The nation of Papua New Guinea is greatly populated with major sectors as agriculture, forestry and finishing and secondary industry as mining and extraction. Unfortunately, the later contributes more to the national economy than the former but the former employs more than half the labour force. The evident disbalance is one of many problems hindering the potential growth if Papua New Guinea.
The country has a large population comprising largely of young and growing youth. Papua New Guinea falls under the lower income bracket with a high unemployment rate and a whole landscape of resources to be explored. These economic problems were a part of this developing country before the pandemic took hold. These problems have only gotten worse with a pause on export of natural resources which in turn has kicked the GDP into a worrisome state.
Currently, the country might be in a difficult position, but this is also a good opportunity to create a baseline for when the country gets back up, the foundations are solid enough to carry them forward in the right direction. Placement of supportive policies and fiscal measures can help the country rise back up and attract foreign investment to the native land a of great unexplored natural reserves of coal, copper, natural gasand oil in the country. This will help the employment rate in Papua New Guinea as well.
With a right attention to expand other areas of control under public sector like road, electricity, telecommunication and such, the living standard and economic condition of the people will rise too. A report published in the digital channel of Oxford Business group in 2019 called the ICT sector of the country on the cusp of change. The country was moving towards fibre optics at a gradual and sure pace and was set to establish this sector as a promising primary industry of the future in Papua New Guinea. Things would have been easier for enterprises who, currently, invest the highest in their ICT resources to ensure continuity of services in and undisrupted cloud operations. This problem has only been inflated in 2020 forcing many to shut doors while other to bear debts.
It all comes back to the poor economic condition which with the help of new measure can only have gradual growth at best. With the pandemic, every development and plan are halted and Oxtrys will fill the demand and requirements of infrastructure and data storage while the country can restart those plans of development.