PNG per­spec­tives

Busi­ness lead­ers pro­vide their per­sonal take on Pa­pua New Guinea’s econ­omy.

Business Advantage Papua New Guinea - - Opinion - —Robin Flem­ing, Chief Ex­ec­u­tive Of­fi­cer, Bank of South Pa­cific —Frank Kramer, Chief Ex­ec­u­tive Of­fi­cer, Kramer Ausenco

‘We’d cer­tainly like to see more fo­cus on the agri­cul­tural sec­tor. It’s where the ma­jor­ity of the pop­u­la­tion is go­ing to be able to com­mer­cialise their in­ter­ests in the cus­tom­ary land that’s avail­able to them.

‘If we can get in­fra­struc­ture costs down—land, road, sea and air—then you’re able to take ad­van­tage of a lot of agri­cul­tural ca­pac­ity in the High­lands.’ ‘If you look over the next say ten to 15 years, Asia will re­ally be­come the dom­i­nant source of cap­i­tal, and cap­i­tal’s what PNG needs.

‘We’re try­ing to in­tro­duce as much so­phis­ti­cated struc­tur­ing in PNG deals as we can. This way, we’re set­ting the foun­da­tion for at­tract­ing in­ter­na­tional banks into this mar­ket.

‘What we’re re­ally just try­ing to do is connect trade and cap­i­tal flows be­tween Australia and New Zealand and Asia Pa­cific, that’s our fun­da­men­tal core strat­egy.’

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