The inaugural Joint Trade and Investment Committee Meeting between the Philippines and Papua New Guinea will take place in Manila in January 2023. The purpose of the conference is to talk about measures to increase and diversify commercial and investment ties between the two nations. On the sidelines of the APEC meetings in Bangkok, Thailand, Alfred...

Due to its strategic position, Singapore is eager to host the Papua New Guinea Trade and Investment Roadshow the next year, where PNG can promote all the potential it can provide to Singapore and the Asia area. At a meeting on the sidelines of the APEC Summit in Bangkok, Thailand, the Minister for International Trade and Investment, Richard Maru, made ...

A Memorandum of Cooperation on a Joint Crediting Mechanism (JCM) was signed by Papua New Guinea (PNG) and Japan on the sidelines of the 27th Climate Conference of the United Nations (COP 27) in Egypt. The Government of Japan created the Joint Crediting Mechanism, a new project-based bilateral offset crediting system, to make it easier to adopt cutting-...

A proposal to establish an honorary consul in Vietnam’s capital city of Hanoi has been discussed in a bilateral meeting between Papua New Guinea and Vietnam’s Foreign Ministers. Foreign Affairs Minister Justin Tkatchenko met with his Vietnamese counterpart Bui Thanh Son during the APEC Summit in Bangkok, Thailand. Vietnam is a fast growing economy w...

Discussions are underway to establish a sister-city initiative between Papua New Guinea's Capital Port Moresby and Da Nang city in Vietnam. This was agreed to in a bilateral meeting between Foreign Affairs Minister Justin Tkatchenko and Vietnam’s Foreign Minister Bui Thanh Son during the APEC Summit in Bangkok, Thailand. PNG Minister Tkatchenko, who...

Following the government's Budget 2023 proposal to hike corporation tax from 30% to 45%, Kina Bank is abandoning all of its plans to grow by opening additional offices nationally. Greg Pawson, the chief executive of Kina, stated that the bank was against any rise in corporate tax on the banking industry. “To put into perspective, it is an additional...

Photo: Richard Maru. Credit: Richard Maru Facebook Page Richard Maru, the minister of foreign trade and investment, says he is eager to promote trade and investment with Indonesia. “Our people go to the border to trade with Indonesia. There is big trade happening there, but our two governments have not made the time to enter into a formal trade and ...

Prime Minister Hon. James Marape says the Commission of Inquiry (COI) into the K722 million Sale and Purchase of Motukea Wharf in Port Moresby is part of the Government’s efforts to ensure that processes and procedures that are in place are observed in such major transactions. He also announced that the Government had taken steps to enforce recommendat...

PNG Customs services and Bank of Papua New Guinea today launched a Joint initiative cross border movement currency valuables form (CMCV) in Port Moresby, it is a mandatory document for all international travelers that will be implemented starting on the 1st of December, PNG Customs ramped up its services and have developed a standard operating procedur...

Photo: Deputy Prime Minister John Rosso  Deputy Prime Minister John Rosso has said that the 2023 National Budget will focus on law and order to ensure confidence in economic development activities. Mr Rosso who is also the Lands and Physical Planning Minister further hinted during grievances debate in Parliament. He said the budget will also focu...

Additional company tax on the banking sector will increase from 30 to 45 percent treasurer Ian Ling-Stuckey said when presenting the 2023 budget in parliament recently. This is expected to raise K240 million in 2023 to fund core vital services. The additional company tax was initially imposed on companies declaring huge profits such as BSP and Digicel ...

The Forestry Act 1991 (amended) is under legislative review after 30 years to accommodate the government agendas for the forestry sector, taking into account new and emerging issues in-country as well as globally. Papua New Guinea Forest Authority (PNGFA) in collaboration with the Constitutional & Law Reform Commission (CLRC) held a lockdown worksh...

Photo: Musje Werror The Board of Ok Tedi Mining Ltd announced that it has accepted the resignation of Managing Director and CEO, Musje Werror. OTML Board Chairman, Dr. Roger Higgins, made the announcement today. Dr. Higgins thanked Mr Werror for his contribution to Ok Tedi over many years, starting as a graduate trainee, working across all aspect...

Photo: Treasurer Ling-Stuckey delivers the 2023 Budget in Parliament today. Picture courtesy of PARLIAMENT MEDIA Prime Minister Hon. James Marape says the K590 million in cost-of-living relief, provided for in the biggest-ever K24.567 billion 2023 Budget handed down recently (November 29, 2022) by Treasurer Hon. Ian Ling-Stuckey, shows that it is a “Pe...

The Port Moresby Chamber of Commerce and Industry (POM CCI) held its 67th Annual General Meeting at the Lamana Hotel on the 24th of November 2022 , present to witness the occasion were its members, executives and various stakeholders.  The meeting was officially opened by the President and Master of Ceremony Mr. Rio Fiocco who gave his opening remarks ...

Prime Minister Marape headlines a star line-up of speakers at the 16th PNG Mining and Petroleum Conference, in Sydney in December, to promote international investment in PNG.   Already over 1000 attendees are registered to attend, as the Conference features a dynamic and engaging program centered around Prime Minister Marape’s announcement of 4 new mega p...

Photo: PM Marape and Governor Bird in discussions with representatives of Pacific Elite Palm Oil Group in Singapore on Monday (November 21, 2022). Prime Minister Hon. James Marape has given his support to development of the oil palm industry in Papua New Guinea on a massive scale. PM Marape gave his support after he and East Sepik Governor, Hon. All...

Photo: PM Marape and Chinese President Xi Jinping before their bilateral meeting in Bangkok, Thailand, on the sidelines of APEC 2022. Prime Minister Hon. James Marape says Chinese President Xi Jinping has given him an undertaking to buy more or all that Papua New Guinea produces. The undertaking was made during a bilateral meeting between President ...

The Papua New Guinea Trade Union Congress (PNGTUC) and its affiliated unions have supported the points that were raised by the Minister for international Trade and Investment, Hon Richard Maru on the urgency to investigate companies and businesses that have been operating on loss every financial year. PNGTUC Secretary, Mr Clemence Kanau said no sane pe...

The office of censorship has finally launched its Corporate Censorship Plan 2022 to 2026 in Port Moresby recently. In launching the plan, Community development Youth and Religion Minister, Hon Jason Peter said the document was important as it focuses on the organisations capacity and it will help them to implement ‘The National Censorship Policy II’ to...

The Minister for state enterprises, William duma has announced the approval that there will be a new commercial bank to be established in the country next year, He stated this when responding to the NCD Governor, Powes Parkop regarding banking related issues in the country in parliament recently. Minister Duma stated that the Marape-Rosso Government ha...

Photo: National Development Bank Head Office The National Development Bank (NDB) in partnership with the Sohe District has launched its Small to Medium Enterprise (SME) credit scheme program, last week in Oro, Northern Province. Member for Sohe and Minister for Commerce and industry, Henry Amuli, together with executives of The National Development ...

Photo: Kavieng Airport Minister for Treasury Ian Lin-Stuckey has stated that the upgrade of Airports in the Country is Vital for Papua New Guinea's Development. “I was honoured that Prime Minister James Marape opened the Kavieng Airport upgrade.  This was a historic day for Kavieng, making for safer and better linkages to the rest of PNG and the wor...

Since taking Office in 2019 and continuing his tenure as the Prime Minister after the recent elections, Hon James Marape has always been adamant about connecting the whole of Papua New Guinea through a road network that links the whole nation. Prime Minister Marape continues to be vocal about the Connect PNG Program of which his government has already ...