Oxford Business Group (OBG)

New investments hoped to boost rebound

However, the Oxford Business Group (OBG) says there are concerns proposed legislative changes could hinder activity moving forward.

In December Australian company Newcrest Mining and its partner, South Africa’s Harmony Gold, signed a memorandum of understanding (MoU) with PNG’s government over a potential PGK9.1bn ($2.8bn) investment to develop the Wafi-Golpu mine, a copper-gold asset in Morobe Province.

OBG report to examine PNG’s fiscal policies

It will also consider whether the country’s year as chair of APEC delivered the desired economic results in 2018 and beyond.  

The Report: Papua New Guinea 2019 will examine the government’s new fiscal policies, which are being formulated against a backdrop of rising commodity prices and will spearhead its bid to tackle the challenges the country faces, such as foreign currency shortages and high levels of public debt.