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Interview

OBG talks to Gudmundur Fridriksson, CEO, Paga Hill Estate: Interview
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Interview:Gudmundur Fridriksson What explains the exceptional growth of the property market in Papua New Guinea? GUDMUNDUR FRIDRIKSSON: Since 2007 PNG has enjoyed considerable economic growth on the back of mining and commodities. This has since been followed by the construction of the PNG Liquefied Natural Gas project. There’s been a lot of developer activity to address the housing supply…
Interview

OBG talks to Dominic Avenell, Managing Director, Avenell Engineering Systems: Interview
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Interview:Dominic Avenell What potential is there for industrial parks in Papua New Guinea, especially in Port Moresby? DOMINIC AVENELL: For a long time the concept of industrial parks meant an area of the city that was zoned for industrial use, whether for ports, refineries or other industrial projects, but the idea of combing residential segments is slowly gaining ground in PNG. One of the…
Interview

OBG talks to John Kasu, Managing Director, National Fisheries Authority (NFA): Interview
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Interview:John Kasu How would you assess the potential of the fisheries sector in Papua New Guinea? JOHN KASU: Well the numbers speak for themselves, if you consider that the PNG fisheries zone is 2.4m sq km and is the largest in the South Pacific. This includes an extended reef system, numerous islands and an extensive coastline, creating huge opportunities but also enormous challenges when…
Interview

OBG talks to Robert Nilkare, Country Manager for Papua New Guinea, New Britain Palm Oil Limited: Interview
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Interview:Robert Nilkare What are the biggest challenges the palm oil industry faces currently in PNG? ROBERT NILKARE: The palm oil industry in PNG has been suffering from the lack of infrastructure affecting the overall agricultural sector. The biggest challenges facing the industry is public infrastructure, the Oil Palm Industry Corporation (OPIC) and law and order. The overall success of…
Interview

OBG talks to Tobias Kulang, Minister of Tourism: Interview
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Interview: Tobias Kulang Papua New Guinea received 193,000 visitors in 2015. What explains this relatively low number? TOBIAS KULANG: There are a number of reasons, but the main one is that the country has not been marketed properly over the years. There is a negative perception of the country as a tourism destination, because of law and order problems. I suppose we could be compared to Fiji in this…
Interview

OBG talks to Jonathan Seeto, Territory Partner, PwC: Interview
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Interview:Jonathan Seeto What sort of debate should we see within the business community in light of the economic uncertainty that exists due to low commodity prices? JONATHAN SEETO: We hear a lot of debate across the business community about what would create an environment more conducive to business growth and investment. When asked about what is important to business growth, a recent survey…
Viewpoint

Joseph Ernest Zveglich Jr, Director, Macroeconomic Research Division, Economic Research and Regional Cooperation Department, Asian Development Bank: Viewpoint
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Viewpoint:Joseph Ernest Zveglich Jr Growth in developing Asia has begun to ease slightly as prospects moderate in China and a delayed recovery in industrial economies causes a continued slowdown of growth. China has continued to shift to a new normal that is less dependent on exports and investment, which partly explains the slowdown we have observed in the region. China’s growth is moderating…
Viewpoint

Garry Tunstall, CEO, Nambawan Super, on the impediments in Papua New Guinea’s financial sector: Viewpoint
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Viewpoint:Garry Tunstall The current economic slowdown highlights several opportunities to prioritise and improve processes and procedures within the PNG financial sector. We have access to the technology and tools that can increase efficiency in fundraising and in operating the financial sector. PNG as a country has never defaulted in its history, so it has a sound track record that should…
Viewpoint

John Leahy, Partner at Leahy Lewin Lowing Sullivan, on proposed reforms to Papua New Guinea’s land use regulations: Viewpoint
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Viewpoint:John Leahy Benny Allan, the minister of Lands and Physical Planning, has proposed a number of amendments to the Land Act. The key points include administrative reform, including restructuring of the Land Board, the abolition of special agriculture business leases, the foreign ownership restrictions on state leases and land administration matters. The minister is embarking on a range…
Viewpoint

Richard Borysiewicz, General Manager, BSP Capital, on the impact of the UK exit from the EU: Viewpoint
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Viewpoint:Richard Borysiewicz Inevitably there will be a certain degree of speculation around this question for quite some time, as it will take months or perhaps years before the new UK-EU relationship will be finally defined. During this period of uncertainty, the markets are expected to experience consistent volatility, as investors will be increasingly wary about taking risks, with the focus…