The gross domestic product (GDP) of Papua New Guinea (PNG) grew at an annual average rate of nearly 7% between 2007 and 2010, and is expected to perform even better in 2011. Moreover, the economy remained unaffected even at the peak of the global economic crisis, when most other major Southeast Asian and Pacific economies recorded low or negative GDP growth rates. Sound macroeconomic management in the recent past and planned initiatives such as the PNG LNG Project indicate that the economy will continue to perform well in the medium to long run.
The economic growth outlook for developing Asia remains vibrant. AsianDevelopment Outlook 2018 foresees continued momentum after growth accelerated to 6.1% in 2017. The region is expected to expand by 6.0% in
Various report by Asian Development Bank across various sectors in Papua New Guinea
The National Airports Corporation (NAC) is the executing Agency (EA) of the Civil Aviation Development Investment Program (CADIP) in Papua New Guinea. The EA has set up a Project Implementation Unit (PIU) headed by a Program Director to implement CADIP. The PIU is comprised of a team of designated designed engineers and other support staff for the initial scoping of works to design and planning (including tendering processes) to the execution of the civil works and reporting to the stake holders. CADIP ensures compliance to ADB and GoPNG requirements at all times.
The Highlands Region of Papua New Guinea (PNG), comprising of the Provinces of Western Highlands, Jiwaka, Southern Highlands, Hela, Eastern Highlands, Enga and Simbu, is a major contributor to the PNG economy through its agricultural production and mineral resources. A well maintained road network is essential to facilitate the movement of goods and people.
The Government of Papua New Guinea (the Government) has requested the Asian Development Bank (ADB) to provide further assistance in the maritime sector through replacement of existing or previously evident coastal navigational aids (navaids) as well as installation of new navaids. The project will enhance the social and economic development in coastal areas by providing safer transit of international shipping in PNG shipping lanes, and by providing navigational assistance to community coastal traffic.
The objectives of the Wutung Pilot Border Trade Investment Development Project
(PBTIDP) are to remove the infrastructure bottleneck on the transport corridor and to
improve the investment environment in West Sepik Province (WSP) so that trade
opportunities can be opened up and potential businesses promoted in the region. The
Project aims to develop WSP into a dynamic growth centre for Papua New Guinea
(PNG) that can drive the development of the Momase Region including East Sepik,
Madang and Morobe Provinces and to other parts of PNG.
The project will strengthen the rural health system in selected areas of Papua New Guinea (PNG) by increasing the coverage and quality of primary health care (PHC) in partnership with both state and nonstate service providers through supporting the Government of PNG in implementing the National Health Plan (NHP) as it relates to rural health.
SDG
Latest update on PAcific Countries and their economy by the Asian Development Bank