This decline is expected to persist due to lingering effects of January's civil unrest, resulting in continued pressure on business revenues and employment levels in the non-mineral private sector in the first half of 2024. The Bank's forecast for PNG's domestic growth in 2023 is a modest real GDP growth of 1.4 percent, a significant drop from the 5.2 ...

Bank of Papua New Guinea (BPNG) Governor, Ms. Elizabeth Genia, recently gave key insights into the nation's economic challenges against the backdrop of global economic projections. The Central Bank chief focused on the resilience of Papua New Guinea's private sector amid formidable challenges and crucial strategic shifts in policy. The private secto...

The Member for Vanimo Green, Hon. Belden Namah is seeking the support of the National Government to assist his District to develop the much talked about Vanimo Free Trade Zone (FTZ). The Vanimo FTZ has been on the drawing board over the last 20 years after been initiated by the former Sandaun Governor, Late John Tekwie. In response to Hon. Namah’s form...

Qantas has announced the launch of a new direct connection between Sydney and Port Moresby. The national carrier inaugurated its maiden service on 2 April, marking its first commercial passenger flight between the two cities in over five decades. Operating twice a week, the new service will be facilitated by Qantas’ Boeing 737 aircraft, effectively add...

Economic growth in the Pacific is projected to moderate in 2024 before picking up in 2025, according to the Asian Development Outlook (ADO) April 2024, ADB’s flagship economic publication, released today. The Pacific economies expanded by an average of 3.5% in 2023 as business activity resumed in earnest after the COVID-19 pandemic. Growth of 3.3% is p...

The European Union has taken a significant step towards fostering sustainable development in Papua New Guinea (PNG) with the launch of the 2024 (Neighborhood, Development, and International Cooperation Instrument) NDICI Civil Society Organizations and NDICI Human Rights program. This initiative invites both civil society organizations and international...

Papua New Guinea (PNG) will maintain its position of last 10 years to not be part of PACER Plus, says the Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru made this statement in his first meeting with the new Australian High Commissioner to PNG, His Excellency John Feakes. Minister Maru said: “I want to make it very cle...

Papua New Guinea's Carbon Market Regulation Initiative promises significant benefits for local communities, as it negotiates for a 50- to 60-percent range of benefits from developers. Guided by the Climate Change Development Authority (CCDA) under the Paris Agreement Act, these regulations aim to address climate change issues while ensuring economic st...

One of the greatest challenges for the global community is to sustainably conserve our environment while attracting investors for resource development. A pivotal moment in this ongoing endeavor unfolded with the recent visit of National Executive Director of French Development Agency (AFD) Philippe Orliange, resulting in a high-level dialogue on the de...

This year’s Business Conditions Index indicates a positive path for growth, as revealed in the 2024 CEO Survey. Westpac Bank PNG Ltd Senior Economist Justin Smirk interpreted the results of the survey during the company’s recent sponsored breakfast at Stanley Hotel-Port Moresby on 20th March. The information offered clear insight into experiences in...

Santos is proud to partner with Telikom PNG in developing an evolving telecommunications landscape in the LNG and Santos project facilities and communities through a 10-year partnership. A Co-Location Agreement was signed between Telikom PNG CEO, Amos Tepi, and Santos Country Chair PNG, Leon Buskens this week in Port Moresby. This collaboration will be...

After 50 years of diplomatic relationship between the Independent State of Papua New Guinea (PNG) and the Republic of the Philippines, the Trade Ministers of both countries have agreed for the first ever Trade Committee Meeting between the two countries to be held in Manila on June 17-18, 2024. The PNG Minister for International Trade and Investment, Hon....

The National Executive Council (NEC) in its Decision No: 43/2024 approved for Tony Blair Institute for Global Change (TBI) to be officially invited to visit Papua New Guinea (PNG) for exploratory discussion to open an office in PNG. This is following a very strong representation made by the Global Managing Director of the TBI, Mr. Michael McNair in a meet...

Prime Minister Hon. James Marape says Papua New Guinea can learn from countries like South Korea, in terms of quality Government service delivery and significantly improving living standards of citizens. Prime Minister Marape, upon emphasising the importance of quality delivery of leadership and service for the country to enable an efficient public ser...

Steamships and Pacific Palms Property were proud to celebrate a significant milestone, officially opening the flagship development, Harbourside South, Harbourside Precinct’s newest property located in Port Moresby’s CBD.  The momentous occasion was attended by Prime Minister Hon. James Marape, Governor Hon. Powes Parkop, Barnaby Swire, Chairman of the ...

The Papua New Guinea National Institute of Standards and Industrial Technology (PNG NISIT) has officially signed the Memorandum of Understanding with the Standard and Industrial Research Institute of Malaysia (SIRIM) Berhad in the field of science and technology on the 29th of February 2024, in Malaysia. SIRIM President and Group Chief Executive Office...