Photo credit: ABG Recently, the Autonomous Bougainville Government concluded a three-day Leaders Symposium at the Sharpe Memorial Youth Center in Arawa. Running under the theme of “Moving a resilient and responsible Bougainville towards Independence”, the Symposium provided the space for leaders to reflect on progress so far under the Bougainville S...

Photo credit: Geopacific Resources - Figure 2: Mining Lease exploration target areas Geopacific Resources Limited is pleased to provide further updates on its successful grade control and resource extension drilling at the Woodlark Gold Project. Chief Executive Officer, Tim Richards commented “The grade control and resource extension drilling campai...

Prime Minister James Marape claims that undeveloped resource projects will deliver roughly K200 billion into the country's GDP. As a result, he urged investors to keep investing in the nation. Marape said this in Brisbane at the 37th Australia-Papua New Guinea Business Forum and Trade Expo. “I want to assure you all that despite our diversity of ...

Prime Minister James Marape claims that the Australian government's intervention to assist PNG with budgetary support for essential infrastructure has aided the government's expansionary economic goals. Marape said this in Brisbane at the 37th Australia-Papua New Guinea Business Forum and Trade Expo. “In case you did not see it that is why Bank Sout...

The outlook for Papua New Guinea has been changed from negative to stable by Standard and Poor's Global Ratings. The stable outlook is based on S&P's belief that fiscal consolidation efforts and measures contained in an International Monetary Fund programme would continue to decrease fiscal deficits and stabilise the country's debt burden over the ...

According to National Research Institute (NRI) interim director Osborne Sanida, the government must embrace digital transformation to promote commerce. “the volume of trade has increased over the years with the reduction of tariffs,” he said. “We need to ensure that digital transformation is used to our advantage to facilitate trade. “But we must...

Photo credit: Rocky Roe - PM Marape addresses the forum Prime Minister James Marape claims that Papua New Guinea is a good location to invest. The Prime Minister recently spoke at the 37th Australia-Papua New Guinea Business Forum and Trade Expo in Brisbane. “To attract and lock in investments, we are opening up special economic zones that offer ...

The Ihu Special Economic Zone project in Gulf Province's Kikori District is presently in its second phase of development. The second phase of the Ihu SEZ has been funded with a total of K10 million, according to Peter Kengemar, the project director. He stated that for the first five years of phase two development, K20 million from the K100 million a...

After the general election, getting significant resource projects off the ground must be a top priority for the administration, according to an official. Rio Fiocco, head of the Port Moresby Chamber of Commerce and Industry, said these initiatives will bring in foreign cash and help to the country's overall economy. He said that the projects' spinof...

Photo credit: Department of PM&NEC Prime Minister Hon. James Marape has today congratulated the Member for Lae and Minister for Lands and Physical Planning, Hon. John Rosso, on his appointment as the new Deputy Prime Minister of Papua New Guinea. PM Marape said the appointment was made to honour and pay respects to the life and work of Deputy Pr...

The EU Funded UN Joint STREIT Programme in Papua New Guinea has made progress in delivering technical assistance to the beneficiaries since the beginning of 2020. To address existing the challenges induced by COVID-19 Pandemic, there is a need to further scale up cooperation and partnership among stakeholders to speed up the pace of implementation of the ...

Photo: Members of the OTML Joint Working Party of Union and Management leaders and the Managing Director & CEO, Musje Werror at the signing. Also present to co-sign and witness the event was Industrial Relations Acting Manager, Wala Iga, and Industrial Registrar, Helen Saleu. Ok Tedi Mining Limited (OTML) and the Ok Tedi Mining & Allied Workers...

According to Madang Chamber of Commerce and Industry President Kevin Murray, the Pacific Marine Industrial Zone (PMIZ) project in Madang would increase the province's fisheries industry. Despite the lack of certainty about the project, Murray claimed that residents in the Madang area support it because it will create employment. “A number of canneri...

The PNG Electrification Global Information System has been created by the United States Agency for International Development. Off-grid energy providers can use the Electrification Global Information System (GIS) platform to find prospective mini-grid locations and regions for selling stand-alone solar goods. Sean Callahan, USAID's Deputy Mission Dir...

On the strength of planned resource developments, the Australia New Zealand Bank (ANZ) anticipates good economic growth for the country. Businesses' investment is projected to turn back in the second half of the year, according to the bank's Pacific forecast. The next phase of gas projects will be the primary driver, with Papua LNG expected to enter...

Since the start of LNG production, more than K14 billion has delivered sent to the state from the PNG LNG project. ExxonMobil in 2021 delivered K2.2 billion to the State. K7.1 billion to Kumul Petroleum Holdings Limited and an estimated K4.5 billion in various taxes were paid to the Internal Revenue Commission since Production in 2014. “The revenues...