Water PNG Limited has signed a contract for K43 million for two water supply projects in Kundiawa and Bulolo townships, which would increase water availability for residents. Two water supply contracts were signed: one for K20 million with Water PNG Limited and Kaia Works Civil Engineering Contractors Limited for the Kundiawa water supply project, and ...

The National Airport Corporation Civil Aviation Development Program One upgrade and maintenance is anticipated to be finished in November. According to Rex Kiponge, the NAC's acting managing director. He said that on November 24, all projects under CADIP One (Tranches One, Two, and Three) will come to an end, with the goal of redeveloping and revita...

The PNG Economic Database was inaugurated in Port Moresby by Minister for Treasury Ian Ling-Stuckey. The PNG Economic Database, which dates back to 2012, was created in collaboration between the Crawford School of Australia National University and the UPNG School of Business and Public Policy. PNG Economic Database, according to Ling-Stuckey, is a f...

Papua New Guinea, according to Prime Minister James Marape, "remains open for business" and welcomes genuine foreign investment. On Friday, September 24, he delivered his maiden UN speech at the 76th United Nations General Assembly in New York. PM Marape made the guarantee while giving an update on PNG's extractive sectors in light of the current go...

Photo credit: World Bank To reduce the use of offshore labour, Papua New Guinea Prime Minister James Marape is advocating for the use of local tradesmen and technicians in the building of the P'nyang and Papua LNG projects. The Prime Minister proposed that PNG furnish the labour needed to construct the project facilities while signing framework agre...

According to the World Bank, Papua New Guinea's GDP shrank by 3.9 per cent last year as a result of Coronavirus (Covid-19)-related limitations and lower demand. The fiscal deficit increased to 8.9% of GDP, according to the bank's recent East Asia and Pacific Economic Update report, with income underperformance rather than a dramatic increase in spendin...

Photo credit: UNGA Prime Minister James Marape has attempted to advance a number of issues on behalf of Papua New Guinea and the Pacific Blue Economy at the United Nations Climate Change Conference (COP-26) in November 2021 in the United Kingdom. On Friday, he addressed this in a speech to the United Nations General Assembly (UNGA) in New York City ...

The Ihu Special Economic Zone (ISEZ) project in Kikori, Gulf, Papua New Guinea, will get a grant of K80 million from China. Last week in Port Moresby, Chinese Ambassador Zeng Fanhua signed an economic and technical cooperation agreement with acting Prime Minister and Kikori MP Soroi Eoe. Prime Minister James Marape, according to Eoe, chose to provide t...

(from left to right) PNG NRI, Deputy Director for Research Associate Professor Eugene Ezebilo, NRI Acting Director Dr Osborne Sanida, CEFI Executive Director Saliya Ranasinghe and CEFI Manager Communications and Stakeholder Mobilisation Eva Kuson following the signing of the MoU. A Memorandum of Understanding (MoU) was signed today (24 September 2021) ...

The East Asia and Pacific region’s recovery has been undermined by the spread of the COVID-19 Delta variant, prolonging the distress for firms and households, likely slowing economic growth and increasing inequality, the World Bank said. Economic activity began to slow down in the second quarter of 2021, and growth forecasts have been downgraded for mo...

The final leg of the Papua New Guinea Extractive Industries Transparency Commission Bill covering the Southern Region is underway in Port Moresby this week. Central Governor Robert Agarobe opened yesterday  the workshop with the key message that honesty and transparency must be the cornerstone principle guiding the management of PNG’s resource to deri...

CEFI, the Centre for Excellence in Financial Inclusion has signed a Memorandum of Understanding with PNGX Markets, the PNG Digital ICT Cluster and Emerging Venture Management (Unkapt), together the proponents of the DEFINE Initiative, to provide for a framework of cooperation and communication.  To achieve the targets of the Sustainable Development Goa...

Following the release of its issue paper on October 1st, the Constitutional and Law Reform Commission (CLRC) will review personal income tax rules. According to CLRC Secretary Dr Mange Matui, the Terms of Reference on the revision of Income Tax Laws in Papua New Guinea focuses primarily on the Personal Income Tax paid by public officials and private se...

Kina Securities (KSL) has called off its deal to buy Westpac's Pacific division. Kina and Westpac Banking Corporation have mutually decided to terminate their purchase of Westpac Fiji and Westpac's 89.91 per cent interest in Westpac Bank PNG, which was intended to broaden Kina's market reach. The transaction was subject to numerous regulatory cleara...

According to Investment Promotion Authority (IPA) managing director Clarence Hoot, the total value of the 249 foreign investment proposals in the nation up to last month was about K1.3 billion. He told a business conference that the energy sector had the most proposed investments, totalling K500 million. He stated that the Coronavirus (Covid-19) pandem...

As part of the American Rescue Plan Act, the US government announced $3.8 million in urgent COVID-19 assistance for PNG through the United States Agency for International Development (USAID). This assistance will assist in accelerating widespread and equitable access to and delivery of safe and effective COVID-19 vaccines, strengthening health systems,...