Innovative technology has shifted business operations from traditional to modern methods. In an interview with PNG Business News, Remington Group CEO Navin Raju shared his vision and stressed the necessity of adapting to these changes.
The Remington Group Board of Directors recently appointed Raju as the new CEO, recognizing his extensive experience in leadership and business development. Prior to this role, he was CEO of CPL Group PNG and held other senior positions in various companies, including Heli Nuigini Limited.
The Remington Group, formerly a key typewriter distributor in the Pacific and now a leading printer distributor in Papua New Guinea, faces new challenges. Raju mentions that the brand had an early presence in the Fiji Islands, as noted by his father.
"It began with typewriters, and Remington was a significant business across the Pacific. My 80-year-old father noted that Remington sold typewriters in Fiji when he was young," he said.
The Remington brand has been supplying products to PNG since 1948 and has continuously adapted its business model to keep pace with technological advancements and changing times.
"The essence of our business has remained consistent, but we are now facing a pivotal moment. Our line of business is likely to decline as society increasingly adopts paperless solutions and e-commerce."
He stressed that Remington Group must adapt to changing market dynamics. "We aim to find new products and services that match our current offerings. My goal is to grow the business while contributing to the country's growth for the next many more years."
“We aim to be leaders in the print and ICT sectors as technology evolves,” Raju said.
The Remington Group is the preeminent provider of business solutions, print technology, and related services in Papua New Guinea. With an unwavering commitment to quality and local talent development, Remington has been a pivotal entity in PNG’s business sector for 76 years.
Since its inception, the Group has cultivated a comprehensive portfolio, encompassing Remington Technology, FX Business Centre PNG, Premier Business Solutions PNG, and BizPrint PNG. Its extensive national presence extends beyond Port Moresby to several key provinces, including Lae, Madang, Kokopo, Wewak, Goroka, and Mt. Hagen.
Remington’s print technology solutions furnish businesses, government offices, and organizations within PNG with superior operational platforms in business services, document solutions, and commercial printing.
During the interview, Raju detailed his journey to PNG. Originally from Fiji and having grown up in New Zealand, he arrived on a three-year contract in 2010 and has since made PNG his home over the past 14 years.
"My family and I have grown fond of this place. We feel integrated into the country and are committed to PNG," he stated.
He emphasizing the cultural nuances in business settings. Drawing from his Fijian background, he remarked, "I understand Melanesian culture and the challenges that young Papua New Guineans face in the workforce."
He stressed the importance of practical exposure, saying: "While theoretical knowledge is essential, providing practical experiences and exposure is crucial for success."
Raju described the working environment in PNG as dynamic, with daily challenges emerging regularly. "It is vital to understand the social circumstances of employees; often, a missed day of work stems from deeper underlying issues impacting their lives," he concluded.
National Content:
Raju emphasized the importance of having Papua New Guineans in management, advocating for their promotion to senior roles with the right skills. As he shared his past experiences, he noted the need for qualified candidates to prevent mismanagement.
Despite challenges like corruption, fraud, crime, and poor infrastructure in PNG, Raju remains hopeful about nurturing local talent.
“We need to invest in education and provide exposure to prepare Papua New Guineans that can effectively take on leadership roles.”
“Exposure is crucial. People may have the theoretical knowledge, but we must provide them with the practical experiences necessary to succeed,” he asserted.
On Business in PNG:
On the economic front, Raju articulated concerns regarding the business sector, particularly with respect to the availability of foreign exchange.
“Our overheads are considerably affected by the forex situation, making it challenging for us to maintain competitiveness,” he explained. He urged for enhanced government support to improve the operational environment for businesses.
As Remington Group continues to adapt to market demands, Mr. Raju stressed the need for forming partnerships that prioritize local printing over international production.
“We must deliver the right products at competitive prices to remain viable. Increasing business volume is crucial for achieving cost efficiency,” Raju said as he reaffirmed his vision, which now forms the cornerstone of the Remington Group's objectives.
“We have been a part of PNG’s growth for the past 76 years, and this company remains committed to contributing to the nation's development for many more years. We aim to be integral to the print and ICT environment, furthering the advancement of modern technology."
“Our vision is to become a leader in this domain as we pursue our business endeavors. This new vision reflects our ambition to lead and contribute to the country's growth in this sector,” he added.
PNG Business News congratulates CEO Navin Raju on his new role and expresses gratitude to the Remington Group for their ongoing dedication to providing quality services.
The government has reiterated its ambition to achieve carbon neutrality by 2050, with an interim target of a 50-percent reduction by 2030, at the recent Petroleum and Energy Conference 2024.
Recent reports indicate progress, particularly in the agriculture, forestry, and other land use sectors, which have successfully met initial CO2 reduction targets.
Papua New Guinea (PNG) Climate Change Development Authority (CCDA) Acting Managing Director Debra Sungi highlighted the collaborative efforts between the agency, the PNG Forest Authority, and National Energy Authority to advance these objectives.
Sungi said: “In our recent bi-annual update report, which we've submitted off to the United Nations Framework Convention on Climate Change, we have reached our target under the agriculture, forestry, and other land use, which is of 10,000 gigagrams of CO2 equivalent with zero debt in our recent findings.
“That is a positive step that the government have actually taken together with you all in terms of ensuring that we work together in a more sustainable way.
“Those targets are very specific for our agriculture, forestry, and other land use. And that is from our enhanced NDC, which was done back in 2020. We are in 2024, almost halfway through 2030.
“It's a 10-year target. It is a positive milestones which we have achieved together,” she added
Speaking at PEC24, Sungi, emphasized the urgent need for PNG to transition toward greener practices in the face of mounting climate challenges. Her remarks centered on leveraging nature-based solutions to combat climate change, while also promoting sustainable development.
Sungi highlighted the importance of the country’s forests, as reiterated by PNG Prime Minister Hon. James Marape.
"As we engage in international forums, we must fully utilize our forest resources," she stated, noting the increasing frequency of climate-related disasters over the past decade, which have disrupted traditional agricultural practices and altered weather patterns.
Despite contributing a mere 0.001% to global emissions, she argued that PNG cannot afford to ignore the impacts of climate change.
"If we don't take action now, we risk becoming one of the highest emitters in the future," she cautioned.
Sungi also addressed the challenges of financing climate initiatives, noting the delays often associated with accessing international funds like the Green Climate Fund.
"We need to mobilize resources effectively to respond to the immediate impacts of climate change," she urged, noting the importance of public-private partnerships.
The CCDA executive detailed specific goals for transitioning from fossil fuels, particularly diesel-powered plants, to renewable energy sources by 2030. She said the National Energy Rollout Plan outlines potential investments in cleaner energy solutions across identified provinces.
Moreover, Sungi announced recent amendments to the Climate Change Management Act, which will enhance governance around carbon markets, enabling better collaboration between the government, local communities, and the private sector.
This regulatory framework aims to streamline efforts in forestry management and carbon trading.
“I am pleased to say that even after the amendments of the Climate Change Management Act in 2023, we have made some few amendments to allow us as an authority to now manage and govern the space around carbon markets. And we have the regulation that maybe in a couple of days we will have a statement out that we have some endorsement.
“I would like to acknowledge our good Prime Minister in driving this agenda going forward together with our ministers,” she said.
“It a legislation that has been missing for a very long time. And having that around the forestry sector governs our work in terms of working together not only with our local communities, our landowners, but also with the private sectors around a different market approach, which we have identified another carbon market regulation.”
Sungi called for collective action, noting that achieving PNG's climate goals requires partnership across all sectors. "We must ensure that our development is sustainable and inclusive," she stated.
This year's Petroleum and Energy Conference (PEC) attracted an impressive 580 delegates from around the world to Papua New Guinea (PNG), which is the highest attendance to date.
The Managing Director for Kumul Petroleum Holdings Limited, Mr. Wapu Sonk, expressed optimism for future events, stating: "I look forward to a better and bigger event next year, with more exciting projects."
Mr Sonk highlighted the importance of the conference as a platform for networking, idea sharing, and collaboration aimed at enhancing the sustainability and success of the oil, gas, and energy industry in the country.
The conference featured a comprehensive range of discussions, covering topics from green energy to regulatory frameworks, marking a significant step in the evolution of the energy sector.
Mr Sonk reflected on the event's origins in 2016, noting its focus on petroleum and energy discussions distinct from mineral topics.
He pointed out that this focused approach led to meaningful changes, including the establishment of the National Energy Authority (NEA) and the deregulation of PNG Power, allowing for more competitive practices in the industry.
"This event started in 2016, and we had a break in between because of COVID, and this is the sixth edition of the conference. I have to say that I'm proud of the conference. It has achieved a lot, basically."
"The progress we have made has transformed the energy landscape," Mr Sonk said, noting the importance of building trust between the government and investors and the need for balanced relationships to ensure mutual benefits for both the country and the industry.
"Without your support, we would not have had a successful two-day event," he said, thanking sponsors for their vital contributions.
Mr Sonk acknowledged the presence of Prime Minister James Marape and various ministers, including Minister for Energy Thomas Opa.
Minister Opa expressed appreciation on behalf of the Marape-Rosso government and the Department of Energy for the efforts of Kumul Petroleum Holdings Limited (KPHL) in organizing the event, highlighting its role as a vital platform for industry collaboration.
MP Opa, who joined MD Sonk and PM Marape on stage, reinforced the government's dedication to licensing new energy projects.
He said: "In the next 12 months, we would like to come back and say we have covered another 20 or so districts in the MPP through licensing."
Sharing similar sentiments, Prime Minister Marape shared ambitious plans for the energy sector, which aims to expand access to electricity in rural areas by 2030.
"We want to reach out to about 70% of public unions in the rural areas," he said, as the conference concluded with a strong message of collaboration and investment potential in PNG's energy sector, reflecting the government's ongoing commitment to it.
The Papua New Guinea (PNG) Minister for International Trade and Investment, Hon. Richard Maru, said PNG is still facing a pressing energy crisis, nearly half a century after gaining independence.
Minister Maru underscored the urgency of the country’s energy challenges, stating: “We cannot pretend, we can't keep talking about providing for other countries in the world, talking about their energy security when we have serious issues at home.”
He expressed concern over the widespread blackouts affecting everyday life and businesses across the nation that holds back development, including his own region of Sepik, where residents can go up to five days without power.
“This is the reality,” he stated.
Speaking at the Petroleum and Energy Conference 2024 in Port Moresby, Minister Maru expressed gratitude for its location in PNG and acknowledging the critical discussions that needed to take place.
“To me, this is one of our most important conferences. I call on stakeholders to collaboratively tackle the energy crisis that has hindered economic development,” he said.
Despite PNG's abundant natural resources, the nation has failed to capitalize on its hydro, solar, and wave energy potential, Maru said.
“The mining and petroleum sector did not deliver the result we were all expecting. Therefore PNG must now look at the non-resource sector with a focus on energy to drive the economy forward,” Maru said.
“Tourism, downstream processing, manufacturing, fisheries, that is where the future is. It will ride on the back of cheap and reliable energy. So much potential PNG has not turned into energy solutions. This energy crisis has held back the countries development, held back jobs, made it difficult to find investors,” Maru said.
He cited Madang province, where blackouts hinder the establishment of a fish cannery that could create thousands of jobs.
The Minister noted that PNG’s electricity prices are among the highest in the world, which has stunted the nation’s competitive edge in industries reliant on energy. He contrasted PNG's situation with neighboring Indonesia, which benefits from significantly lower energy costs, enabling robust industrial growth.
Maru pointed to the need for a strategic shift toward renewable energy sources, urging the government and stakeholders to develop a comprehensive plan to transition to cleaner energy.
“We must move with the rest of the world,” he said, referencing global trends towards carbon neutrality by 2050.
Citing the low electricity penetration rate — only 19% of the population has access — Maru said: “The rest of the world is nearly 100%.”
He emphasized the urgent need for infrastructure improvements and criticized the lack of progress on the PNG Electricity Partnership agreement signed in 2018.
“We are looking for innovative solutions. We are inviting local and international energy companies to invest in PNG’s energy sector.”
The minister stressed the government’s commitment to deregulating the energy market and offering incentives to attract investment, aiming to increase electricity access to 70% of the population by 2050.
“We have a crisis. I'm not blaming anyone. We all have to take responsibility,” he said.
Maru told PNG Business News in an exclusive interview that Papua New Guinea stands at crossroads, and with strategic partnerships and innovative solutions, the nation can unlock its vast economic potential.
“We can talk all we want at this conference, but the fact is that PNG is facing an energy crisis, and we need to properly address this energy crisis before addressing other sectorial challenges. Energy is key to development,” he said.
Prime Minister James Marape invited international investors and energy experts to collaborate with Papua New Guinea (PNG) in harnessing its diverse energy resources, including hydro, geothermal, and solar power, during his keynote address at the opening of the 2024 Petroleum and Energy Conference at the Hilton Hotel in Port Moresby.
"We offer strong incentives and protections for investors," Marape assured attendees. "Your investments in our cleaner energy solutions will not only yield returns but contribute to a sustainable future."
He emphasized the strategic advantages of PNG's location, being closer to Asian markets, and noted the nation’s vast forests provide a unique opportunity for environmentally-conscious investments, helping to offset carbon footprints.
Marape’s address comes amid a global trend of increasing coal consumption, particularly in Asia, where he urged stakeholders to prioritize environmental stewardship.
He highlighted PNG's carbon-negative status, noting the country's extensive forest resources capable of absorbing over 100 million metric tons of carbon.
Marape also expressed gratitude to Kumul Petroleum, ExxonMobil, and all sponsors for enabling this platform for contemporary energy discussions with a PNG focus.
"I'm honored to open this significant conference, focusing on the critical issue of energy and its impact on our planet, as well as what PNG is doing to regulate and promote the energy sector," he stated.
He called for action against climate change, particularly in the Pacific Region, which faces significant risks despite its minimal carbon footprint, and reiterated PNG’s commitment to leading the change in clean energy production.
"I want to bring the spotlight on the production of heavy carbon-filled fossil fuels, especially coal. It is hard to believe that in this modern age of space travel and superspeed technology, the world is still burning coal," he remarked.
"Coal accounts for the largest share of electricity production worldwide, with gas coming in second. In Asia, economic growth and high populations have led to an unparalleled reliance on coal."
Marape referenced reports from the International Energy Agency, which have highlighted alarming trends in coal consumption.
Figures from 2020 to 2023 reveal that China accounts for a massive 50.5 percent of global coal consumption, followed by India at 11.3 percent, the United States at 8.5 percent, Germany at 3 percent, and South Africa at 2.4 percent, with Poland, Australia, and Brazil also noted.
Recognizing the harmful effects of coal and other heavy carbon fossil fuels, Marape emphasized PNG’s determination to pivot towards sustainable energy solutions.
"PNG is getting our house in order to ‘think globally and act locally’… Our own carbon footprint remains under 10 million metric tonnes, and despite the high cost of energy, we choose to differ now and into the future. We want to remain a clean green country and we want to make and lead this transition to clean energy."
"I firmly believe that liquefied natural gas (LNG) is the best energy source for transition between now and life after 2050, if we are to keep Mother Earth. LNG is cleaner, more efficient, and aligns with our goal of reducing carbon emissions."
"Our liquefied natural gas serves as a crucial transitional energy source, offering a cleaner alternative as we move toward a future powered by renewable energies," he added.
Stakeholders from the business, industrial, and mineral sectors engaged in discussions focused on the development of PNG’s energy landscape, with an emphasis on securing a stable and sustainable energy future.
Marape reaffirmed his government’s commitment to facilitating a secure investment environment while leading the transition away from heavy fossil fuels towards a greener economy.
PEC 2024 is the only industry-specific conference focusing solely on the petroleum and energy sector. This sector is a major contributor to PNG's economic growth, and the event offered a unique platform for ministry officials, industry leaders, resource owners, innovators, and charitable organizations to unite and shape the future of PNG’s energy sector.
Discussions included new policies, upcoming projects, and announcements in the petroleum and energy sector.
Day 1 sessions included:
Day 2 sessions included:
The conference featured 41 official speakers over two days and 48 exhibitors. PNG Business News served as the official media partner of the event, also showcasing a booth during the conference.
The Papua New Guinea National Energy Authority (PNG NEA) has officially launched its Board Charter and Appeals Panel Guidelines, signifying the establishment of its governance framework.
This initiative aims to enhance transparency and accountability within the NEA, ultimately improving the efficiency and fairness of the country's energy sector.
The Appeals Panel Guidelines serve two primary purposes:
On October 15th, key figures from the energy sector convened at Lamana Hotel in Port Moresby for the launch event. Attendees included Board Members, Senior NEA Management, and Appeals Panel Members.
The ceremony featured remarks from Mr. Joseph Gabut, NEA Board Chairman; Mr. James Gore, Appeals Panel Chairman; and Mr. Ronald Maketa, Managing Director of NEA.
The day's agenda included the unveiling of the Board Charter, followed by the Appeals Panel Guidelines, the swearing-in of Board members, and the presentation of certificates to inaugural Appeals Panel Members.
The signatories of the Charter of Good Governance committed to fulfilling their duties with the understanding that they represent the interests of the people of PNG.
In his address, Mr. Gabut emphasized the importance of the new legislative framework, stating: "In public institutions, there are always complaints, which highlights the need for public access to information and community engagement in national development.”
Drawing from his diverse experiences, Gabut expressed confidence in the Appeals Panel's capacity to effectively address grievances.
He underscored the significance of the Board Charter saying, "A good document is essential, but it is the commitment of the board members that will determine its success."
Gabut called on all governance participants to prioritize the welfare of PNG, emphasizing the critical role of integrity in public service.
Appeals Panel:
Mr. Gore, the newly appointed Chairman of the Appeals Panel, recognized the importance of the panel's establishment. "It is our unwavering commitment to uphold integrity, fairness, and professionalism."
Gore outlined the panel's main responsibilities, including reviewing appeals, maintaining transparency, and ensuring high standards of justice.
He noted that the panel would serve as an efficient dispute resolution mechanism, expediting processes and reducing legal costs for stakeholders.
"The primary purpose of the NEA Appeals Panel is to ensure a fair and transparent process for addressing grievances and appeals," Gore explained.
"We will meticulously review appeals submitted by stakeholders, ensuring that each case is evaluated based on merit."
He described the Appeals Panel as a vital mechanism for conflict resolution outside the court system, designed to streamline processes and minimize legal expenses.
The panel operates under established guidelines for receiving, managing, and deciding appeals in accordance with the NEA Act.
The Appeals Panel provides a statutory avenue for applicants to appeal decisions made by mandated individuals under Part IV of the NEA Act before seeking judicial review in the National Court.
“We aim to provide clear explanations of our decisions to all parties involved and uphold the highest standards of justice and fairness,” Gore said.
NEA Managing Director Mr. Maketa highlighted NEA's functions, such as issuing licenses and overseeing compliance with technical standards.
Maketa stressed the urgent need to improve energy connectivity in Papua New Guinea, where significant service gaps remain.
“It is better to have a proper governance in place to guide us through, even though we are very serious in our respective sectors we come from and represent.”
Achieving 100% electricity connectivity by 2050 would require substantial investment, estimated at 15 billion kina, he noted.
“We are trying to assist the government in reaching its mission and vision 2050, 2030. We've got to connect 70% by 2030, and we've got five years."
Maketa pointed out the challenges posed by aging infrastructure, the need for reinvestment and collaboration with independent power producers, and public-private partnerships to address the country’s energy challenges.
“Our board, alongside management and the newly established Appeals Panel, is committed to unlocking potential, improving services, and attracting investors,” he explained.
“If we can offer competitive pricing to manufacturers, we could see significant investment in PNG.”
He concluded by sharing insights on recent licensing successes, including the Namatanae District Development Authority’s concession for energy generation and distribution, which he described as a model for future initiatives.
The Minister for International Trade and Investment, Hon. Richard Maru in his meeting recently with the new Chinese Ambassador to Papua New Guinea (PNG), His Excellency Yang Xiaoguang made a commitment to deliver the PNG-China Free Trade Agreement (FTA) feasibility study report by the end of this month.
Minister Maru said: “This report will determine the viability of an FTA between our two countries. This study has been jointly funded by both the Chinese and the PNG Government at the cost of K1 million each. The final work is now being done to complete the report before it is delivered to both Governments in November. On the process of the PNG side, the report, once it is delivered to me, will be submitted to the Cabinet for deliberation and direction and once that is done, we will proceed from there. If the study finds that it is feasible for us and in our national interest to go ahead with the FTA with China then we will recommend that FTA negotiations must commence in the new year.”
Minister stated that China was fast becoming PNG’s most important trading partner.
“For the past five years, trade between PNG and China has been in the favor of PNG recording surplus balance of trade from 2017-2021. In 2020, PNG exported K6.7 billion to China, imported K2.6 billion from China, with a trade surplus of K4.1 billion. China has been ranked 3rd as top export destination for PNG’s merchandise and also ranked 2nd as top import source for PNG. This indicates that trade with China is economical. We have realized that our future in terms of exports lies with China,” said Minister Maru.
Minister Maru further stated: “After PNG signed the Belt and Road Initiative in 2018, PNG became China’s largest trading partner and investment destination in the region. China aided projects such as roads, bridges, hydropower stations, and have made important contribution to the economic development and people’s livelihood. We are encouraging more Chinese investments in all areas including the Special Economic Zones, mining and petroleum, energy, and fisheries.”
“We are determined to grow and deepen our relationship with China and anchor it through an FTA between our two countries if our joint feasibility study confirms that it is viable and in our national interest to enter into an FTA with China,” added Minister Maru.
Mayur Resources Limited is pleased to announce the signing of a 10-year exclusive Strategic Alliance Agreement (Strategic Alliance) with Guangxi Zhongzi New Materials Co. Limited, a privately owned large-scale Quicklime and Limestone producer operating primarily in China. This agreement provides Mayur with immediate access to superior quality lime products, similar to what will be produced by Mayur’s Central Lime Project (CLP) in the future.
Strategic Alliance Benefits
The Strategic Alliance allows Mayur to immediately lead the branding, marketing, sales, and distribution of Superior Quicklime across Australia and the Pacific with Mayur’s Premium Grade (Typical CaO 92-94%) and Premium+ Grade (Typical CaO 94-96%) Quicklime products. This offers superior quality compared to Australian domestic production and imports from Malaysia and Thailand. This positions Mayur as the leader in providing high-quality Quicklime to these markets.
Long-Term Complement to Mayur’s Own Production
The agreement not only facilitates immediate sales but also complements Mayur’s long-term plans. Once operational, Mayur’s CLP will initially bring an additional 400,000 tonnes per annum of Quick Lime supply online, with immediate plans of expansion beyond two kilns shortly thereafter.
One of the key advantages of this agreement is the guaranteed backup contingency, multi-jurisdiction supply source. Customers can have full confidence that Mayur will provide consistent access to superior Quicklime from multiple jurisdictions, ensuring reliability and supply chain security, all managed through a single, integrated organisation. This multi-jurisdictional sourcing strategy ensures that Mayur can deliver superior Quicklime quality consistently, regardless of market conditions.
Strengthened Supply Chain and Logistics
Our Partner operates several major production facilities across China, with a current capacity of 2 million tonnes per annum of Premium Quicklime. Ongoing expansion projects, including new Quicklime plants and enhanced logistical infrastructure such as a railhead with direct access to seaports, will further improve the efficiency and reliability of supply to Mayur’s customers. Combined with Mayur’s own international wharf facilities under construction, this creates a robust and seamless supply chain.
Immediate Access and Customer Confidence
This Strategic Alliance enables Mayur to offer its customers immediate access to a more diversified product range, with Mayur’s Premium and Premium+ Grade Quicklime products, while providing the assurance of a long-term, secure, and reliable supply once Mayur’s CLP is in production. The superior quality of Mayur’s product offering, combined with a diversified supply base, positions the company to meet the growing demands of the Australian and Pacific markets.
With this collaboration, Mayur is uniquely positioned to deliver a comprehensive, customisable range of superior Quicklime products, tailored to specific market needs. The Strategic Alliance further aligns with Mayur’s strategy to expand its market presence across the Asia-Pacific region and demonstrates its commitment to providing the highest quality products and services.
Mayur will now commence broader engagement with the Quicklime market, providing samples and organising bulk trials. Further updates will be provided as Mayur progresses towards the first sales of Mayur-branded Premium Quicklime.
Prime Minister Hon. James Marape has acknowledged the special bond Papua New Guinea has with Japan, as he congratulated Japan International Cooperation Agency (JICA) on 50 years of delivering Japan’s development assistance to PNG.
JICA, the Japanese government agency that delivers the bulk of the Official Development Assistance (ODA) to developing countries worldwide, opened its office in PNG in 1974, one year before PNG gained its Independence and one year before Japan and PNG began their diplomatic ties.
This year 2024 sees 50 years of JICA’s operation in PNG, which has resulted in many successful initiatives in fisheries, agriculture, health, education, environ- mental protection, rural electrification, and projects such as a fisheries pro- gram with National Fisheries College in New Ireland Province, upgrading of the Port Moresby General Hospital, Port Moresby sewerage project, and the recently opened Nadzab Tomodachi International Airport in Morobe Province.
Prime Minister Marape, on Thursday (17.10.24) evening during a dinner event hosted to mark the occasion, thanked Japan and JICA on behalf of the government and people of Papua New Guinea in a moving speech, describing Japan as a “sincere and genuine friend”.
He said Japan has continually given assistance and support to PNG without asking for special favours, choosing to be with PNG in its infancy with an economy worth less than US$1 billion to now producing resources such as liquefied natural gas, supplying tuna to Japan, and maintaining a robust democracy.
“Your friendship is sincere. You come to the table without asking us to return the favour. You give fully and I want to say PNG subscribes to the principle of those who give freely, with heart.
“It is intrinsically Melanesian and Christian values that those who come to us with no obligation are those we hold as sincere and genuine friends,” said the Prime Minister.
The Prime Minister said because of Japan’s steadfastness in honouring the PNG-Japan partnership, Papua New Guinea would also honour its side of the bond in trade, commerce and investment with Japan; and further invited Japanese businesses to invest in PNG.
He said, “PNG looks forward to our continued journey for modernization as we make progress from a raw-resource-rich export economy to the manufacturing economy in the next 20 years.
“We too look forward to continue the trade and partnership with you, and in our own small way, contribute to peace and tolerance amidst various stresses we have in our shared Pacific Ocean.
“We look forward to standing in every forum to give Japan the needed support as the true friend of PNG because of a friendship that you forged when we were not yet a nation.
“Today is a remarkable celebration. In 1974, you stepped out in faith and established a first partnership agreement (with PNG) even before we became independent. You were among the fore-runners, working the frontier, preparing our country for Independence. Thank you very much,’’ said Prime Minister Marape.
He noted that Japan, in 1974, was still rebuilding its economy having come out of the great destruction of the World War II yet was still willing to give a hand to Papua New Guinea.
“In 1974, you were only about 30 years out of the great destruction of World War 2. But you taught the world the gains of tolerance, humility, forgiveness and kindness. You submitted to your adversary right after the war and you pursued economic progress for yourself.’’
The celebration of the 50th anniversary of Japan’s ODA to PNG was held at Hilton Hotel, attended by diplomats, government department representatives and various partners of the JICA.
Prime Minister Hon. James Marape has described New Zealand as “steady and reliable” in its partnership with Papua New Guinea during his meeting with New Zealand High Commissioner, H.E Peter Zwart recently.
The bilateral meeting saw the two leaders discuss common issues of mutual interest between the two countries, New Zealand’s involvement in community-development projects throughout the country, ongoing technical support to the revitalization of the Papua New Guinea public service, and Bougainville.
In the next three years, New Zealand expects to invest some K350 million into projects and programs in PNG, including the rehabilitation of Lae market which has started.
Prime Minister Marape thanked High Commissioner Zwart and the New Zealand Government for the assistance, and continued his call for technical assistance in the area of expertise to support the public service further.
He acknowledged the similarity of indigenous cultures between Papua New Guinea and the Maori, and appealed for New Zealand’s assistance in supporting the growth of agriculture in the country, while inviting New Zealand companies to extend their investments in PNG.
The Prime Minister highlighted to Mr Zwart the country’s upcoming 50th Independence anniversary next year 2025, revealing that the Government was planning a special reconciliatory event for Bougainville “to bring closure”, which, he said, New Zealand would have a special role to play in because of its continued involvement in the Bougainville peace process.
Prime Minister Hon. James Marape has emphasised that the new casino operations in Port Moresby will be strictly regulated to benefit Papua New Guinea’s economy while safeguarding the welfare of its citizens.
Addressing concerns over the recently launched Paga Hill Special Economic Zone (SEZ) Satellite Casino, Prime Minister Marape clarified that this casino will cater exclusively to “high rollers,” including expatriates, tourists, and high-earning Papua New Guineans.
“Similar to Singapore’s casino model, where locals are protected by specific regulations, we will ensure that only Papua New Guineans with an annual disposable income above K200,000 will be eligible to participate. Entry will require identification and membership,” said Prime Minister Marape.
He further explained that these measures align with recent adjustments to the minimum bet on pokies, increased to K100, to discourage participation by lower-income earners. He stressed that these changes are designed to curb overseas gambling expenditures by affluent Papua New Guineans, who currently travel to destinations such as Cairns, Brisbane, Singapore, and Manila for casino experiences.
“Our primary focus is on attracting international visitors and residents. We’re observing a growing number of Asian visitors for whom gambling is a popular recreational activity. This project is tailored to accommodate these gambling tourists and other international patrons. While there are concerns about unregulated casino-like gambling occurring in some private settings, this licensed casino can serve as a legitimate venue,” he added.
Highlighting the broader economic benefits, Prime Minister Marape underscored the contributions of gaming operations to community funds through the National Gaming Control Board. He stated that the licensed casino will follow this model, channeling a portion of revenue into programmes that benefit the community.
The Paga Hill SEZ project, which features hotels, residences, and commercial centers, is a transitional development poised for long-term expansion pending compliance with regulatory standards. The Prime Minister also announced a priority hiring initiative for local Motu-Koitabuans within the SEZ development.
“While I personally do not advocate for gambling, it’s undeniable that we have expatriates and others among us who participate in such activities. Licensed and regulated casinos offer an avenue for the State to collect taxes, retain spending in-country, create employment opportunities, and contribute to our economy,” said Prime Minister Marape.
“We will trial run this Satellite Casino, and another on a floating ship, which will both be reviewed over time.”
Reflecting on the history of gaming in Papua New Guinea, Prime Minister Marape noted that similar concerns were voiced when pokies were first introduced, yet they have become a regulated part of the country’s landscape for over 30 years. He assured citizens that these casino projects would be introduced as trial initiatives, subject to rigorous oversight to prevent adverse impacts on everyday Papua New Guineans.
Prime Minister Marape concluded, “This SEZ project has been many years in the making. We are committed to ensuring its development aligns with our standards and delivers economic benefits for Papua New Guinea.”
Port Moresby is set to become the heart of Papua New Guinea’s next wave of development and modernisation, with an eye on the booming Asian market, as declared by Prime Minister Hon. James Marape on Friday, October 11, 2024. Speaking at the groundbreaking ceremony for the Paga Hill Special Economic Zone (SEZ) Satellite Casino, Prime Minister Marape emphasised the capital’s role in leading the country’s economic transformation. This ambitious project, which includes development of hotel hotel rooms, is backed by an international developer and is slated for completion within six months, marking another milestone in PNG’s progress.
Prime Minister Marape stressed that the casino is strictly only for overseas guests, tourists and high earning Papua New Guineans and is not open to all citizens.
Paga Hill Development Company (PHDC) Chairman, Mr. Peter Barge, underscored the project’s focus on attracting tourists and expatriates, assuring that stringent entry requirements will align the casino with similar establishments in Singapore.
“In modern PNG, you need facilities, you need entertainment, all manner of amenities for both citizens and visitors to enjoy living in our country,” Prime Minister Marape said.
“There can be no better place to start the next wave of our growth than in Port Moresby, which has been the hub of government and commerce over the last 100 years when we were first visited by government, missionaries, and traders.”
Reflecting on the city’s legacy, Marape highlighted Port Moresby’s deep historical connection with the Motu-Koita people, particularly the Hanuabada villagers, acknowledging the area as the birthplace of modern-day PNG.
He continued by sharing his aspirations for Papua New Guinea’s future, recounting his recent speech at the United Nations General Assembly in New York City, where he declared the nation’s commitment to becoming a producer of finished goods instead of simply exporting raw materials.
The Prime Minister proudly reported on the nation’s economic growth, noting an increase from K79 billion in 2019 to a projected K122 billion by the end of this year, with forecasts of K130 billion by next year and K150 billion by 2027. “I assure those who choose to invest in PNG that you are coming into a growing economy, not one that is stagnant,” he said, emphasising the quicker return on investment achievable in PNG compared to larger economies.
Prime Minister Marape further emphasised the government’s commitment to tackling law-and-order challenges, improving education, and enhancing healthcare as part of a comprehensive strategy for a modernised PNG. He expressed his optimism about attracting tourists from major regions, such as China, Australia, and Southeast Asia, who are projected to enjoy the offerings at the Paga Hill Precinct. Additionally, he urged investors to prioritise local employment, particularly for the Motu-Koita people.
“Our vision for Port Moresby includes transforming the area from Koki to Konebada into a modern center for business and commerce, and establishing the Waigani Precinct as the governmental heart of the city,” Prime Minister Marape said.
“These two hubs will become symbols of PNG’s ambition to rise and progress on the global stage, developed at the very earliest.”
Looking forward, Prime Minister Marape acknowledged the success of Vision City Mega Mall as a prime example of what Port Moresby can achieve, serving as an inspirational model for future developments.
“I offer my congratulations and commendations and look forward to every step forward. May PNG prosper in this development,” he said, concluding with a vision of unity and optimism for the nation’s future.
A joint understanding has been reached between the Governments of Bougainville and Papua New Guinea to broaden the role of the recently appointed independent moderator, Sir Jerry Mateparae.
In a ministerial statement delivered in the Bougainville House of Representatives last week, ABG Attorney General and Minister for Bougainville Independence Mission, Hon. Ezekiel Masatt, provided this update highlighting the importance of the moderator’s role in advancing key elements of the post-referendum process.
Minister Masatt outlined that the engagement of the moderator was necessitated following ongoing disagreements between the two governments on outstanding issues relating to the sessional order and related matters to bring the results of the 2019 Bougainville Referendum to the National Parliament.
“There were a number of consultations held between the President and the Prime Minister and Minister Makiba and myself whence we worked together through potential candidates for the moderator. In the end both Minister Makiba and myself finally settled on Sir Jerry Mateparae to be the moderator,” Masatt explained.
This joint recommendation was then provided to the Prime Minister and President after which, both leaders released a joint statement announcing the appointment of Sir Jerry Mateparae.
According to Minister Masatt, the original scope of the moderator's role was expanded through joint discussions between the two government leaders. These discussions recognized the need for a “working moderator” who could offer not only oversight but active facilitation in preparing the next stages of the referendum ratification process.
Sir Jerry Mataparae, a distinguished former Governor-General of New Zealand, was selected following a comprehensive review of candidates provided by both governments and the United Nations. His role is now set to include broader responsibilities, aimed at bridging gaps between the ABG and the National Government as they navigate the final steps of Bougainville's political aspirations.
A formal JSB meeting is expected to help to formalize the expanded terms of reference of the moderator and his responsibilities in the ongoing political dialogue for Bougainville’s independence.
Steamships was proud to break ground on Portside Business Park, its new large scale mixed-use development which is managed by its property division, Pacific Palms Property. The ceremony was attended by the Deputy Prime Minister and Minster for Lands Hon. John Rosso MP and Hon. Dadi Toka Jnr, NCD Deputy Governor and Chairman of the Motu Koita Assembly along with key managers from Steamships and Pacific Palms Properties.
Spanning a site area of approximately 38 hectares, Portside Business Park is strategically located adjacent to the Motukea International Terminal and on the energy corridor to the LNG Plant. This mixed-use business park development offers an end-to-end logistics solution with warehouses, hardstand yards, offices, retail outlets and a residential compound. In due course, additional facilities will be added, including a hotel.
Mr. Chris Daniells, Steamships Managing Director, added that “Portside Business Park represents Steamships ongoing commitment to developing Papua New Guinea, and when fully developed, Portside will represent an investment of circa. PGK1bn and help create over 1,000 new jobs. Today’s groundbreaking supports the National Government MTPD4 agenda to drive growth and to broaden the economy in the non-extractive sector and Portside provides the perfect location next to the port for any company looking to enter downstream processing or manufacturing. Steamships has a number of other projects in the pipeline, and I look forward to groundbreaking ceremonies on those soon. At Steamships, we take a long-term view, PNG is our home.
General Manager of Corporate Affairs Mr. Vele Rupa comments “Steamships is delighted to be bringing another Grade A development to Port Moresby. It has taken considerable time to navigate the bureaucracy to get this project off the ground, but customers can be confident that they are coming to a development with bona fide title that will be developed to best in class international standards,” he further added, “Economic growth can only work when the National Government allows private sector to make investment decisions by having a right policy and investment landscape.”
Pacific Palms Property will develop Portside in phases, with today’s groundbreaking kicking off the major infrastructure works. The residential compound is already complete, as are the perimeter works.
In his keynote speech, Depuy Prime Minister and Minister for Lands, Hon. John Rosso commended the Company’s investment “The Marape-Rosso Government welcomes and commends Steamships Trading Company for their continued confidence in our nation through their latest significant investment in the new Portside Business Park. This development will not only enhance the commercial landscape of Port Moresby but also create much-needed jobs, stimulate local industries, and drive economic growth. Strategic investments like these are essential as we strive to build a more resilient and diversified economy. We look forward to seeing the positive impact this partnership will bring to our people and the future of Papua New Guinea.”
Papua New Guinea’s new Mining Minister, Hon. Wake Goi, was sworn in on September 25 at Government House in Port Moresby. Hon. Goi took over the role from Prime Minister James Marape, who had been filling in as mining chief.
Marape expressed confidence in Goi's experience and qualifications as the Member of Parliament for the Jimi electorate in Jiwaka Province and a member of the People’s Party of PNG.
Following his appointment, Goi visited the Mining Haus in Port Moresby, where he was officially welcomed by the Managing Director of the Mineral Resources Authority (MRA), Jerry Garry, along with his management team, staff, and party executives.
Mr. Garry highlighted the integrity, maturity, and experience that Goi brings to the Ministry. He assured the Minister the MRA team has the expertise needed to support him in advancing the mining sector “to give you advice and appropriately position you and I, so that we can drive the industry forward.”
"The mining industry is the largest contributor to the national purse, but it is also one of the most challenging due to its complexities," Garry noted, giving the Minister an overview of the MRA and the mining sector, including exports revenue statistics and the challenges faced by the sector.
In addressing the MRA staff, Goi encouraged strong cooperation between his office and theirs.
“It is the government’s wish to see that the country gets a fair share from the exploitation of its resources, and at the same time ensure that investors get returns on investments,” he said.
Goi said he would provide the necessary political support and leadership to the MRA and the sector to ensure that all stakeholders are adequately serviced.
He encouraged strong cooperation between his office and the MRA to ensure the government's agenda of “Take Back PNG” is realized, in which the country receives a fair share from its resources while also allowing investors to see returns on their investments.
After the formalities, the Minister was given a tour of the country’s Mineral Production Data Monitoring Hub and Data Repository.
The central goal of the Papua New Guinea (PNG) National Energy Authority (NEA) Corporate Plan 2023-2024 is to promote access to affordable, reliable, and sustainable energy services, which are crucial for economic growth and community prosperity.
A key focus is extending electricity access to 70 percent of PNG’s population by 2030 and achieving universal access by 2050. Currently, only about 15% of the nation’s population has access to electricity.
The NEA’s Corporate Plan for 2023-2027 outlines several key initiatives aimed at strengthening the country’s energy infrastructure and promoting sustainable energy development. Two notable initiatives are:
PNG Solar Supply (SPIA Enterprises Ltd) is committed to supporting this vision by providing sustainable energy solutions -- practically implemented recently with the South Pacific International Academy.
The Academy, located along the Papa-Lealea Highway, has faced power challenges over the past year, experiencing daily blackouts that severely disrupted educational activities.
From September 2023 to February 2024, the school endured eight-hour blackouts daily from 8 AM to 4 PM. Although the situation improved somewhat after February, the issues resurfaced during Independence Day celebrations this year.
On September 16, a damaged power line along the highway caused further instability in the voltage, leading to a potential three-week blackout for both the school and staff housing. However, the academy had already anticipated these problems.
In a timely move, PNG Solar Supply commissioned an 80kW hybrid rooftop solar power system over the same weekend as Independence Day.
The solar materials are provided, designed, procured and commissioned entirely by the company, underscoring a commitment to 100% Papua New Guinea ownership and operation. Installation was completed by Construction Electrical Services Ltd.
"We used the best materials in the world, and it is reflecting in the system's performance," said Melvin Samuel, Sales and Marketing Coordinator, PNG Solar Supply.
Despite the unreliable grid power over the last three weeks, the new rooftop solar system has operated flawlessly. With a robust battery backup of 122kWh and 80kW of solar panels, the classrooms have remained operational during the day, while staff houses enjoy reliable power throughout the night.
Switching on the hybrid solar system has completely replaced a standby diesel generator for the Academy.
"This solar solution is changing the game for us. We are no longer at the mercy of an unreliable grid," Samuel added.
The Papua New Guinea Tourism Promotion Authority (PNGTPA) has officially partnered with the Jimi District Development Authority (JDDA) in Jiwaka Province to enhance local tourism and promote local culture on a global stage.
This was formalised through a Memorandum of Understanding (MOU) signed on October 11 at the Ela Beach Hotel in Port Moresby.
PNGTPA Chief Executive Officer Eric Mossman Uvovo described the MOU signing as "small but very significant."
“What we can do is drive tourism at the district level, with the potential for cultural tourism, bird watching, festivals, and guided tours in the area, which is a global based tourism attraction,” he said.
Uvovo acknowledged some challenges, including financing and law and order issues. He urged for a proactive approach, saying: “Let’s not wait for law and let’s take the tourism agenda head-on.”
Hon. Wake Goi, the new Minister for Mining and Member for Jimi Open electorate, also stressed fostering partnerships for tourism promotion. He expressed a desire to explore how the mining sector could support local tourism, stating: “Let’s drive this tourism agenda.”
Mr Gabby Aipanga, Chairman of the Jimi Marita Festival, outlined ongoing tourism promotion efforts, particularly around the Annual Jimi Marita Festival, which showcases the cultural, health, and economic significance of the Marita crop.
The festival has been registered with the National Cultural Commission and has been in collaboration with the PNGTPA since 2022.
The Jimi District, one of three districts in Jiwaka Province, is characterized by its mountainous terrain and lush rainforests. According to the 2011 census, the district has a population of approximately 70,000 to 80,000 residents.
The festivals as discussed can also generate income through local tourists within the area, resulting in a boost of economic activity, Mr Aipanga said.
The festival and other tourism initiatives aim to develop Jimi as a tourist destination through projects such as the Memints Track Development, a historical 32-kilometer track from Banz Township, ideal for bird watching and sightseeing; and the Mini Museum, a collection showcasing local handicrafts, art, and traditional tools.
This partnership positions Jimi District as a vibrant cultural and tourism hub in PNG, with the potential to attract both domestic and international visitors.
Attendees included Kennewton Kennedy TPA Executive Manager for Partnership and Product Development; Mathew Pyakali, CEO of JDDA; PNGTPA management representatives and JDDA officers.
iPi Group’s purified 600ml water also known as “Tenkyu.wara,” is now available for purchase at Tango Supermarket, Tokarara, Port Moresby.
Tenkyu.wara and the Tenkyu. initiative aims to promote not only healthy drinking water but also to engage clients and other business entities in a meaningful corporate social effort that empowers Papua New Guineans.
Each purchase of Tenkyu.wara directly contributes to the growth and empowerment of communities within iPi’s operational sphere, reinforcing its commitment to giving back to the communities in which they work.
iPi Group has also extended its support to other organizations by purchasing and donating Tenkyu wara as an alternate to cash donations.
Tenkyu.wara can be sold to raise funds needed by those organizations or used for events such as water stations at fun runs.
Early this year, iPi Group launched a partnership with Business for Health (B4H) to help combat TB and HIV, alleviating their burden on employees, families and communities in PNG. The profits from the sales of Tenkyu.wara goes towards supporting B4H’s efforts.
The mission of our Tenkyu. initiative is to offer a win-win-win solution that offers quality drinking water, improved health and hygiene facilities, and support for our communities.
By choosing Tenkyu.wara, you are not only quenching your thirst but also contributing to a brighter future for PNG. Remember, a little “Tenkyu” can go a long way to changing lives!
The Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) has called for ongoing dialogue and greater collaboration among all stakeholders in the alluvial mining industry. PNGEITI emphasised that cooperation is essential to address key challenges within the sector, including non-compliance, under-reporting of mineral production, and environmental concerns. This follows the recent 6th PNG Alluvial Mining Convention and Trade Show, held in Goroka, Eastern Highlands, from 24 to 26 September.
PNGEITI’s involvement in the three-day event was driven by several strategic objectives:
The convention sparked important discussions on a wide range of topics, including challenges in alluvial mining legislation, mechanised mining operations, and the market value chain for alluvial gold in Papua New Guinea. The biennial event brought together key stakeholders from the alluvial mining sector to exchange insights, tackle pressing issues, and strengthen collaboration to ensure the sustainability of this crucial industry.
The 2024 convention’s theme, “Protecting & Sustaining the Alluvial Mining Sector of Papua New Guinea,” called for a unified commitment to bolster the development and longevity of the sector, which remains a vital source of income for many local communities. PNGEITI highlighted concerns around discrepancies in production data, monitoring and regulation of gold exports, and the need for stronger government support to safeguard the interests of local miners.
During the event, Stanley Nekitel, Register of Tenements at the Mineral Resource Authority, described the alluvial mining industry as a “grassroots economic sector,” while expressing concern over declining production levels despite rising global gold prices. Oro Governor, Garry Juffa, also pointed out a contradiction between the increase in alluvial mining activity and the reported decline in gold production data, calling for immediate government action to improve monitoring, reporting, and policies that protect the interests of Papua New Guineans involved in the sector.
Industry representatives, including Justine Parker of Tribal Mining Limited and Raymond Wally, a leaseholder and tributer, raised concerns about the growing influence of foreign investments, money laundering risks, and the need to build financial capacity for local landowners. Their input underscored the importance of equitable benefit-sharing across all stakeholders within the sector.
A key highlight of the event was the launch of the Resource Evaluation Code of Practice (RECP), developed in collaboration with the PNG University of Technology. This code is designed to standardise responsible and sustainable mining practices across the alluvial mining industry, addressing long-standing issues related to environmental sustainability and operational transparency.
The Head of the Japan International Cooperation Agency (JICA) in Papua New Guinea (PNG), Matsuoka Hideaki, has urged the PNG government and its implementing agencies to maintain strong leadership, foster continued cooperation, and ensure that arrangements with donor agencies like JICA are upheld. This is essential to maximise the benefits derived from the various projects currently underway. Mr Hideaki made these remarks during the inaugural Joint Coordinating Committee (JCC) meeting for Phase 2 of the Improving Resource-Related Revenue Management Project, held in Port Moresby on 30 September 2024.
As JICA celebrates 50 years of development assistance to PNG, Mr Hideaki emphasised the importance of sustaining and strengthening the project’s implementation structure to ensure long-term impact. “To maximise and sustain the outcomes and impact of the project, it is vital to continue improving and reinforcing the implementation framework,” he noted, highlighting the project's significance in resource revenue management.
The JCC meeting, chaired by John Uware, Deputy Secretary of Economic Policy at the Department of Treasury, brought together key stakeholders, including consultants, to discuss the project’s progress at the Auditor General’s Office and the Department of Petroleum, while also outlining recommendations for future initiatives. Attendees included representatives from the Department of Treasury, the Auditor General’s Office, the Department of Petroleum, the Department of National Planning and Monitoring, the Internal Revenue Commission, and PNG Customs.
The Project for Improving Resource-Related Revenue Management was launched in 2018 following a request from the PNG government, through the Department of Treasury, to address recommendations from the first PNG Extractive Industries Transparency Initiative (PNGEITI) report. The report identified areas for improvement, such as the need to enhance the license registry at the Department of Petroleum and build the capacity of government agencies in data collection and reporting in line with EITI priorities.
Phase 1 of the JICA project, which concluded in 2022, successfully achieved its objectives and outputs. Phase 2 builds on this foundation, with a focus on two key areas:
Capacity Strengthening at the Auditor General’s Office (AGO): Supporting the establishment of an assurance mechanism to test resource-related government revenues, enhancing the reliability of financial data for EITI reporting and ensuring compliance with EITI best practice standards.
Data Management at the Department of Petroleum (DPE): Continuing to improve the management of license information, as well as production, export, and revenue data, to establish a timely and systematic disclosure mechanism at the DPE that meets EITI requirements.
This collaborative project aims to bolster the transparency and effectiveness of resource-related revenue management in PNG, laying the groundwork for improved governance and long-term economic development.
The Aropa Airport upgrade project is set to move forward following the recent contract signing between the National Airports Corporation (NAC) and China Railway Construction Group Ltd (CRCG Ltd).
The signing was witnessed by Autonomous Bougainville Government (ABG) President, His Excellency Ishmael Toroama, and the National Minister for Civil Aviation, Hon. Walter David Schnaubelt. This event marks a significant milestone in the airport’s development since it was re-opened a decade ago.
Valued at K58,201,511.08, the contract forms part of NAC's Civil Aviation Development Investment Project II (CADIP II). The project is slated to commence in the first quarter of 2025 and will take approximately 28 months to complete.
The scope of works for the Aropa Airport upgrade includes:
The Aropa Airport upgrade is a key infrastructure project that aims to enhance Bougainville’s regional connectivity and support the region’s economic growth.
The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) have agreed on a timebound action plan to accelerate the implementation and enhance the performance of ADB-financed projects, following discussions at the 2024 Country Portfolio Review Mission Roundtable Meeting.
The hybrid meeting, co-chaired by ADB Country Director for PNG, Said Zaidansyah, and Department of National Planning and Monitoring Acting First Assistant Secretary, Reichert Thanda, was attended by various government officials, including Department of Works and Highways Acting Secretary, Gibson Holemba, and Department of Treasury Deputy Secretary, John Uware, as well as project directors and ADB staff. Participants reviewed the overall performance of the project portfolio and discussed delegation of responsibilities with executing and implementing agencies.
“As the largest multilateral development partner of PNG, ADB will continue to support diversified, sustained, and inclusive growth in the country,” said Mr Zaidansyah. “The development impact and effectiveness of ADB’s support rely on the quality of portfolio performance, and we will keep collaborating with the government to enhance this performance and build the capacity of the relevant government agencies.”
ADB’s active portfolio in PNG comprises 15 loans and six grants across 10 projects, totalling $1.38 billion. The largest sectors supported by ADB are transport (roads and civil aviation), which account for 60% of the active portfolio, and energy (20%), addressing the country’s substantial infrastructure needs. Human and social development, climate resilience, and gender equity are also key areas of ADB’s engagement in PNG. Additionally, ADB is involved in public sector management, including reforming state-owned enterprises.
The action plan, designed to boost portfolio performance, focuses on contract and project management, procurement, financial management, social and environmental safeguards, and promoting gender equality. ADB and the government will closely track progress on the agreed actions.
Ok Tedi Mining Limited (OTML) is celebrating its 40th anniversary of operation, marking four decades of resilience and excellence in the mining industry in Papua New Guinea.
Starting in August 1984 as a gold mining operation by Broken Hill Property Limited (BHP), OTML transitioned to a copper-gold mine in 1987. From 2015 to present, OTML is a fully 100 per cent PNG owned mine.
OTML’s journey is characterized by both challenges and triumphs.
Throughout its history, OTML has demonstrated resilience in the face of adversity. These include:
• Navigating two significant droughts in 1997 and 2015; • The volatility of the world market and global gold and copper prices; • Legacy issues of its operations impact on the Ok Tedi and Fly River systems and the communities that depend on them;
Despite these challenges OTML continues to remain resilient and has operated successfully by providing economic and social benefits to Western Province and Papua New Guinea over the last 40 years. They include:
• K13.4 billion in Dividends; • K1.4 billion in Royalties; • K10.2 billion in Tax/Duties; • K1.6 billion in Compensation; • K1 billion in CMCA Payments; • K664 million in Tax Credit Scheme Projects; • Investing K146 million in education and training of graduates, apprentices, trade trainees, and school and university scholarships. • World class operational and environmental mitigation and monitoring measures.
OTML remains optimistic in continuing its operations for another 40 years. This is evident in the renewal of it’s Special Mine Lease (SML) to 2042 and the Company Boards in-principle agreement to extend mine life to 2050.
A series of events will be held in November to mark the 40th anniversary celebrations. These festivities will not only commemorate the past but also look forward to the future with optimism.
The Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia addressed recent significant legislative changes to the Central Banking Act during the recent September 2024 Monetary Policy Statement presentation at the Royal Papua Yacht Club.
The amendments, passed by Parliament in September, pave the way for the establishment of a new Monetary Policy Committee (MPC) aimed at enhancing the independence and transparency of monetary policy in PNG.
“This is the last Monetary Policy Statement from the Bank of Papua New Guinea under the current governance structure,” Governor Genia stated.
“The recently passed amendments include a provision for the establishment of a new Monetary Policy Committee, comprising myself as Governor, our Deputy Governor, and three appointees who are not members of the Bank of Papua New Guinea Board.”
The new committee’s formation marks a critical step in strengthening the independence of monetary policy decision-making, Genia said.
With only the Governor and Deputy Governor sitting on both the MPC and the Bank’s Board, the committee’s membership will be determined by the Head of State, based on advice from the National Executive Committee and the Treasurer.
The appointment of the three additional committee members is expected to progress smoothly, with the aim of having the new MPC operational as soon as practicable.
“This change will facilitate more robust discussions and decision-making processes in our monetary policy framework,” she noted.
An essential aspect of the legislative amendments mandates the MPC to publish a statement following each meeting, detailing individual votes and the rationale behind decisions.
“This will add transparency to the process of setting monetary policy and provide greater insight into the considerations behind our decisions,” Governor Genia explained.
Moreover, the recent changes clarify the objectives of the BPNG, placing price stability as the primary and overarching goal.
“Our secondary objectives are to ensure financial stability; promote sustainable medium term economic growth, especially in the non-mineral and non-petroleum sector; and to promote the development of Papua New Guinea’s financial system,” Governor Genia said.
Follow on LinkedIn:
PNG Business News
Be the "First" to get our exclusive Digital Magazine & Weekly Newsletter.
