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Photo: PM Marape with International Trade and Investment Minister Hon. Richard Maru and Vice-Minister Hon. Kessy Sawang at the launch of the SEZ Summit on Sunday night.-PM’s Office Media Prime Minister Hon. James Marape says “a sustainable economy is a diversified economy”. He said this on Sunday (May 7, 2023) night when opening the three-day Papua ...

The Honorable Minister for International Trade and Investment, Richard Maru, MP, announced recently that the Marape Government has made a historic decision to establish for the first time, the National Trade Commission Service, starting with establishing eight new Trade Missions around the world this year with the first Trade Mission to be established in ...

The Autonomous Bougainville Government has called on the Papua New Guinea Government to consider a special economic zone from Bougainville as it prepares to host its international summit on Special Economic Zones next week. ABG Acting President Hon. Patrick Nisira made the call in a media conference yesterday where he also announced an open invitation ...

Photo: BSP Group General Manager for Corporate Banking Peter Beswick “Business sentiment is robust following the announcement of the Papua LNG project reaching the front-end engineering and design (FEED) phase and Porgera’s resumption progress announced by Barrick CEO in early April,” according to the BSP Quarter 1 2023 Economic Insight report. BSP’...

The PNG Chamber of Mines and Petroleum (“The Chamber”) has confirmed its council and executives for its next term at its 35th Annual General Meeting held at the Hilton Hotel in Port Moresby last week. President for the Chamber Mr. Anthony Smaré and Senior Vice President- Mr. Richard Kassman (Total Energies) were re-elected unopposed. Vice President Philip...

Photo: PM Marape in a previous meeting with President Biden last year. Prime Minister Hon. James Marape says Papua New Guinea is ready to receive both US President Joe Biden and Indian Prime Minister Hon. Narendra Modi next month (May). PM Marape said this recently (Saturday, April 29, 2023) after the White House officially confirmed today that Pres...

John Rosso, Deputy Prime Minister of Papua New Guinea and Minister for Labour and Immigration, on Friday 21st April announced the reactivation of the multiple-entry component for the short-term business visa for holders of eligible passports. Mr Rosso said the duration of the multiple business visa is 12 months with a 60-day maximum duration for each v...

Photo: BSP Group CEO Mark T. Robinson According to the Pacific Economic & Market Insight report, the US$10 billion (K35.2 billion) Papua LNG project is expected to complete the FEED phase in Q4-2023 or Q1-2024, by when the final investment decision (FID) is expected. BSP Group Chief Executive Officer Mr. Mark Robinson said, “The project represen...

Photo: Bank of Papua New Guinea Acting Governor  Mrs. Elizabeth Genia and Chief Secretary Ivan Pomaleu with CEO’s from nine financial institutions during the launching of the NFIS 2023-2027.  The third National Financial Inclusion Strategy 2023-2027 was launched at the Hilton Hotel on 25th April, 2023 by the Chief Secretary Ivan Pomaleu, OBE.   The ...

Photo credit: AG Energy Limited At the recent launch of the Edevu Hydropower Development, Chinese Ambassador to PNG, Zeng Fanhua, expressed that Prime Minister James Marape has expressed his hope to attract more Chinese enterprises to invest in PNG, which China actively supports to contribute to PNG’s economic development. The ambassador also stated th...

Prime Minister Hon. James Marape has called on all his Ministers, Government Departments and Agencies “not to waste time” when it comes to delivering key impact projects. The Prime Minister sounded this message in no uncertain terms when launching the Edevu Hydropower Reservoir Impoundment at Edevu in Koiari, Central, on Friday, April 21, 2023. The ...

The Nadzab airport redevelopment project, which is valued at K750 million, is nearing completion, with an official launching ceremony scheduled for September 16, Papua New Guinea's 48th Independence anniversary. The project is currently between 80 and 90 percent complete and will cater to a variety of aircraft, including Fokker 100, Boeing B737, and B777 ...

Photo credit: Post Courier The demand for greater contract transparency in the resources sector is growing as Papua New Guinea prepares to release its 8th and 9th PNG Extractive Industries Transparency Initiative (PNGEITI) reports. These reports cover the fiscal years 2020 and 2021, and they offer valuable insights into the operations of the PNG extrac...

The Investment Promotion Authority of PNG through the Office of the Registrar of Companies has announced a successful completion of its data migration process at the end of March. This now means that entity records from the old registry are outdated and not relevant. Clients who need to access historical information about their entities must search the...

The PNG Chamber of Mines and Petroleum has announced the appointment of Ms. Gretel Orake as its new Policy Manager. President for the Chamber of Mines and Petroleum, Mr. Anthony Smaré, said the Chamber is delighted to welcome Ms Orake onto the leadership team at the Chamber. “All corporate players in the mining and petroleum industry know and respect M...

James Marape has urged government regulatory agencies in the agriculture, fisheries, forestry and commodity sectors to embrace accountability and monitor the resources being harvested in the country. This call comes after the Mineral Resources Authority (MRA) launched its data repository recently, which will provide real-time data on minerals produced in ...

Minister for International Trade and Investment, Hon. Richard Maru whilst thanking Kumul Petroleum Holdings Limited (KPHL) for its sponsorship of K100, 000 towards the very first Papua New Guinea (PNG) International Special Economic Zone (SEZ) Summit said KPHL will go beyond being a sponsor to becoming a very important partner in the SEZ journey. “One ...

Photo credit: ADB The Pacific is expected to sustain its economic recovery, with growth across all of Asian Development Bank’s (ADB) Pacific developing member countries this year, according to the Asian Development Outlook (ADO) April 2023, ADB’s flagship economic publication, released today. Pacific economies expanded by an average of 5.2% in 2022 ...