. Until December 2004 PNG maintained a comprehensive regulated foreign exchange control regime with a variety of transactions requiring the approval of the Bank of PNG (the...

In May 2014 the National Parliament enacted the Business Names Act 2014 (New Act). At the time the New Act came into force, PNG already had business names legislation – the Business Names Act (Chapter 145) (Old Act) in force. The New Act does not repeal or amend the Old Act so that, technically at least, PNG now has two business names acts in...

With GDP growth for 2015 initially forecast as high as 21% but now projected at closer to 9%, there is a much more sobering view of short-term growth prospects for businesses in PNG. These sentiments have been shaped by some interesting turns in the business landscape over the last 12 months – not least, the fall in global oil and mineral...

Papua New Guinea has recorded high levels of economic growth for a number of years, mainly on the back of the PNG liquefied natural gas (LNG) project, which began production in mid-2014. The country’s abundance of natural resources has also seen many of the world’s largest oil and gas and mining companies enter the market. While the economic signs continue to be positive...

As Papua New Guinea’s population increases, the demand for education at all levels is also rising. The country is starting to build the infrastructure and train the educators necessary to cater for this large group of students. Even so, outside assistance is welcome in terms of funding and managerial assistance.