Search Results: fish

According to Des Yaninen, president of the Micro Small Medium Enterprise (MSME) Council, a reduction in employment nationally reflects the current situation of the economy. Commissioner-general of the Internal Revenue Commission (IRC) Sam Koim indicated that private sector employment has decreased, as evidenced by a drop in the salary and earnings tax ...

Photo credit: According to the Bank of Papua New Guinea, total real GDP would rise by about 1.0 per cent in 2021, compared to a previous projection of 2.5 per cent in the bank's March monetary policy statement, Michael Sullivan, President of the Papua New Guinea-European Union Business Council, said. Sullivan made the remarks at the Lamana Hotel in ...

With approximately US$300,000 in funding, technical help, and mentorship support, the European Union (EU) is promoting rural entrepreneurship, investment, and trade programs. It aims to revive the agricultural sector by partnering with private sector innovators such as Agritech, Fintech, supply chain financing, mobile money providers, and other busines...

In a commentary of Stephen Howes, Director of the Development Policy Center and a Professor of Economics at the Crawford School of Public Policy, shared his opinion and discussed how the June ASEAN agricultural visa announcement could develop or evolve. He noted three possibilities. First point he made is the possibility that Asian countries will by al...

A new World Bank report on the challenges facing the Pacific region’s outer island communities identifies investment in people and livelihoods as a key for inclusive economic growth.     Archipelagic Economies: Spatial Economic Development in the Pacific looks at the challenges Pacific governments must address to provide services and infrastructure to ...

The government has improved its economic management to ensure that billions in concessional discoveries are brought into the country to help alleviate the country's currency problems. In a recent speech to Parliament, Treasurer Ian Ling-Stuckey stated. that the government is now attempting to assist businesses in creating a favourable climate. “Busi...

Madang Province's Pacific Maritime Industrial Zone will be redeveloped to become a regional fish processing centre. The National Fisheries Authority and the Treasury Department are collaborating on the project's development and financing plan. Ango Wangatau, head of the National Fisheries Authority, said the regional processing hub will bring togeth...

The absence of a sectorwide strategic plan detailing the sector's future roadmap has been a significant flaw in the transformation. Chairman of the National Fisheries Authority Ango Wangatau made this comment during the introduction of the NFA's 10-year strategic plan. While annual development programs were driven primarily by the parameters of annu...

When PNG becomes 50 years old in 2025, the Marape/Basil government hopes to complete its Connect PNG Road Program, which will connect the country's missing links. David Wereh, the Works Secretary, and his staff are currently working to connect all of the highways in the Northern and Highlands areas. He said the Department of Works and Implementation...

Domestic economic activity decreased in 2020, according to economic data accessible to the Bank of PNG, despite a rebound in the December quarter. The drop, according to the Central Bank, was caused by the Coronavirus pandemic, which had a negative influence on the world economy, as well as the government's subsequent containment efforts following the ...

The PNG Extractive Industries Transparency Initiative (PNGEITI) will extend to include three additional non-renewable industries, according to Chris Tabel, deputy head of the national secretariat. The forestry, agricultural, and fisheries industries, according to Tabel, sought to imitate the EITI model. He said that the EITI policy, which is present...

Photo Credit: The National Fisheries Authority The National Fisheries Authority (NFA) is the latest Government organization to join the Expo2020 Team to tell the Papua New Guinea story on the fisheries industry.  The Authority will inform the world stockholders on Papua New Guinea’s efforts to commercialise our tuna resources in a sustainable way, i...

External investors can now apply to do business in Bougainville under an amended Inward Investment Act. ABG Minister for Commerce, Trade and Industry Hon. Patrick Nisira made this announcement recently saying that Bougainville is ‘open for business’. “We are looking to deliver on the Autonomous Bougainville Government’s ambition for a strong local e...

Here is a recent study that investigates the mechanisms of arsenic partitioning into, or out of, streambed sediments downstream of the Porgera Gold Mine in Papua New Guinea. [1] Arsenic (As) is a metalloid element with atomic number 33. Arsenic is known to be released in the environment during gold mining activities. Preventing toxic contamination of s...

As part of their involvement in the battle against COVID-19, Prime Minister Hon. James Marape, MP has called on Japan, Australia, and New Zealand to open up an economic bubble with Pacific Island countries. During the 9th Pacific Alliance Leaders Meeting (PALM), which was held online, the Prime Minister made this request. COVID-19, he added, was not ju...

As the 12 smallest Pacific island countries (PIC-12) recover from the immediate shock of the (COVID-19) pandemic, the Asian Development Bank has endorsed a new 5-year strategy aimed at building resilience against economic shocks, delivering sustainable services, and promoting inclusive and sustainable growth. The Cook Islands, the Federated States of M...

Photo Credit: World Bank Group   The World Bank Board of Executive Directors recently approved a US$100 million (PGK 352 million equivalent) operation to support Papua New Guinea in its response to COVID-19, and to lay important foundations for a sustainable recovery. With Papua New Guinea’s economy entering the COVID-19 crisis with limited resil...

Hon. Yoshihide Suga, Japan's Prime Minister, has stated that his country will support Papua New Guinea's electricity initiative, supply road building equipment, and assist with a 30-billion-yen (K1 billion) emergency loan. During a virtual online bilateral summit between the two leaders, he offered this promise. “As part of our cooperation, we will ...