Despite being struck by a deadly earthquake in the first quarter of 2018, PNG managed to successfully stage the APEC Leaders’ Summit in November of that year, a meeting which resulted in the signing of a number of trade and investment agreements that are expected to have a significant economic impact. While investor appetite remains subdued as a result of high operating costs...
Papua New Guinea’s international profile received a boost when it chaired the APEC forum in 2018, an event that culminated in the APEC Leaders’ Summit in Port Moresby in November of that year. During the meeting, leaders from some of the world’s largest economies congregated in the capital to discuss a host of regional issues. While the business climate is hampered by...
While economic diversification is expected to improve the business climate and incentivise investment, stakeholders are concerned that possible legislative changes may result in Papua New Guinea failing to reach its potential in attracting foreign capital.
While the National Executive Council under new Prime Minister James Marape may have received a healthy sprinkling of fresh talent, the latest political leaders at the helm find themselves facing familiar problems as they attempt to steer Papua New Guinea into its next phase of economic development. According to the results of the latest OBG Business Barometer: PNG CEO Survey,...
Port Moresby has benefitted from accelerated infrastructure development in recent years, spurred on by Papua New Guinea’s chairmanship of APEC in 2018. Although there was some domestic criticism related to spending large sums of public money on hosting world leaders in a moment of elevated national debt, 76% of CEOs expect the long-term economic impact of APEC 2018 to be...
Recent years have seen the issue of climate change and its potential ecological and economic effects move more clearly into the spotlight. It is now widely accepted that the planet cannot sustain current high-carbon industrial and consumer behaviours. With scientific knowledge on the subject now better informed and more reliable, economic models used to forecast the fiscal...
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