Foreign companies are showing interest in Myanmar’s geostrategic location, abundant natural resources and youthful population. A focus on following international best business practices and reducing the informal economy, paired with an annual GDP growth forecast at around 6% in the coming years, is setting Myanmar on a path to catch up with some regional peers.
Papua New Guinea has made strides in recent years to expand its capital markets and promote liquidity. However, the performance of the country’s stock exchange – which changed its name to PNGX Markets in July 2019 – has been affected by a series of economic disruptions. The 7.5-magnitude earthquake that struck PNG in February 2018 contributed to a contraction in economic activity for most of...
With a low penetration rate of below 2%, Papua New Guinea’s insurance sector has significant growth potential. The economy is expected to benefit from a range of new extractive projects and this, coupled with growing awareness about the benefits of insurance coverage, is set to increase demand. However, some notable challenges will need to be addressed to ensure the long-term expansion of the...
Despite a tight supply of foreign exchange and a slowdown in economic growth in 2018, Papua New Guinea’s banking sector remained well capitalised and registered a robust performance, aided by supportive policies from both the government and the Bank of PNG, the country’s central bank. The successful issuance in September 2018 of the country’s first dollar-denominated sovereign bond raised $...
Efforts to improve public governance are gradually bolstering confidence in Papua New Guinea’s economy, despite national performance being heavily dependent on the extractive industries. Backed by macroeconomic development plans, Prime Minister James Marape’s administration is seeking to improve debt management, reduce foreign exchange imbalances, widen access to social services and provide greater employment opportunities.
This is an important period of transition for the Philippine insurance sector, as stakeholders attempt to meet a range of new regulatory requirements designed to expand the industry’s depth and reach. There has been strong growth in profitability and gross written premium in recent years, generated by a wide range of insurance types and entities. Indeed, one of the main characteristics of the...
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