Fleming says project talks restore business confidence

OUTCOMES of recent discussions with extractive project developers and the Government are a boost to business confidence, says Bank South Pacific Financial Group Ltd (BSP) chief executive officer Robin Fleming. Fleming said in BSP’s Pacific economic and market insight quarter 3 report that Papua New Guinea’s 2021 forecast growth had been revised following improvements in the large mineral and petroleum industries.
He said this was especially at a time when the State, Kumul and Barrick were progressing with the Porgera commencement agreement, currently in its final stages. “As when these projects come online, economic growth will inevitably receive the much-needed boost following the recent downturn in economic activity,” Fleming said.