Although commercial banking assets and business lending dropped in 2017 as a result of macroeconomic headwinds, the sector has performed well in recent years. Notably, Bank of South Pacific (BSP), which is PNG’s biggest lender, recorded robust asset, lending, and profit growth, with returns on equity rising to a new highs in 2017. At the same...
Although small by international standards, Papua New Guinea’s capital markets have performed well in recent years, despite facing notable macroeconomic challenges. Key indices on the Port Moresby Stock Exchange (POMSoX) expanded steadily in 2017, supported by robust growth of two of its largest listed companies, Bank South Pacific (BSP) and Oil Search, and an increase in...
The development of special economic zones (SEZs) in Papua New Guinea has been a topic of discussion and debate for quite some time, with critics voicing concerns over the planning and implementation of projects in the pipeline. However, large-scale industrial parks remain a priority for the country as they offer a boost to manufacturing and...
Although the agriculture sector has some significant hurdles to overcome, this has not stopped a host of agri-business projects from sprouting up across the country in recent years. With the gradual inward flow of foreign capital and the adoption of farming-optimisation techniques, agri-business has the potential to be the new growth engine of...
In the absence of a well-developed local manufacturing base for building materials, Papua New Guinea’s construction sector has largely depended on imported materials over the years, which has translated into high costs and slow development. However, recent government policy changes geared towards reducing imports of capital goods and...
While resources-related projects will always be the engine of the sector, the rising number of residential, hotel, retail, transportation and office developments are becoming increasingly important, as the country’s hosting of APEC events in 2018 and the expanding middle class continue to shift Papua New Guinea’s construction priorities. The...
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