The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project means the future of Papua New Guinea must be navigated with care. The country possesses plentiful natural resources, which, given effective management, could provide new revenue to spur diversification, as well as sustainable and equitable growth in all provinces.
The Guide contains selected listings of hotels in Port Moresby and Lae, as well as information for business and leisure travellers covering visa requirements, health and safety considerations, and local language and culture. This chapter contains an interview with Materua Tamarua, CEO, Australia Papua New Guinea Business Council.
This chapter explores Papua New Guinea’s legal system across the national, local and provincial levels, including the laws that may impact a foreign enterprise in its business dealings in PNG; the taxes and import duties imposed on individuals and business organisations; the rules regarding the use of customary land; and the conditions under which citizens of the country can be employed. The...
Papua New Guinea is in the process of significant changes following recent amendments to the tax code, which include new rules for the taxation of extractive industries, while proposed reforms include the introduction of a capital gains tax and the rewriting of the Income Tax Act. The 2020 budget is focused mainly on reforming the revenue administration system. It also includes a limited...
Successive governments have identified tourism as a promising avenue for Papua New Guinea to diversify its economy away from a reliance on extractive industries. PNG’s biodiversity and rich cultural traditions offer a range of tourism opportunities that stand to be unlocked by improved infrastructure and effective marketing strategies. Prior to the Covid-19 pandemic, the country seemed poised...
The laying of two subsea fibre-optic cables – one international and one domestic – are among the recent and promising ICT developments in Papua New Guinea. There is optimism that these will help expand access and reduce costs in rural areas, which are home to over 80% of the country’s 8.6m-strong population. To keep pace with these developments, moves have been made to enhance data protection...
Agriculture is a central pillar of Papua New Guinea’s economy. In 2019 it made up 25% of GDP and contributed to the livelihood of 85% of the population. PNG’s commitment to place agriculture at centre stage and promote the socio-economic development of smallholder farmers bodes well for the future. Currently, the sector remains dependent on export revenues from key crops such as palm oil,...
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