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Report | The Report: Papua New Guinea 2015

Following successful completion of the Papua New Guinea liquefied natural gas project, the country is experiencing a surge of optimism about foreign investment and overall economic growth. PNG remains favoured by its traditional investors such as Australia, but it is increasingly a target for new players, including China and Japan.

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Chapter | Legal Framework from The Report: Papua New Guinea 2015

This chapter examines the legislation in Papua New Guinea that affects enterprises and investors. It focuses on the laws that encourage investment, on the creation of a new environment protection authority and on the rules governing the registration of business names.

Chapter | Tax from The Report: Papua New Guinea 2015

This chapter examines Papua New Guinea’s taxation rules, outlining the government’s focus on improving tax compliance, new double tax agreements recently signed and current corporate taxation guidelines. It also contains a viewpoint from Jonathan Seeto, Managing Partner, PwC.

Chapter | Health & Education from The Report: Papua New Guinea 2015

Papua New Guinea’s health care system is delineated in the National Health Plan 2011-20, which places a distinct emphasis on the provision of basic care for the country’s poor and rural population. A new free primary care programme, launched by the government in 2014, eliminates all user fees from medical centres and clinics, with the aim of making basic health care free for all Papua New Guineans. The shortfalls in PNG’s health sector are numerous and the reasons complex. Many of the challenges are linked to obstacles in other sectors, such as transport, infrastructure, manufacturing, education and security. It will be difficult for the health sector to improve without concurrent improvements in these areas. The international community is contributing and playing its part to help PNG improve its health care delivery, facilities and services, but there is room for more activity, especially from the private sector. As PNG sees its population increase, the demand for education at all levels is also rising. The country is starting to build the infrastructure and train the educators necessary to cater for this large group of students. However, the sector is still in its early days, and outside assistance and investment is very much welcome in terms of funding and managerial assistance. This chapter contains an interview with Dr Amyna Sultan, CEO, Pacific International Hospital.

Chapter | Regions from The Report: Papua New Guinea 2015

Across its four regions and 22 provinces, Papua New Guinea contains an impressive diversity of linguistic, ethnic and cultural groups. From the coasts of autonomous Bougainville to the rocky peaks of the Bismarck range in the highlands, and from the dense quarters of the National Capital District to the remote and less-inhabited tributaries of Western Fly Province, these areas – even within themselves – show a high degree of geographical, cultural, and political variety. Among the most dynamic patches is the province of Morobe, on the north-east coast, due north of Port Moresby. This region is PNG’s industrial heartland, as well as a thriving commercial hub. Its capital, Lae, is also an educational centre and the staging point for transport into the highlands and beyond. Through its port, Lae connects the farm and mineral produce of the interior with the busy shipping lanes of the South Pacific. With abundant natural resources and a strategic location, Morobe is likely to benefit considerably from PNG’s economic growth in the near to medium term. This chapter contains a viewpoint from David J Alcock, CEO, Mainland Holdings; and an interview with Kelly Naru, Governor, Morobe Province.

Chapter | Tourism from The Report: Papua New Guinea 2015

With fewer than 50,000 visitors travelling to Papua New Guinea each year for leisure, according to figures from the PNG Tourism Promotion Authority (TPA), the country is far from a mainstream tourism destination. The sector remains largely undeveloped and is a relatively minor contributor to the overall economy. PNG is a challenging destination to travel to and within. Yet the more intrepid traveller who is willing to overcome some of the associated concerns and costs will be rewarded with a sense of adventure and authenticity that is difficult to match elsewhere. PNG boasts a diversity of attractions bundled together. And while not catering to the mass holiday market, enthusiasts in pursuit of any combination of distinct local cultures, history from the Second World War, unique flora and fauna, and some of the world’s best hiking, surfing and dive spots will not leave disappointed. This chapter contains an interview with Richard Knight, Owner, Loloata Island Resort.

Chapter | Agriculture & Fisheries from The Report: Papua New Guinea 2015

While overshadowed by energy and mining investments, Papua New Guinea’s agricultural sector is a key earner of foreign currency and a primary employer for many of its citizens. The country’s fertile land makes the sector and its downstream processing and value-added spin-offs the most viable option for absorbing its growing workforce, while continuing to provide potential for the economy in the long term. The palm oil industry dominates the sector, accounting for two-thirds of all agriculture exports excluding the forestry and fisheries industries. While the smaller fisheries benefit the country by supplying local markets with fish and modest exports when their respective fisheries are healthy, the sector remains largely reliant upon the tuna trade. The government has allocated significant funding for agriculture development, which should help the industry become more cost competitive in the long run. Growth will come from several subsectors, including improvements in the cultivation of coffee and cocoa as a result of yield-boosting initiatives. This chapter contains interviews with Pedro Celso, CEO, RD Tuna; and John Nightingale, Managing Director, Agmark.