View the OBG Business Barometer: PNG CEO survey infographic Papua New Guinea’s economy appears to be accelerating once more following a period of slow expansion. The improving performance of the economy, which relies heavily on mineral and agricultural exports, is reflected in the positive business sentiment of C-suite executives polled in Oxford Business Group’s inaugural OBG Business Barometer:…
Read my evaluation of the OBG Business Barometer: PNG CEO Survey results OBG Business Barometer: PNG CEO Survey Copyright (c). All rightsreserved. This survey has been designed to assess business sentiment amongst business leaders (Chief Executives or equivalent) and their outlook for the next 12 months. Unlike many surveys, the OBG Business Barometer is conducted by OBG staff on a face-to-face…
Rising demand and a need to boost connectivity to the national grid are driving rapid expansion in Papua New Guinea’s electricity sector, with a range of sources tapped to meet the government’s power access targets. Currently, PNG has less than 600 MW of installed generation capacity, according to the Department of National Enterprises, and frequent outages due to spikes in demand mean the existing…
A lift in activity is expected for Papua New Guinea’s residential property market heading into next year, boosting both rentals and sales after a recent cooling from a slowing economy and rising costs. However, government support for the real estate sector – directly through investments in housing and infrastructure developments, or indirectly through state spending to boost economic growth…
New investment in airport infrastructure should help drive growth in Papua New Guinea’s aviation sector ahead of the Asia-Pacific Economic Cooperation (APEC) summit the country is scheduled to host next year, helping offset a recent drop in earnings. In early February the Asian Development Bank (ADB) signed an advisory agreement with PNG to develop a new passenger terminal at the country’s Jacksons…
Paperless transactions are gaining ground in Papua New Guinea thanks to the promise of new central bank regulations and the arrival of a satellite internet services provider. In early February Ellison Pidik, assistant governor of the Bank of PNG (BPNG), announced the bank was drafting a new regulatory framework to support e-business. While the groundwork for a sustainable e-business environment…
Papua New Guinea is looking to build on solid performance in its mining sector in 2016, though legal reforms expected later this year are creating a degree of uncertainty for prospective investors. Mining revenue grew by 38% to PGK9.9bn ($3.1bn) last year, according to data from the Mineral Resources Authority (MRA). The increase was led by the Lihir gold mine, which posted annual income of PGK3.57bn…
Join them and take part in the discussions around the expansion strategy for the country’s energy sector including current and future LNG projects, plans for unconventional resources development as well as growth of the power and downstream sectors. The confirmed sponsors are LNG Japan, ExxonMobil, Sojitz, PNG Power, Oil Search, Total, GE, High Arctic, Chiyoda, Horizon Oil, Westpac and Puma…
Lower returns from the extraction and agriculture sectors and a global fall in commodity prices combined to curb Papua New Guinea’s economic growth in 2016, though prospects for a modest rebound this year are firming up. Corrections necessary In early November the government amended its year-end GDP growth projections to 2%, significantly lower than the 4.3% forecast under the 2016 budget, partly…
Papua New Guinea, October 2016: A new report just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG) considers what’s next for Papua New Guinea (PNG) now that its huge liquefied natural gas (LNG) project has come on-stream. The Report: Papua New Guinea 2016 examines the key part that the country’s primary sector continues to play in attracting investors.…
