An increasing share of commercial transactions are moving online, while digital technology continues to expand its reach into every facet of the traditional economy. This has provided businesses with new channels through which to reach existing clients, as well as new opportunities to expand their market share by developing a competitive digital offering. For consumers, the...
Prime Minister James Marape is intent on putting agriculture, forestry and fisheries at the forefront of the government’s development agenda, with an eye to boost downstream processing of farmed resources. As attempts to galvanise the sector spur the development of Papua New Guinea’s key crops and catches, reforms are under way to ensure the country maximises the potential of...
Global food demand is expected to increase by anywhere between 59% to 98% by 2050. However, global freshwater resources are already overstretched due to climate change and soaring population growth, and it is unclear how agricultural production will keep up with these challenges. In recent years climate-induced water shortages in urban areas have brought water scarcity to the...
Papua New Guinea’s efforts to establish special economic zones (SEZs) began in 2000 with the passing of the Free Trade Zones Act. However, PNG has yet to develop its first SEZ due to conflicts between the central and provincial governments, resulting in policy inconsistency and land disputes. For example, in February 2018 Allan Bird, governor of East Sepik Province, issued a...
With a mood of cautious optimism, Papua New Guinea’s retail sector is recovering from a period of uncertainty caused by the devastating 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...
Small and medium-sized enterprises (SMEs) are the engines of global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. In the case of the latter, the rise in the number of SMEs has been crucial to economic diversification and resilience,...
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