ECONOMIC OPINION UPDATE
Perspectives There’s more activity in the deals space in PNG, certainly. It’s to do with generational change and business owners looking to retire. It’s also about organisations wanting to divest themselves of businesses that are maybe marginal or not core to their business. ‘We also see great movement in the banking sector. There’s more interest in becoming commercial banks. There are several organisations currently looking at getting banking licenses.
Business leaders provide their personal takes on the state of business in Papua New Guinea
Papua New Guinea is a very significant part of Newcrest’s business. Last year, Lihir [the gold mine] produced around 35 per cent of the gold production for the group … and accounted for 35 per cent of the overall revenue. Craig Jones
Chief Operating Officer (PNG), Newcrest Mining
PNG’s oil and gas sector is looking much stronger. We are paying down debt every year, we are depreciating the asset that we built, in the PNG LNG project. Hopefully, future projects will take advantage of that position: the skilled people, the experience in every aspect of large oil and gas projects. Wapu Sonk
Managing Director, Kumul Petroleum Holdings Limited
Zanie Theron
Managing Partner, KPMG PNG
12 BUSINESS ADVANTAGE PAPUA NEW GUINEA
