Minister for International Trade and Investment, Hon. Richard Maru says it is time the Government recognize the need for Papua New Guinean indigenous businesses to be recognized and supported as a unit in the country. Minister Maru said this recently during his closing address at the 14th World Indigenous Business Forum which was jointly hosted in Port Mo...

Prime Minister Hon. James Marape has passionately called for China’s assistance in land reclamation, water desalination, and green energy initiatives to support small Pacific island states facing the challenges of climate change. Prime Minister Marape, representing the Pacific Islands Forum, has proposed to China that countries with significant carbon ...

A team of investors from one of China's biggest cities, Guangzhou, will be in the country at the behest of their government to explore downstream processing opportunities in PNG. Prime Minister Hon. James Marape was informed of this by Governor of Guangdong Province, H.E Wang Weizhong, when the two leaders met after PM Marape ended his attendance of th...

Trade between Papua New Guinea and China has surpassed K13 billion, with a surplus in our favour as PNG continues to export more to China than import from the Asian superpower. This clearly demonstrates the huge significance in maintaining and expanding the existing bi-lateral relationship with China as the superpower continues to provide the needed ma...

Over 500 delegates are expected to converge into Port Moresby next week to attend and participate in the World Indigenous Business Forum (WIBF) that will be hosted from October 24-26, 2023. From the 500 delegates, 150 will be international delegates who will be coming from 14 countries. Minister for International Trade and Investment, Hon. Richard Maru...

The Minister for International Trade and Investment, Hon. Richard Maru says Papua New Guinea (PNG) needs investments in all sectors and not just in the mining and petroleum sector. Minister Maru said this after hosting of the inaugural PNG-Asia Investment Conference in Hong Kong on October 16-17, 2023. “We need investments across all sectors in order t...

The European Union (EU) has transferred EUR 4.25 million (around 17 million Kina) to the Government of PNG to support key national policies on Good Governance and Anti-Corruption in the Social, Law and Order Sector (SLOS). With this grant, the EU recognizes and supports the Government’s commitment to the promotion of Good Governance and the eradication of...

The Bougainville Coastal Waters Survey Program is set to commence this month to map out areas that constitute as ‘Bougainville waters’, as part of the drawdown of fisheries powers and functions to the Autonomous Bougainville Government. ABG President Hon. Ishmael Toroama officially launched the Survey today in Buka, signifying a milestone for Bougainvi...

Prime Minister Hon. James Marape has welcomed H.E Satu Mattila-Budich, the Ambassador-designate of the Republic of Finland to Papua New Guinea. Her Excellency, Mrs Mattila-Budich was introduced to the Prime Minister at his Sir Manasupe House Office, as PM Marape took the opportunity to invite Finnish investments into the country and highlight PNG’s pro...

Minister for International Trade and Investment, Hon Richard Maru officially announced the commencement of the joint feasibility study for a possible Free Trade Agreement between Papua New Guinea (PNG) and the People’s Republic of China (PRC). Minister Maru made the announcement today on the eve of Prime Minister, Hon. James Marape’s official state visit ...

The first direct flight between Port Moresby and Guangzhou of the People’s Republic of China is expected to take place in December this year. This announcement was made yesterday by the Minister for International Trade and Investment, Hon. Richard Maru. The discussion on opening of direct flights between Port Moresby and Guangzhou was held between Prim...

The Bank of Papua New Guinea presented to the Port Moresby Chamber of Commerce and Industry the September 2023 Monetary Policy Statement at the Hilton Hotel on the 4th of October 2023. Ms. Elizabeth Genia, Acting Governor of the Bank of PNG, said: "I would like to thank the POMCCI for inviting the Bank of Papua New Guinea to present the September Monet...

Papua New Guinea’s (PNG) economy is forecast to grow by 2% in 2023 and 2.6% in 2024 amid challenges in various fronts, says the Asian Development Outlook (ADO) September 2023.  Difficulties in accessing foreign exchange, power and water supply disruptions, frequent domestic flight cancelations, and issues in the banking sector are some of the economic ...

Growth in developing East Asia and Pacific is projected to remain strong at 5% in 2023 but will ease in the second half of 2023 and is forecast to be 4.5% during 2024, the World Bank said recently in its semi-annual economic outlook for the region. According to the World Bank’s East Asia and Pacific October 2023 Economic Update, regional growth this ye...

The Asian Development Bank (ADB) has approved an additional financing package of $42 million to support the delivery of affordable and high-quality health services in Papua New Guinea (PNG). The second additional financing package for the Health Services Sector Development Program comprises a concessional loan worth $35 million and a $7 million grant s...

The Bougainville Vision 2052 and the Bougainville Integrated Strategic Development Plan 2023-2027 represents a shared, home-grown vision that sets the course for Bougainville’s socio-economic and political prosperity over the next three decades. The Autonomous Bougainville Government officially launched these two significant strategic plans at Toniva i...