Search Results: 2022

The Opposition Leader of Papua New Guinea, Hon Joseph Lelang, has questioned the Marape-Rosso Government on its immediate and long-term solutions to resolve the public sector rental crisis being experienced by numerous key government departments in Port Moresby. He said millions of kina has been allocated to address arrears and outstanding claims each ...

With over twenty years at News Corp and the ABC (including as Business Editor), Presenter at Sky News and as an investigative reporter with Four Corners, there is no denying the illustrious Ticky Fullerton is a household name in Australian business circles. She is the author of Watershshed, the first comprehensive book on the future challenges facing Aust...

Investment Promotion Authority celebrates its 30 years of being in operation in the country. Commerce and Industry Minister Henry Amuli said celebrating 30 years of operation is a momentous occasion because the Investment Promotion Authority (IPA) is the top performing agency in the Commerce and Trade ministry. He said that previous prime ministers ...

In 2022, the PNG GDP is anticipated to reach K110 billion. Speaking at the 2022 PNG Update, which was organised by the University of PNG in partnership with the Australia National University, Prime Minister James Marape stated that the GDP of PNG was K79.4 billion in December 2018 and K83.8 billion in 2019. According to him, the government has been ...

Photo credit: Verdict According to Prime Minister James Marape, Papua New Guinea can learn a lot from Israel, particularly in the field of agricultural technology. Marape made the comment in Parliament in response to a query from Morobe Governor Luther Wenge on the potential for PNG to open an embassy in Israel and vice versa as a Christian nation. ...

According to acting chief executive Rodney Begley, PNG Ports Corporation Ltd. is spending K1.5 billion on port infrastructure around the nation. Lae's major dock and tidal basin will get K470 million in investments to become an international freight centre. Begley said that Lae was of interest to the port authorities because 9.9 million tonnes of fr...

The Petroleum Sector National Content Policy is anticipated to be finished by the end of this month and presented to the National Executive Council the following month, according to Department of Petroleum and Energy Secretary David Manau. Manau stated that this strategy will also establish an office to look at the practical elements of assisting the s...

EU-STREIT PNG collaborates with National Fisheries Authority (NFA) to support sustainable development of the fisheries value chain in rural Papua New Guinea. The Food and Agriculture Organization of the United Nations FAO), under the EU-STREIT PNG Programme is partnering with the National Fisheries Authority (NFA) to assist in the sustainable developme...

Photo credit: K92 Mining Inc K92 Mining Inc is pleased to announce results from the ongoing surface and underground diamond drilling of the Kora, Kora South, Judd and Judd South deposits in addition to maiden results from the Kora Northern Deeps target at the Kainantu gold mine in Papua New Guinea. The results for the latest 93 diamond drill holes c...

Photo credit: Department of Prime Minister & National Executive Council After a decade, the PNG/lndonesia SOM was convened in the Indonesian harbour city of Jayapura from 11th-12th October 2022.  The PNG side was led by Mr Frank M. Aisi, Deputy Secretary Policy 1 responsible for Economic and Infrastructure Sectors and International Relations of ...

Photo credit: ABG The 2022 Bougainville Trade and Investment Conference ended on a high note following intensive discussions over the last two days at the Sharp Memorial Youth Center in Arawa. Over the course of the two days, experience-sharing and presentations were delivered by trade and economic experts on how Bougainville can narrow its fiscal g...

Photo: Isi Henry Leonard Tourism, Art and Culture Minister, Isi Henry Leonard has urged that Papua New Guinea must promote domestic tourism as a pathway forward in order to preserve, safeguard and promote the country’s culture. “I wanted to see a simple tourism industry that is more people oriented,” he said. The minister stated this to participatin...

Photo credit: Pixabay The amount of gross foreign exchange reserves at the end of June this year, according to acting Bank of Papua New Guinea governor Benny Popoitai, was US$3.2 billion (about K11.6 billion). At the end of December of last year, there were US$3.2 billion (about K11.3 billion) available. In the bank's March 2022 Quarterly Economi...

To promote private investments in Papua New Guinea's energy industry, the US government, through the US Agency for International Development (USAID), published an investor guide for the sector. The handbook was released in Port Moresby by USAID and the Investment Promotion Authority (IPA) in conjunction with the USAID-PNG Electrification Partnership (P...

Photo: Official ribbon-cutting ceremony at the reopening of the Tourist Information Centre The Tourism Promotion Authority (PNGTPA), just like all National Tourism Offices around the world, is welcoming travellers back to Papua New Guinea with the reopening of the Tourist Information Centre at the Jackson's International Airport in Port Moresby, Friday...

According to Australia's consul general Mark Fox, the country is contributing more than K1 billion to the development of Morobe's port and road infrastructure. According to Fox, investment in the industries was essential to propel the economy because of the province's contribution to PNG's economic growth. Australia is dedicated to providing high-qu...

Photo: Markham Valley, Morobe. Credit: PNG Facts According to Australian consul-general Mark Fox, the Australia-Papua New Guinea collaboration would concentrate on developing PNG's non-resource sector through a variety of initiatives. “While we know that growth in the resources sector in 2022 is expected to be strong at 2.6 per cent, the non-resourc...

Photo: James Marape Prime Minister Hon. James Marape recently (October 11, 2022) welcomed the latest World Bank report on Papua New Guinea. The latest World Bank Economic Update released last month says the economy in PNG is forecast to expand by 4 per cent in 2022, up from 1 per cent in the previous year. This return to growth following a sharp ...