When Elites Leave and Foreigners Stay: A Tale of Two Economies in PNG

7/5/2025

Commentary by George Lemako

Abandoned by Their Own: How Foreigners Fill PNG’s Local Business Void

One of the most overlooked realities in Papua New Guinea’s economic landscape is the silent exit of local elites from communities that once nurtured them. For many educated Papua New Guineans, a university degree and a job in Port Moresby or overseas represent escape routes from poverty and the difficult conditions in settlements and rural areas. Once success is achieved, the first instinct is to distance themselves from the "traditional life" and embrace a lifestyle surrounded by city lights, modern comforts, and social prestige.

PNG Ok Tedi Posts Strong Q1 with US$460M Revenue

6/5/2025

Nationally-owned Ok Tedi Mining Limited (OTML) reported a strong first quarter for 2025, generating US$460 million (K1.85 billion) in revenue. The company produced 28,000 tonnes of copper and 74,000 ounces of gold, citing higher commodity prices and copper sales for the improved profitability. CEO Kedi Ilimbit highlighted operational discipline and the company's "Growth 2050" strategy.

PNG Economy Shows Signs of Growth, CEOs Report Increased Optimism

20/3/2025

Papua New Guinea's economic outlook for 2025 appears more promising compared to the previous year, based on a survey of chief executive officers (CEOs).

According to the findings of the PNG 100 CEO annual survey, business sentiment has improved despite ongoing challenges such as foreign exchange availability, security concerns, and unreliable power and water services. The survey, which has tracked business confidence trends since 2012, was conducted by Business Advantage International in collaboration with Westpac.

Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

24/1/2025

Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

Papua New Guinea's Central Province is actively inviting foreign investors and businesses to collaborate in advancing its economic development. After nearly five decades of being situated on the border of the National Capital District, the province is now leveraging its strategic location and vast potential to attract partnerships.

Regional Member Rufina Peter, speaking at the Central Chamber of Commerce and Industry's (CCCI) inaugural meet-and-greet event on Thursday, emphasized the need for Central Province to reclaim control of its economic destiny. She stated that the past five decades have provided valuable lessons and experiences to rebuild, establish new foundations, and eliminate ineffective initiatives.

Papua LNG Tender Revised to Ensure Economic Feasibility, Says PM Marape

23/1/2025

Papua LNG Tender Revised to Ensure Economic Feasibility, Says PM Marape

Papua New Guinea Prime Minister James Marape has revealed that the initial tender of US$18 billion (about K72 billion) for the construction of the Papua LNG project was deemed economically unfeasible, prompting a comprehensive review by project partners. Marape made this announcement after meeting TotalEnergies chief executive officer Patrick Pouyanné during the World Economic Forum in Davos, Switzerland.

According to Marape, the Papua LNG project has undergone significant re-engineering and re-scoping to ensure economic viability. He confirmed that the revised plans are now in advanced stages, with the project set to transition from the concept phase to final investment decisions and development by the end of the year. Pouyanné assured Marape that the project remains on track, with strong commitments from lead investors TotalEnergies and ExxonMobil.

China, Indonesia Trade Talks Central to PNG’s Investment Strategy

10/12/2024

Papua New Guinea is actively negotiating free trade agreements with China and Indonesia to enhance economic opportunities and expand trade, according to International Trade and Investment Minister Richard Maru. He stressed the importance of securing free access to these vital markets as part of the country’s broader investment strategy.

Maru highlighted PNG’s ongoing challenges, including high unemployment, law and order issues, unreliable and expensive electricity, foreign exchange shortages, and limited State land for investments. Despite these hurdles, he said PNG remains an attractive destination for investors, citing the nation’s rich natural resources, fertile land, green energy potential, and proximity to Indonesia.

<<Previous

Forward>>

When Elites Leave and Foreigners Stay: A Tale of Two Economies in PNG

PNG Ok Tedi Posts Strong Q1 with US$460M Revenue

PNG Economy Shows Signs of Growth, CEOs Report Increased Optimism

Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

Papua LNG Tender Revised to Ensure Economic Feasibility, Says PM Marape

China, Indonesia Trade Talks Central to PNG’s Investment Strategy

Papua New Guinea Economy Watch

Mining & Petroleum

About

Terms

Advertisement

When Elites Leave and Foreigners Stay: A Tale of Two Economies in PNG

PNG Ok Tedi Posts Strong Q1 with US$460M Revenue

PNG Economy Shows Signs of Growth, CEOs Report Increased Optimism

​Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

Papua LNG Tender Revised to Ensure Economic Feasibility, Says PM Marape

​China, Indonesia Trade Talks Central to PNG’s Investment Strategy

Papua New Guinea Economy Watch

Mining & Petroleum

About

Terms

Advertisement

Papua New Guinea's Central Province Targets Economic Growth Through Investor Partnerships

China, Indonesia Trade Talks Central to PNG’s Investment Strategy