The Report: Papua New Guinea 2018

  • ID: 4702503
  • Country Profile
  • Region: Equatorial Guinea, Guinea, Papau New Guinea
  • 224 Pages
  • Oxford Business Group
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FEATURED COMPANIES

  • APEC Secretariat
  • Bank of Papua New Guinea
  • Brian Bell Group
  • Carnival Australia
  • Hornibrook NGI
  • Kina Group
  • MORE

Papua New Guinea in brief

Although 2017 was a challenging year for Papua New Guinea, with subdued GDP growth against a backdrop of fiscal challenges, economic
recovery is gradually gathering steam in 2018. A steady uptick in commodity prices supported export growth and augmented the country’s trade surplus, while agriculture recovered from a severe drought that significantly impacted economic activity in 2016. Additionally, hosting international events such as APEC 2018 should positively influence international perceptions and highlight opportunities available in the country, while planned investments in the extractive industries are positioned to boost the wider economy.

Country Profile

  • Diverse population primarily resides in rural regions
  • Agriculture remains the largest employer, with 85% of jobs
  • Hosting APEC boosts tourism and construction sectors
  • PNG officially commits to the Belt and Road Initiative
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • APEC Secretariat
  • Bank of Papua New Guinea
  • Brian Bell Group
  • Carnival Australia
  • Hornibrook NGI
  • Kina Group
  • MORE

SNAPSHOT

  • Papua New Guinea in brief

COUNTRY PROFILE

  • Diverse and dispersed: A variety of cultures and landscapes throughout rural regions
  • Interview: Prime Minister Peter O’Neill
  • Onwards and upwards: Following elections in 2017, self-sufficiency and diversification are prioritised as the country hosts APEC
  • On the road: China’s Belt and Road Initiative is reshaping infrastructure in various Eurasian, Pacific and African nations

TRADE & INVESTMENT

  • Trading up: The authorities launch the first-ever national trade policy
  • Interview: Clarence Hoot, Acting Managing Director, Investment Promotion Authority
  • Interview: Julie Bishop, Former Minister of Foreign Affairs of Australia
  • Stronger exports: National development plans focus on supporting local growth
  • Interview: Stephen P Groff, Vice-President, Asian Development Bank
  • Interview: Alan Bollard, Executive Director, APEC Secretariat
  • Opportunity knocks: The government makes the most of its role as host of the 2018 APEC summit
  • Global village: Medium-term prospects suggest globalisation is set to continue for the foreseeable future

ECONOMY

  • Towards recovery: Regulatory reforms aim to boost government revenues and develop the non-extractive industries
  • Interview: Charles Abel, Deputy Prime Minister, and Treasurer
  • Business Barometer: PNG CEO Survey
  • Interview: Hulala Tokome, Chairman, National Superannuation Fund
  • Clear objectives: A new government strategy and the budget to target fiscal deficits
  • Interview: David Toua, Chairman, APEC Business Advisory Council
  • Alternative paths: Diversification efforts target infrastructure upgrades
  • Tax liabilities: Impacts of the trend towards lower corporate tax rates on developed and developing economies

BANKING

  • Financing the future: Public and private sector activity set to meet new challenges
  • Interview: Loi Bakani, Governor, Bank of Papua New Guinea
  • Growth unchained: Newly developed technologies coupled with traditional infrastructure upgrades are expanding access to financial services
  • Interview: Robin Fleming, Group CEO, Bank South Pacific
  • Big business: The country’s largest lender is expanding operations across the Asia-Pacific region
  • Fintech revolution: Tech solutions are driving the evolution of the sector landscape

INSURANCE

  • Room to grow: Strong fundamentals and rising demand underpin the expansion of the insurance industry
  • Interview: Keith Land, CEO, Capital Insurance Group
  • Reassuring trend: New reinsurance programmes are bolstering coverage against natural disasters in emerging markets

CAPITAL MARKETS

  • New upgrades: Proposed reforms seek to overhaul the market structure
  • Interview: Greg Pawson, CEO, Kina Group

MINING

  • Showing mettle: Demand brings growth despite legislative challenges
  • Riding the electric wave: Lithium batteries generate opportunity for cobalt and copper
  • Interview: Craig Lennon, Managing Director, and CEO, Highlands Pacific
  • Ready or not: Deep-sea development and the re-opening of giant present opportunities, if they can circumvent challenges

ENERGY

  • The catalyst for progress: Authorities make headway in harnessing energy potential, helping to boost productivity and drive macroeconomic growth
  • Regional powerhouse: Multiple projects in the pipeline to shore up the country’s position as a centre of energy production
  • Interview: Wapu Sonk, Managing Director, Kumul Petroleum
  • Interview: Carolyn Blacklock, Acting Managing Director, PNG Power
  • Reform and renew: Greater energy independence through new strategies and a boost in renewables forms the backbone of government policy

TRANSPORT

  • Road to recovery: The government is prioritising upgrades to roads and airports to boost agriculture, exports, and other key sectors and industries
  • Interview: Paul Abbot, CEO, PNG Air
  • Plane to sea: Significant infrastructure investments and code-share agreements are set to boost international competitiveness in air and sea travel
  • Strengthened capacity: Efforts to upgrade and maintain the Highlands Highway are expected to reduce traffic congestion and logistics expenditure
  • Skybound: Rapid expansion of the global industry propels investment efforts

CONSTRUCTION & REAL ESTATE

  • Playing host: Major developments near completion ahead of the 2018 APEC Leaders’ Summit taking place in Port Moresby
  • Interview: Matthew Lewis, Managing Director, Hornibrook NGI
  • Foreign interests: Infrastructure is increasingly being developed by Chinese firms
  • Interview: Graham Boddington, General Manager, Northbuild Construction
  • Material change: Demand for domestically produced building and construction supplies continues to rise
  • Sustainable urbanisation: As urban populations undergo fast-paced expansion around the globe, city planners are striving to develop efficient spaces
  • A market in the making: Land reform under discussion to expand access to the property
  • Boomtown hopes: Resource projects and large-scale events create demand

INDUSTRY & RETAIL

  • Finding opportunity: State-led efforts support local production, as the sector steadily moves forward
  • Interview: Chey Scovell, CEO, Manufacturers Council of Papua New Guinea
  • Zone coverage: Making moves to bring a series of industrial parks on-line
  • Interview: Ian Clough, Chairman, Brian Bell Group
  • Into high gear: Global economies are preparing for opportunities and challenges in the next industrial revolution
  • Cashing in: While some struggle amid downturn, others find opportunity and prepare for future gains

AGRICULTURE & FISHERIES

  • Fantastic four: Trade continues to be driven by a handful of top-performing exporters, while the legal regime regarding land ownership creates hurdles
  • Interview: Greg Worthington-Eyre, CEO, Trukai Industries
  • Steady evolution: Agri-business projects seek to diversify output and ease dependence on imports
  • Gone fishing: Officials work to increase domestic fish processing
  • Interview: Ritche Rivera, Vice-Chairman, RD Corporation
  • On hold: Tax credit scheme halted for government review
  • Seeking sustainability: Digital and precision farming practices are poised to bolster global agriculture resiliency

ICT

  • Getting up to speed: Technology upgrades and increased competition are expected to bring better services to consumers
  • Interview: Jacky Xu Qiang, CEO, Huawei Pacific
  • Linking up: A subsea cable connecting the country to Australia and the Solomon Islands is set to boost internet speeds and capacity
  • In it together: Three state-owned firms join forces to boost market competition
  • Chain reaction: Fostering blockchain development to boost financial inclusivity
  • Building blocks: Blockchain technology to revolutionise global trade and provide opportunities for the developing world

TOURISM

  • Opportunities for all: The sector looks to diversify source markets and attract broader investment
  • Interview: Ann Sherry, Chairman, Carnival Australia
  • Setting sail: Considerable expansion in the cruise segment as the government looks to tap into niche markets
  • Meeting expectations: Security and industry engagement key to further development in the meetings, incentives, conferences and exhibitions industry

TAX

  • Bird’s-eye view: A high-level look at business taxation law and available incentives
  • Viewpoint: Jonathan Seeto, Territory Senior Partner, PwC

LEGAL FRAMEWORK

  • Leahy Lewin Lowing Sullivan Lawyers
  • Rules and regulations: An overview of the laws and legislation that underpin PNG
  • Viewpoint: Peter Lowing, Partner, Leahy Lewin Lowing Sullivan Lawyers

THE GUIDE

  • Rest and relaxation: Hotels and resorts across the country
  • Listings: Telephone directory of useful public and private entities
  • Facts for visitors: Key information to know before your arrival
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  • APEC Business Advisory Council
  • APEC Secretariat
  • Asian Development Bank
  • Bank of Papua New Guinea
  • Bank South Pacific
  • Brian Bell Group
  • Capital Insurance Group
  • Carnival Australia
  • Highlands Pacific
  • Hornibrook NGI
  • Huawei Pacific
  • Investment Promotion Authority
  • Kina Group
  • Kumul Petroleum
  • Manufacturers Council of Papua New Guinea
  • National Superannuation Fund
  • Northbuild Construction
  • PNG Air
  • PNG Power
  • RD Corporation
  • Trukai Industries
Note: Product cover images may vary from those shown
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