More progress needed: BMI

DESPITE the political certainty provided by the recent election and the vast capital inflows from the PNG LNG project, Business Monitor International is still ranking Papua New Guinea poorly compared to other countries in the region.
More progress needed: BMI More progress needed: BMI More progress needed: BMI More progress needed: BMI More progress needed: BMI

"The country still poses considerable economic and business environment risks as a result of its insufficient infrastructure, high unemployment and history of high inflation, and for these reasons we will need to see more sustained progress before we begin to upgrade PNG's economic and business environment ratings," BMI said in a report on Australasia and South Pacific nations.

BMI considers democracy-challenged Fiji a better bet in terms of its business environment rankings, giving the tourist-driven nation a score of 49.6 out of 100 compared to 40 for PNG.

PNG's score was also considered well below its regional average of 50.6.

"Although PNG's trajectory has improved since 2012, we would need to witness a considerable improvement in the country's insufficient infrastructure, as well as a more sustained investor-friendly push to consider upgrading its overall rating."

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