Country Profile
From The Report: Papua New Guinea 2019
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Papua New Guinea is a vast archipelago, of which the main island – shared with Indonesia – forms the largest tropical island on Earth. Known for its unique flora and fauna, the country is famous for its environmental variety. However, with more than 850 languages spoken within its borders, it is also considered one of the most culturally diverse nations in the world. While it enjoys heterogeneous landscapes and cultures, PNG is seen as a frontier market in economic terms. Hydrocarbons and mining are the cornerstones of production, thus there is significant scope for the development of nearly all other sectors. Agriculture and tourism are seen as prime engines for diversification, offering the potential to generate much-needed foreign exchange and employment. This chapter also contains interviews with Prime Minister James Marape; and Powes Parkop, Governor of the National Capital District.

Articles from this Chapter

Overview

Resourceful and diversified: Ample natural resources have placed the country on firm footing
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Papua New Guinea is a vast archipelago, of which the main island – shared with Indonesia – forms the largest tropical island on Earth. Known for its unique flora and fauna, the country is famous for its environmental variety. However, with more than 850 languages spoken within its borders, it is also considered one of the most culturally diverse nations in the world. While it enjoys heterogeneous landscapes and cultures, PNG is seen as a frontier market in economic terms. Hydrocarbons and mining…

Overview

Encouraging prospects: A new government aims to maintain investor confidence alongside robust growth projections
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The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project have led to some criticism of the national administration; thus, the future for Papua New Guinea must be navigated with care. Peter O’Neill, who secured a fourth term as prime minister in the mid-2017 elections, faced the threat of a vote of no confidence in mid-2019. He resigned in May 2019 and Parliament elected James Marape, the former minister of finance and representative of the electorate…

Interview

Growing the base: Prime Minister James Marape, on strengthening regional ties, prioritising key sectors and supporting small businesses
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Interview: Prime Minister James Marape How do you assess Papua New Guinea’s economic outlook for 2019 and 2020? JAMES MARAPE: The economy is not performing well. Delivering the budget is one of the biggest challenges we currently face, due to cash flow problems and the repayment of debts. The ability to deliver the 2019 budget is a key indicator of our performance. If we are doing well, and there is excessive revenue, we do not need a supplementary budget. At the moment, we are underperforming;…

Analysis

A new direction: Policy changes could bring long-term reforms to key sectors
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The former minister of finance, James Marape became the eighth prime minister of Papua New Guinea on May 30, 2019 following the resignation of his predecessor, Peter O’Neill, after eight years in office. In a break with O’Neill’s approach, Prime Minister Marape struck a somewhat nationalistic tone in his first speech to Parliament, and afterwards told media that his government would focus on “taking back the economy”. This statement sparked concerns among foreign businesses and overseas…

Interview

Confident steps: Powes Parkop, Governor of the National Capital District (NCD), on improving the international reputation of Port Moresby
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Interview:Powes Parkop What policies are being pursued by the NCD regional government to reduce crime? POWES PARKOP: Law and order not only has an impact on security in the NCD, but also on other important areas, including quality of life, health, investment and tourism. The population of the city has quadrupled and now stands at almost 1m; however, the number of police officers is only 800. While the government of the NCD has no direct control over police numbers we would like to see more…