There were 963 results found for Papua New Guinea and All Sectors

There were 963 results found.

Analysis

How Papua New Guinea is bolstering local production capacity
OBG
plus

In recent years Papua New Guinea has moved away from the long-held policy of tariff reductions towards import substitution and self-sufficiency. As the Covid-19 pandemic underlined the vulnerability of international supply chains, efforts to scale up local industrial production and decrease reliance on imported staples are taking on renewed importance. Policy In August 2017 PNG launched the…

Analysis

How Papua New Guinea’s extractive sector is navigating Covid-19
OBG
plus

The outbreak of Covid-19 in the first half of 2020 took an economic toll on countries around the world, with each experiencing the effects slightly differently. In Papua New Guinea the pandemic placed the country’s foreign exchange (forex) reserves under renewed pressure; PNG’s forex flows are primarily linked to commodity markets, many of which entered negative territory when the pandemic…

Analysis

How is Covid-19 affecting the flow of global remittances?
OBG
plus

The onset of a Covid-19-induced global recession has affected both labour markets and financial flows around the world. At the confluence of these two are remittances, which have increasingly been among the top contributors to GDP in many emerging markets over recent decades. The issue is particularly pertinent for the countries located in the so-called yellow slice of the global economic pie…

Analysis

Will entrepreneurship boost employment in Papua New Guinea?
OBG
plus

Small and medium-sized enterprises (SMEs) in Papua New Guinea currently generate 0.8% of exports and account for 6% of GDP. However, policymakers see substantial opportunities in providing these smaller companies with enhanced institutional and financial support. Indeed, the government estimates that SMEs have the potential to generate more than half of formal sector employment and contribute…

Analysis

Will mobile insurance boost inclusion in Papua New Guinea?
OBG
plus

Since Prime Minister James Marape took office in May 2019, the government has continued to implement a number of strategies aimed at increasing the accessibility of financial services. The National Financial Inclusion Strategy 2016-20 seeks to promote digital services and more inclusive insurance, while the Financial Sector Development Strategy 2018-30 advocates the use of financial technology…

Analysis

How Papua New Guinea is benefitting from LNG projects
OBG
plus

Papua New Guinea first started producing liquefied natural gas (LNG) in April 2014 when the flagship $19bn PNG LNG project came on-line months ahead of schedule. With the project exceeding export expectations, the focus has now shifted to two new projects, which would more than double the country’s LNG production capacity if they come to fruition. However, as the government is determined…

Analysis

What is Papua New Guinea doing to reform land ownership?
OBG
plus

Accelerating land reform has been a key priority in enabling socio-economic progress in Papua New Guinea, and several development programmes have been put in place to this end. Since being elected in 2019, Prime Minister James Marape and his administration have placed a particular focus on mobilising large areas of customary land for development, while also emphasising the empowerment of customary…

Analysis

How local agriculture products will help Papua New Guinea
OBG
plus

Towards the beginning of the Covid-19 pandemic, many people chose to stockpile groceries, raising questions about food security in the event of prolonged disruption to supply chains. As of June 2020 restrictions included suspension of domestic and incoming international flights; a ban on movement between provinces except for approved cargo, medical supplies and security forces; and home quarantine…

Overview

What are the tax laws and incentives in Papua New Guinea?
OBG
plus

As of 2020 Papua New Guinea is in the process of significant tax reform following recent amendments to the country’s tax code. Among the most recent changes are those related to the taxation of extractive industries, while proposed reforms include the introduction of a capital gains tax and the rewriting of the Income Tax Act. National Budget The 2020 budget was the first to be issued by…

Overview

How Papua New Guinea is developing its tourism sector
OBG
plus

Successive governments have long identified tourism as a promising avenue for Papua New Guinea to diversify its economy away from a reliance on extractive industries. PNG’s topography, biodiversity and rich cultural traditions offer a range of outdoor tourism opportunities that stand to be unlocked by improved infrastructure, enhanced safety measures and effective marketing strategies. Moreover,…

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There were 963 results found for Papua New Guinea and All Sectors

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