Caption: Deputy CEO
BSP Johnson Kalo, Editorial Manager OBG Marco Venditti, Country Manager Oxford
Business Group Majo Rosa, Leahy Lewin Lowing Sullivan Partner John Leahy.
By MATTHEW VARI
OXFORD Business Group (OBG) released its third 2014 PNG Report on the economic climate in the country and its performance for the year, in collaboration with the Investment Promotion Authority, PricewaterhouseCoopers, BSP Capital and law firm Leahy Lewin Lowing Sullivan.
The report was released last week and is one from 37 countries that the publishing firms report on.
Founded as a research publishing firm in 1994 by Oxford graduates and originally based in the university town, OBG is today a British company with world-wide reach committed to producing detailed analysis.
Country director Oxford Business Group, Majo Rosa said that the report is a macroeconomic review sector by sector.
“Basically it is an overall analysis, a basic study on every business sector in Papua New Guinea, from economy, banking, capital markets, agriculture, energy, mining, construction, real estate- in order to give international investors a scope of what is going on in the country,” Rosa said.
“How to invest here and what are the opportunities available, the ease of doing business as well as trying to write a business story that nobody really reads in Google.”
“We have our team in the country for 7 months and we meet over 350 leaders, who all come from all over the sector and stakeholders from the Prime Minister Peter O’Neill to different Ministries like National Planning, Agriculture, and Finance.”
She also pointed out that report captures the vital role the private sector has in the sustained growth of the economy and the aftermath of the multi billion kina LNG Project.
“In order to have broader point of view from the Private Sector point of view we also have interviews from ExonMobil, we had an overview from its CEO to portray what is the experience in Papua New Guinea,” she said.
“It answers question of what the state of the country is at the moment, and where we go from here, so we will be including a lot of diversification from different sectors.”
“What is going on with fisheries, mining, agriculture, in the different provinces as well, mining and the advances in energy and the new LNG Project as well.”
She added that the PNG was the only country in the South Pacific region to have a report produced by the highly acclaimed publishing group, with the first report produced in 2012.
“The first report we produced was in 2012 when we were invited by the Investment promotion Authority in 2011, and this is the third edition in PNG,” she explained.
“We are going for the fourth edition in 2015 which we have started development of the report to be released in time for the Pacific Games in July next year.”
With a global readership of over 105,000 readers in Europe, the United States, Asia, and a growing readership in the Middle East and Africa- the report will be a guide to prospective investors and people alike.
“What we are trying to do here is to give a positive impression of what it is do business in Papua New Guinea.”
“The idea is to portray very precisely and very comprehensively the country in order to avoid surprises, but also go through all the challenges so that we portray a country that is not only prosperous but sustainable.”
“If we only talk about the good things in the country than you can just not read the report at all, because you will come here full of hopes and dreams and than reality strikes.”
Subscriptions for the printed copies of the report can be done online at www.oxfordbusinessgroup.com.
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