Un this episode:
PNG’s economy consists of a large informal sector, which employs the majority of the population, and a small formal sector, concentrated mainly on the export of natural resources. 85 percent of the people sustain their livelihoods through agricultural means. Mineral deposits, including copper, gold, and oil, account for nearly two-thirds of export earnings.
Like other countries, PNG has many challenges with regards to its economy. One of the challenges that raises a lot of concern is the high cost of doing business. The government aims to work effectively with the private sector to address the issues regarding the high cost of doing business, and other challenges for the country’s economy. It faces the challenge of growing PNG’s economy, while at the same time maintaining investor confidence.
Featuring Asian Development Bank private sector specialist Dr Paul Holden, this episode covers the challenges of doing business in PNG. Dr Holden speaks at the Port Moresby Chamber of Commerce and Industry breakfast and is responded to by Prime Minister Peter O’Neill. Dr Holden also features in an exclusive interview with David Conn. Other analysts present their views on the topic as well.
The episode also introduces the new monthly Entrepreneur Engage segment. The inaugural segment puts the spotlight on the very people who run the spotlights. The segment features the owners of lights, sounds and events company Blue 7 Team.