Loi Bakani: Enhancing the enabling environment to support E-Business in Papua New Guinea

Presentation talking points by Mr Loi M Bakani, Governor of the Bank of Papua New Guinea, at the BSP E-Business Expo, Port Moresby, 1 February 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Thank you for the invitation extended to the Bank of Papua New Guinea to do a presentation on the central bank's and regulator's perspective concerning E-Business.

Although the terms e-commerce and e-business are often used interchangeably, there are differences. E-commerce is the buying and selling of goods and services on the Internet or other computer network. Any brick and mortar store can become an e-commerce business by adding a virtual storefront with an online catalogue. In most cases, e-business refers exclusively to Internet businesses of buying and selling of goods and services, but it may also refer to any business that uses Internet technology to improve productivity and profitability.