A raft of foreign capital investments across new and existing mines in Papua New Guinea are set to boost production and lead to a rebound in government revenues; however, there are concerns proposed legislative changes could hinder activity moving forward.
New initiatives focused on building agricultural production capacity and lowering costs for goods carried overseas seek to move Papua New Guinea one step closer to becoming a more competitive, export-driven economy.
Papua New Guinea’s mining industry should see increased activity following the announcement of new foreign investment, which comes as many mines resume operations after February’s earthquake.
Import tariffs imposed at the beginning of the year are starting to have an impact on local industry in Papua New Guinea, supporting efforts to curb the import bill and encourage self-sufficiency.
The mining sector in Papua New Guinea is showing signs of an uptick after operations resumed at one of the country’s largest mines, with new and ongoing projects set to inject much-needed foreign exchange and employment into the economy.
A regulatory overhaul is paving the way for Papua New Guinea to focus on developing the processing side of its fisheries industry, supporting the country’s plans to become a major downstream player in the global tuna market.
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