Credit Corporation (PNG) Limited has achieved a long-held dream of its founding directors by evolving into a fully-fledged bank, a milestone celebrated by Chairman Dr. Albert Mellam during the official licensing event by the Bank of Papua New Guinea (BPNG). The transition to CreditBank PNG marks a pivotal moment in the company’s history, reflecting its...

August 5th marked a historic moment for Papua New Guinea's financial sector as the Bank of Papua New Guinea (BPNG) issued commercial banking licenses to TISA Bank Limited and Credit Bank PNG Limited. This event, held at the BPNG headquarters in Port Moresby, is the first time two banking licenses have been granted on the same day, signaling a significa...

The 2024 Business Regulators Summit co-hosted by the Investment Promotion Authority (IPA) and Department of Information, Communication and Technology (DICT) on July 30 to 31 in Port Moresby drew representatives from businesses, regulators, investors, government agencies, non-government organisations, and the media across Papua New Guinea to Port Moresby f...

The Papua New Guinea Chamber of Resources and Energy (PNG Core) Manger for Policy and Analysis, Gretel Orake, addressed the urgent need for regulatory reform and enhanced capacity within PNG's regulatory bodies during the 2024 Business Regulators Summit held at Stanley's Hotel. Orake highlighted critical areas requiring attention to foster a more condu...

PNG Customs Service Chief Commissioner David Towe stressed Papua New Guinea’s commitment to trade facilitation and border protection during his presentation at the 2024 Business Regulators Summit, Session four on July 31. Addressing a diverse audience that included regulatory agency leaders, private sector representatives, NGOs, and media, Towe deliver...

In July, the Global Green Growth Institute (GGGI) launched the Papua New Guinea Climate FIRST project with a series of workshops, starting with the New Ireland Province. The Climate FIRST Inception and Stakeholder Consultation Workshop, held on July 22 in Kavieng, marked the beginning of the project's implementation across seven provinces: Eastern High...

From July 12 to 14, the Papua New Guinea Tourism Promotion Authority (TPA) highlighted the country's exceptional birding opportunities at the Global Bird Fair (GBF) in Rutland, Oakham, United Kingdom. This major event provided PNG a key platform to engage with international birding tour operators, travel agents, and conservation organizations, enhancin...

The European Union (EU) and Papua New Guinea (PNG) are deepening their commitment to environmental sustainability with the EU-funded Forestry, Climate Change, and Biodiversity (EU-FCCB) program. Launched in October 2023, this €55-million initiative aims to integrate forest management, climate action, and biodiversity protection into PNG's development s...

The Minister for Fisheries and Marine Resources, Hon. Jelta Wong, revealed that Mr. Noan David Pakop has been appointed as the first Papua New Guinean Director General of the Pacific Islands Forum Fisheries Agency (FFA). Mr. Pakop’s appointment, confirmed by the 23rd Forum Fisheries Committee Ministers in Honiara, Solomon Islands, marks a significant m...

The annual Trukai Fun Run 2024 is not just another community event, but a crucial initiative that underscores the business sector's vital role in supporting national pride and athletic excellence. The Fun Run took place on July 7 across ten locations in Papua New Guinea, with more than 1,000 participants in each location. The Fun Run united communit...

The Secretary of the Department of Lands and Physical Planning, Hon. Benjamin Samson, recently provided a comprehensive overview of the steps taken towards implementing the new Strata Title Laws. The Strata Title Laws will provide significant opportunities for investment and employment, broadening the tax income for state and municipal authorities. ...

The TWM Group recently celebrated the opening of the first world-class industrial waste management facility in the Pacific Islands. Located in Roku, Central Province, this hazardous waste landfill is a pioneering initiative in Oceania, outside of Australia and New Zealand. The facility marks the completion of stage one of Papua New Guinea’s comprehensi...

The countdown is on for The 2024 Regulators Summit from 30th to 31st July at Stanley Hotel in Port Moresby, Papua New Guinea, with the theme, “Interoperability: Connect and Co-create.” The Investment Promotion Authority of PNG and the Department of Information, Communication and Technology informed business houses, key stakeholders, regulatory agencies...

This year’s Hausples Real Estate Expo brought together top-tier professionals from the real estate industry under one roof, offering a comprehensive platform for both seasoned experts and newcomers to the market. Papua New Guinea’s leading real estate portal, Hausples, hosted the Expo on June 28 and 29. The free-entry event was a prime opportunity f...

The Papua New Guinea Customs Service and the National Trading Office (NTO) have signed a Memorandum of Understanding (MoU) on data sharing for policy development in the trade, tourism and investment sectors on July 5 at the NTO headquarters in Port Moresby. The event marks an improvement of trade information and data sharing between both government age...

The Credit Guarantee Corporation PNG Agri Trade Expo took place from June 24 to 27 in Port Moresby with a focus on enabling access to tailored financial products. The Trade Expo, hosted at the APEC Haus, attracted significant international attention with its diverse array of exhibitors. Participants included banks, financial institutions, agribusinesse...