Country Profile
From The Report: Papua New Guinea 2016
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Culturally one of the world’s most diverse countries, Papua New Guinea is widely considered to be one the last frontiers for tourism and business opportunities – the island of New Guinea hosts 6-8% of the world’s species, one-sixth of known languages and rivals Borneo, the Amazon and the Congo in terms of biodiversity. The country is an important exporter of natural resources (gold, copper, oil and natural gas) as well as agricultural products, with its cash crops including coffee, oil palm, cocoa, coconut and to a lesser extent tea and rubber. PNG also became a major exporter of natural gas in 2014, significantly increasing the size and strength of its economy, and the $19bn PNG Liquefied Natural Gas project was completed ahead of schedule and within budget.

This chapter contains an interview with Prime Minister Peter O’Neill.

Articles from this Chapter

Overview

A million different journeys: A wealth of natural and cultural assets demand sensitive management as the state looks to exploit its resources
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Culturally one of the world’s most diverse countries, Papua New Guinea is widely considered to be the last frontier for tourism and business opportunities. The island of New Guinea hosts 6-8% of the world’s species, one-sixth of known languages and rivals Borneo, the Amazon and the Congo in terms of biodiversity, according to the Worldwide Wildlife Foundation (WWF). PNG comprises the eastern half of the largest tropical island on Earth, along with hundreds of smaller adjacent islands,…

Interview

Meeting the challenges: OBG talks to Prime Minister Peter O’Neill
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Interview: Peter O'Neill Considering the slump in commodity prices, what are the challenges facing Papua New Guinea in the current global economic environment? PETER O’NEILL: PNG has had a challenging 2016, there is no secret there, as much as any other resource-based economy around the world. But I still think that there are good opportunities, even under the present economic conditions, as PNG has many engines of growth to tap into. Most likely we won’t see double-digit growth forecasts when…

Overview

A challenging era: As global commodity prices impact the economy, the country gears up for elections in 2017
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A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom has been rapidly followed by a major downturn, and as a result the government has come under some pressure. Meanwhile, this young country, a land shaped by its many ancient traditions, still faces great challenges in spreading more equitable development. Boosting social and economic…