Country Profile
From The Report: Papua New Guinea 2020
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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. Enjoying 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 foreign exchange and employment. This chapter contains a viewpoint from Prime Minister James Marape.

Articles from this Chapter

Overview

Unique and diverse: The country is rich in cultural and linguistic variation, and is home to a wealth of natural resources
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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. Enjoying heterogeneous landscapes and cultures, PNG is seen as a frontier market in economic terms. Hydrocarbons and mining…

Overview

Careful approach: New extractive projects, fiscal reforms and closer regional ties should help the country navigate a challenging period
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The economic downturn resulting from lower global commodity prices and the completion of the PNG LNG project has 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…

Viewpoint

Equal partners: Prime Minister James Marape, on harnessing the country’s natural resources to overcome the challenges of Covid-19 and develop a more prosperous and equitable society
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Viewpoint:James Marape The election of the current administration arose from a collective desire to “Take Back PNG”. Dreams are free, but the work of reconstruction must start now. Papua New Guinea is blessed with abundant natural resources and, by developing these resources under better term sheets, it is possible for us to achieve our main objectives by 2030. The first year of my tenure – following my assumption of office on May 30, 2019 – was focused on eight key areas to actualise…

Analysis

Changing situation: Questions are being raised about the future trajectory of China’s flagship Belt and Road Initiative amid the Covid-19 pandemic
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The Belt and Road Initiative (BRI) is a far-reaching plan for transnational infrastructure development, connecting five continents through land and sea corridors, and industrial clusters. Launched in 2013, the BRI was initially planned to revive ancient Silk Road trade routes between Eurasia and China, but the scope of the initiative has since extended to cover 138 countries, including 38 in sub-Saharan Africa and 18 in Latin America and the Caribbean. Prior to the Covid-19 pandemic the…