Industry & Retail

Already major contributors to the nation’s revenue base, Papua New Guinea’s industry and manufacturing sectors hold significant potential for future investment and development. As such, the administration of Prime Minister James Marape remains devoted to a course that will encourage and protect businesses while working towards a reduction in the national import bill. This policy serves to both hedge against the boom-and-bust cycle of the resource economy, and avoid the ongoing issues the country has faced in obtaining foreign currency by replacing imported inputs with domestic produce. Meanwhile, with a mood of cautious optimism, PNG’s retail sector is recovering from a period of uncertainty caused by the earthquake in Hela Province in early 2018. That same year was marked by sluggish growth, before the APEC Leaders’ Summit in November 2018 triggered an upturn in the hospitality and general retail sectors, and encouraged businesses to invest with more confidence. This chapter also contains interviews with Stan Joyce, Managing Director, South Pacific Brewery; Mahesh Patel, Managing Director, CPL; and Nathaniel Ho, Executive Director, Rimbunan Hijau Group.