Businesses remain optimistic

The National Business

Business houses remain optimistic about this year despite significant volatility, according to the latest PNG 100 CEO (chief executive officer) survey released yesterday.
The PNG 100 CEO survey was released by Business Advantage International and Westpac PNG, which feature for the first time the country’s inaugural Business Expectations Index.
Business Advantage International publishing director Andrew Wilkins said since 2012, the PNG 100 CEO survey had asked the CEO’s of the country’s top companies their profit, investment and recruitment expectations for the year ahead.
“We also ask businesses about the impediments they face,” he said.
The survey’s key findings include:

  • Almost 50 per cent of CEOs said they were expecting profits to be higher in 2020 than in 2019, while just 17 per cent were expecting profits to drop this year;
  • Around 50 per cent also said they were planning to invest more in 2020 than in 2019, while just under 20 per cent said they would be reducing their spend; and,
  • In mixed news for Papua New Guinea’s workforce, 36 per cent of CEOs surveyed said they were planning to employ more people in 2020, while 22 per cent were planning to reduce their staffing levels this year.