The newly formed Papua New Guinea Parliamentary Election Committee has received the backing of the New Zealand Government in order to handle election-related concerns that arose during this election. This was said by Nanaia Mahuta, the minister of foreign affairs for New Zealand, at a news conference that both nations held in Port Moresby. In order ...

Prime Minister Hon. James Marape recently (September 13, 2022) announced 12 Vice-Ministerial allocations, in line with his Government’s focus on ‘Growing the Economy’ and ‘Strengthening Internal Security’. He made the announcements before he left for London to attend the funeral service of Queen Elizabeth II. Of the 12 Vice-Ministers, four will be d...

The economy in Papua New Guinea is forecast to expand by four percent in 2022, up from one percent in the previous year, according to the latest World Bank Economic Update, released recently. This return to growth following a sharp contraction of -3.5 percent in 2020 was mostly driven by strong performance in the non-extractive sector, with agriculture be...

PNGX, Papua New Guinea’s national stock exchange, has received the Securities Commission’s approval of the new PNGX Debt Market Rules. The new PNGX Debt Market Rules allow a company to issue corporate bonds and have those bonds listed on PNGX where they can be traded. Corporate bonds are a type of debt security issued by a company. The company may b...

Photo credit: IRC Prime Minister Hon. James Marape today announced a record K9.7 billion tax revenue collection by the Internal Revenue Commission (IRC). He made the announcement as he prepares to travel to London for the funeral service of Queen Elizabeth II and as Papua New Guinea prepares to celebrate its 47th Independence anniversary on Friday, ...

This week in Kokopo the Businesses for Health (B4H) TB project partnered with leading businesses to address PNG’s ongoing Tuberculosis crisis. Even though drugs that eradicate TB have been around since 1944, worldwide 1.5 million people still died of the illness in 2020. TB has been in PNG a long time. In the 1930s it was the largest cause of death at ...

EU-STREIT PNG started work on two additional farm-to-market access roads in Sandaun and East Sepik provinces totalling 56 plus km, to serve over 16,000 villagers, including businesspersons, women and school children, with improved access to towns, health posts and schools.   The International Labour Organization (ILO) under the EU Funded UN Joint STREI...

The Grand Papua Hotel in Port Moresby is a proud winner of The World Travel Award 2022. The World Travel Award recognizes and celebrates the hotel industry worldwide, with votes cast by travellers, guests, and industry players. It is the first year the Grand Papua Hotel has entered The World Travel Award and we are proud to have been awarded the follow...

The president & chairman of Papua New Guinea's Fishing Industry Association (FIA), Sylvester Barth Pokajam is calling on the new Government to reform its National Fisheries Authority policy document. This policy document provides the legal framework and guides the regulatory regime of the fisheries sector. The policy should focus more on key areas ...

Photo: PM Marape speaking during the launching of the K130 million Paga Hill Paradise project in Port Moresby Prime Minister Hon. James Marape has welcomed foreign investors into Papua New Guinea, as he launched the K130 million Paga Hill Paradise project in Port Moresby recently (September 8 2022). He said the 22-storey luxury apartments project, b...

Photo credit: The Statesmen According to India's High Commissioner Inbasekar Sundaramamurthi, Papua New Guinea exports to India five times more than India does to PNG. “This means the balance of trade is in (PNG’s) favour,” he said. According to Sundaramamurthi, India and PNG had bilateral trade of about $427 million (K1,471.13 million). Aroun...

According to International Trade and Investment Minister Richard Maru, the construction cost of the Pacific Marine Industrial Zone (PMIZ) project in Madang may be close to K1 billion. Maru stated that although the government had set out roughly K70 million for the project, it might not be sufficient. “We are going to make sure that PMIZ is going to ...

When Parliament convenes in October, it is anticipated that the National Trade Bill, which was approved by the National Executive Council in 2021, will be presented. The National Trade Office Bill aims to address the need for anchoring the government's trade policy role, removing redundancy and resource waste, and giving the newly established National ...

Photo credit: Newcrest With the help of royalties, taxes, a production levy, and vendor agreements, PNG has received K1.5 billion from Newcrest's Lihir Gold Mine in the province of New Ireland. Speaking during the recent induction of the Members of the 11th Parliament in Port Moresby, Newcrest PNG country manager Stanley Komunt stated that the busin...

Prime Minister Hon James Marape recently addressed the importance of the partnership that the government and businesses can foster to discuss policy, financial barriers, technology and innovation so that growth in business can be accelerated.  He highlighted this during the Business Council of PNG's Back to Business Breakfast which was held on the 30th...

Oil Palm growers, investors and stakeholders need to take notice and work closely with the government to revamp the once thriving industry. The newly appointed minister for Oil Palm Hon. Francis Maneke realizes and sees the creation of the Oil Palm industry as a way forward and a huge advance in the industry that has been subjected to indifference for ...

Photo: PM Marape and Health Minister Hon. Dr Lino Tom with members of the medical fraternity at the Medical Symposium recently Prime Minister Hon. James Marape recently (September 5 2022) announced a K42.7 billion health intervention programme for the next 10-15 years in Papua New Guinea. He made the announcement today (September 5 2022) when addres...

Photo: James Marape Prime Minister Hon. James Marape says fisheries must be put on the pedestal in Papua New Guinean as a major business for the country. He said this today (Tuesday September 6 2022) when addressing the Provincial Fisheries Conference in Port Moresby organised by the National Fisheries Authority (NFA). PM Marape challenged the NF...

Photo: PNGX Chairman Mr David Lawrence receives the Securities Commission of Papua New Guinea approval from Acting Chairman Mr Robert Salmon-Minak and Mr James Joshua PNGX, Papua New Guinea’s national stock exchange, has received formal reconfirmation of approval by the Securities Commission of Papua New Guinea to operate a stock exchange. The approval...

Weir Minerals rubber technology has long been a hallmark of its offering to the mining and minerals processing industry. The Warman® MCR® slurry pump is a case in point; often utilised in applications where competitors use metal-lined pumps, Weir Minerals continues to push the boundaries of what rubber is capable of in mill circuit applications. Weir M...

EU-STREIT PNG collaborates with registered enterprises (nurseries) to sustainably supply quality cocoa seedlings in the Sepik region of Papua New Guinea. The Food and Agriculture Organization of the United Nations (FAO), under EU-STREIT PNG Programme, in its mission to increase the production of high-quality cocoa that will improve the agribusiness of ...

EVERYONE’S A WINNER: Mr Gerea Aopi, CBE – PNG Cancer Foundation Chairman and Mr Leon Buskens, Santos Country Chair, PNG along with Team Southern Cross Assurance Limited, winners of the Santos 2022 Corporate Golf Challenge. The Santos 2022 Daffodil Corporate Golf Challenge with the tremendous support of the business community has raised more than K160,0...

The Australian government has signed a new five-year deal with foreign fisheries agencies to address illegal fishing in the Pacific region including Papua New Guinea waters. This was revealed by Australian Foreign Affairs Minister Penny Wong in response to questions on illegal fishing. Wong, who was on a three-day visit, said that access to sovereignty...

Photo: Philip Samar  According to the PNG Chamber of Mines and Petroleum, the government must make greater efforts to safeguard the economy by encouraging exploration to find new projects in the resources sector. Chamber Vice-President Philip Samar said that the resource sector has made direct contributions to the government totaling K2.9 billion to...