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PNG Chocolate Brand Manufactured in Belgium
by PNG Business News - June 02, 2021
Mr. Henray van Vyve, Managing Partner of Meurisse Chocolate NV (right), a Belgian Chocolate manufacturer that uses PNG cocoa beans, presents the Papua New Guinea brand to Ambassador Joshua Kalinoe at the PNG Embassy in Brussels, Belgium. (Photo-courtesy of the Embassy of Papua New Guinea, Brussels, Belgium).
A Belgian chocolate manufacturer has included PNG cocoa beans in one of its leading organically grown chocolate product brands.
Meurisse Chocolate NV, established since 1845, is using 100 percent cocoa beans from PNG farmers to produce the dark PNG chocolate brand that is 73% cocoa.
The company also mixes the PNG cocoa with nuts and other ingredients to produce several brands, including the dark caramel and almond brand.
Papua New Guinea's Ambassador to Belgium and the European Union, H E Joshua Kalinoe said the Embassy in Brussels has been promoting PNG products, including cocoa and it is really satisfying to see that the country now has its own brand of chocolate that can be sold in the EU market.
Ambassador Kalinoe who is also Papua New Guinea's Commissioner General to Expo2020 in Dubai said that he has invited the company to join the PNG pavilion to tell the PNG cocoa story from the manufacturer's perspective.
"We are inviting other companies, including those in PNG to join us in telling the PNG story about their products as well, including those in the agriculture sector.
"Our emerging brands like Queen Emma Chocolate and Highlands Honey have been invited to partner with the PNG Expo2020 team as well.
"Apart from telling their stories, the idea is to also expose them to niche market opportunities in their respective products for both market access and technology transfer, he said.
Ambassador Kalinoe said that the PNG Expo2020 team is facilitating a win-win atmosphere where companies create demand for their products for increased sale that would create more demand for our farmers to produce and export, hence facilitating domestic economic growth by creating more jobs in the value chain and also strengthening the country’s balance of payment in the medium to long terms.
“The potential benefits for PNG are convincingly overwhelming if the bureaucrats and policy makers in Waigiani could understand this simple fact and start investing adequately in our participation in Expo 2020. This opportunity of bringing participants from the world together in one village to connect and tell their stories on innovations, technology, culture, and wealth creation amongst themselves happens once every four years,
“The partnership with businesses and other stakeholders that the Government is forcing at the Dubai Exposition is consistent with objectives of our participation strategy and the sub-theme, Connecting Minds and Creating Opportunities for Sustainable Development.” he said
Ambassador Kalinoe said Expo2020 is different from past World Expositions. It's about sharing ideas and learning from each other as well as creating opportunities for trade and investment.
"It is participative in nature where businesses, Governments, academics, artists, city planners, infrastructure specialists, sustainable development experts, research and development as well as mobility experts and others who have a story to tell can participate in the different forums and events of the Expo Program," Ambassador Kalinoe said.
He said the PNG Expo2020 Media and Public Affairs team is developing a number of communication mediums, including a Website, as part of the Communication strategy to inform Papua New Guineans and other stakeholders on the country’s participation and Events.
“We plan to formerly launch these platforms by end of June or early July for access by the public,” Ambassador Kalinoe said.
PNG Business News - March 31, 2021
PNG Ports Explains Their Decision to Deal with Covid-19
COVID-19 had a major impact on Papua New Guinea's exports and port movement, but the PNG Ports Corporation had taken political decisions to handle the situation. In recent months, the world has seen and continues to see a significant shift in everyday lives, which has had significant implications for industry, commerce, and transportation. The pandemic's emergence altered both economic and trade forecasts for 2020. New predictions have reduced forecasts to negative 4.9 per cent, down from an estimate of 3.6 per cent increase in container trade worldwide in the fourth quarter of 2019 to 2.5 per cent in January 2020. PNG Ports chairman Kepas Wali clarified that the company's earnings were the result of tight cost-cutting steps and prudent decisions taken by management. Last year, he said, the closing of borders and prohibitions surrounding the COVID-19 pandemic struck PNG Ports hard, which is dependent on trade. Despite COVID-19, PNG Ports has continued to operate all of its ports. “When COVID-19 hit the country and the world, the management of PNG Ports worked quickly and instituted certain protocols and prevention measures just so we can maintain our ports operations,” he said. “The management’s quick response to the situation has made it possible for all ports to operate during the hit by the pandemic through until now.” He said the pandemic's consequences on the company were expensive, but PNG Ports is happy with the positive results obtained by their management's swift reaction and aims to continue this going forward.
PNG Business News - April 19, 2021
Bekker Says Contract Reviews Are Important
According to PNG Power Ltd, renegotiation and reviews of current contracts with independent power producers (IPPs) make the business healthier and more competitive (PPL). PPL managing director Flagon Bekker made the statement in response to questions raised by IPP industry groups (IP3) about PPL unilaterally reviewing and renegotiating current contracts and contractually negotiated prices to supply electricity to the grid. IPPs, according to Bekker, must be adaptable enough to evolve as fiscal, technical, and environmental factors change with time. “We asked IPPs to respond to a survey late last year where we asked them for their suggestions and next steps in dealing with the current commercial status quo,” he said. “In fact, we offered four or five alternatives to renegotiation. None responded.” According to Bekker, analysis shows that in terms of pricing, spending, and the overall economy, it is best to keep IPPs' share of the total market minimal. “Egypt is the best example of countries that have kept IPPs to a smaller share of the total (market) and found it easier to weather macro-economic shock and have greater freedom in deciding where to source finance for power investment in the future,” he said. “The IPPs not only make the macroeconomy weaker, but they are also the cause of their own problems. “PPL is leading to change this. “IPPs should not resist. “They should partner by suggesting solutions for the future. “PPL will send the survey out again and we hope they respond this time.” According to Bekker, there was a lot of analysis and support focused on post-negotiation evaluations, which shows that the renegotiation process contributes to the discovery of lessons and eventually the execution of those lessons. “Off the top of my head, here is a list of countries that have renegotiated PPAs in full or in part over the years: Philippines, Brazil, India, Argentina, Mexico, Turkey, Poland, China (among others),” Bekker said.
PNG Business News - March 25, 2021
PNG Ports Corporation Records K83mil Profit
PNG Ports Corporation has reported a profit of K83 million for the full year of 2019. This permitted Kumul Consolidated Holdings (KCH) to receive a full-year dividend payment of K21 million, which was finalized yesterday with the presentation of K11.4 million to KCH as a second payment following the first part of K9.6 million paid in November. Chairman Kepas Wali said PNG Ports had had a challenging two years, with the Covid-19 impacting the majority of its business. “We saw a decline in shipment and cargo through our ports, but because management instituted certain stringent measures in management and costs, PNG Ports has been able to maintain a healthy bottom line,” he said. “Despite the Covid-19, we have been able to maintain the ports operationally. Management quickly introduced certain protocols at the ports when the pandemic hit to keep the ports operating. There wasn’t any stage that the ports were closed down. They (PNG Ports Corporation) were able to separate the operation of the ships from the shore so shipping continued and cargo was still transmitted through our shores.” Wali also explained that the dividend was based on a loan agreement they had with Bank South Pacific (BSP), which stipulated that only 25% of profits could be paid out as dividends. The dividend payment for 2019 was timely, according to KCH managing director Isikeli Taureka, since the money would be injected into other state-owned enterprises (SOEs) that were struggling during the Covid-19 period. “One of the things we appreciated is that apart from the major ports, most of the secondary ports around the country are at least recovering cost and breaking even.” The dividend payment was agreed by State Enterprise Minister William Duma. PNG Ports, according to Duma, has been a reliable performer over the years. He stated that the K21 million spent in 2019 was a good effort. “We need every toea and the K21 million is a lot of money and in times like these millions of kina makes a big difference,” he said. PNG Ports Corporation has also paid the government a total of K43 million in royalties.
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PNG Business News - June 15, 2021
PNG Vanilla Company Partners Expo2020 Team
Dr. Nancy Irwin (left) with the Deputy Commissioner General for Expo2020 and Head of the PNG Expo2020 Secretariat, Mrs. Jacinta Warakai-Manua began the partnership to tell the PNG Vanilla story in Dubai, by exchanging ideas in Port Moresby last week. A vanilla production and export company is partnering with the PNG Expo2020 Team to promote their products in the Dubai World Exposition that starts in October this year. KAMAPIM, a company working with landowners in the Madang and Morobe Provinces produces top quality vanilla beans and is already exporting to the EU market. The Managing Director of the company Dr. Nancy Irwin, met with the PNG Commissioner General to Expo2020 Ambassador Joshua Kalinoe and his Deputy Mrs. Jacinta Warakai-Manua in Port Moresby last week to firm up the arrangements. Dr. Irwin said Kamapim (pidgin for develop and to improve) concentrates its efforts in producing the best quality bean for the international market through quality assurance production methods. “PNG farmers can grow anything, they have instinctive ability to grow well any crops. When I first started the project, the quality of the beans were poor, full of fungus due to lack of processing knowledge. We saw huge potential of the organically grown beans and started working with landowners through a cooperative production and marketing structure to improve quality” “The company provide extension services to farmers and buy the beans directly, ensuring farmers are paid a fair price for their efforts”, she said. Dr Irwin said the beans are tested internationally and are consistently classed as the top-quality A grade level. “While PNG has a good perception of growing environment friendly organic vanilla beans, the challenge is for the relevant Government authorities to work with farmers to improve quality. I believe the cooperative production methods applied by our company, Kamapim, could be used nationally as one of the models to improve quality for the export market as well as to maximize revenue gain for farmers”, Dr. Irwin said. She said the company is looking forward to partnering with the PNG Expo2020 Team to tell the PNG story and to connect with niche importers in Dubai and the Arab world in general. Dr. Irwin said the company would promote its products in specially branded PNG Expo2020 containers to create visibility for the country as well as to preserve quality at the company’s cost.
PNG Business News - June 15, 2021
PNGEITI Praises Open Dialogue to Reopen Porgera Mine
The PNG Extractive Industries Transparency Initiative (PNGEITI) has praised the open stakeholder dialogue culminating in reaching consensus to re-open the Pogera Mine in Enga. Parties in April this year sanctioned a “Framework Agreement for the New Pogera Project” which spells out the roadmap to reopen the mine. Mark Bristow, CEO and President of Barrick Gold last week explained key elements of “Framework Agreement for the New Pogera Project” at a public forum at the Piam Oval in Pogera witnessed by PNG Prime Minister James Marape, landowners and other leaders. In the new agreement, PNG stakeholders will together own a 51 % equity stake in the mine while Barrick Niguini Limited (BNL), a joint venture company in which Barrick and Zijin Mining Group each own 50% will hold 49 %. BNL will remain the mine operator. At the end of the first ten year period, the PNG stakeholders will have the option to purchase BNL’s 49 % PNGEITI Head of Secretariat Lucas Alkan remarked that the open discussion throughout the negotiation process on the part of the mine operating lead, Government and landowners has culminated in this agreement signed happily by all parties. “We at the PNGEITI congratulate the Government and the project lead Barrick Gold and other stakeholders for reaching a consensus decision to reopen the mine. “Pogera has been an economic powerhouse for many years and people in the country have been waiting for the outcome. “We commend the Prime Minister, the President and CEO of Barrick Gold Mr. Mark Bristow for the leadership in ensuring that the negotiations were done in the transparent and open manner. “PNG Extractive Industries Transparency highly encourages such openness in the negotiating process for resources benefits and importantly the responsibilities that each stakeholder must take on to ensure smooth flow of proceeds. “We look forward to working with the Government and the project operator in the areas of transparency and accountability to help derive best value for all stakeholders. PNGEITI commitment to reporting on developments in the mining and petroleum space is becoming stronger with new reporting dimensions taking shape as we making progress in promoting transparency and accountability in the PNG mining and petroleum industry” Mr. Alkan said.
PNG Business News - June 14, 2021
BPNG Goes For Review
Treasurer Ian Ling-Stuckey has revealed the terms of reference for a review of the Bank of PNG, as well as the members of the review panel. Former Chief Secretary Robert Igara will lead the study, which was planned in the Supplementary Budget for 2020. Former central bank governor Sir Wilson Kamit and Australian professor Dr Stephen Howes are the two members. “These very eminent people, all of whom have detailed experience of the PNG financial system and reform, will be working to a term of reference approved recently by the NEC,” Ling-Stuckey said. “It is the first review of the central bank and the Central Banking Act 2002 since Sir Mekere Morauta’s financial system reforms when he was prime minister from 1999 to 2002. “Much has changed since then, and the effects of the coronavirus pandemic, along with substantial technological advances, have made the need for a review even more urgent. “The aim is to modernise the bank and the legislation in line with international developments, and make it more responsive to prevailing circumstances while preserving its independence.” The study is scheduled to be finished in time for Parliament's November session. “An independent advisory group was also established by the late Sir Mekere when looking at the changes that led to the Central Banking Act 2000,” he said. “Igara, currently the University of Papua New Guinea chancellor, was chief secretary at the time, and Sir Wilson was the governor of the Central Bank. “Prof Howes, head of the Development Policy Centre at the Australian National University, has long been involved in PNG research and advice and consultation, particularly in relation to national development.” Reference: The National (8 June 2021). “BPNG going for review”.