How do you view the growth prospects of Papua New Guinea’s retail industry in 2018?
Although Papua New Guinea’s macroeconomic slowdown, challenging business climate and falling global commodity prices have weighed on trade and investment in recent years, the country continues to offer high-potential opportunities to investors.
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.
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