The Government, through BPNG, seeks to bring the PGK/USD exchange rate to the ‘market clearing’ rate, where the supply of currency can meet demand without BPNG intervention. “This will, in theory, allow for the free flow of trade particularly for imports. This is a necessary step by the Government for the market to function efficiently,” Mark Robinson ...

Economies in the Pacific are projected to grow collectively by 3.3% in 2023 and 2.8% in 2024 as the subregion continues to recover from the COVID-19 pandemic, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM) launched recently. In Papua New Guinea (PNG), the subregion’s largest economy, increased output ...

The Asian Development Bank (ADB) has appointed Said Zaidansyah as the Country Director for Papua New Guinea (PNG). Mr. Zaidansyah, who assumes office today, will oversee ADB’s country partnership strategy for PNG and wider engagement in the country. “Working with the Government of Papua New Guinea, we are committed to, among other things, helping rehab...

The State Negotiating Team for the proposed Joint Venture (JV) between the State and the RD Corporation met for the first time today to commence JV negotiations. Minister for International Trade and Investment, Hon. Richard Maru met with the team to give them the overall picture of what the Government wanted from this JV negotiations and what the team had...

Minister for International Trade and Investment, Hon. Richard Maru says he is happy with his visit to China recently. “Building on the sister-city relationship between Shenzhen and Port Moresby and the recent State visit of Governor of Guangdong, Wang Weizhong, I was happy to make my first official visit as the Minister for International Trade and Inve...

Prime Minister Hon. James Marape recently gave a gleaming report on Minerals Resources Development Company (MRDC) while describing it “very much the success story (Great) Grand Chief Sir Michael Somare wanted it to be”. PM Marape was tabling the financial accounts of the company in Parliament when he revealed that the company, founded by the late found...

Prime Minister and Foreign Affairs Minister Hon. James Marape expressed his enthusiasm for the goodwill visit of two large Indian naval vessels to Papua New Guinea, stating that it signifies a promising future for India-Papua New Guinea relations. The visit, closely following the historic presence of Indian Prime Minister Hon. Narendra Modi in May, reinfo...

The Investment Promotion Authority (IPA) through the Office of the Registrar of Companies has issued a final warning to owners of Business Names that have expired to come forward and renew them by August 31st 2023 or risk an automatic cancellation by the system. This means that any owner who wishes to maintain or restore the same business name after its c...

To our readers,  We sincerely apologise for the article 'Gold Trader Speaks Out on Proposed Gold Refinery Bill' on our platform.  It has come to our attention that the article contained misleading and erroneous information, and upon our review we concur with this observation.  We have taken immediate action to rectify the situation by removing th...

During his visit to the Variarata National Park on Friday, July 28, 323, His Excellency Emmanuel Macron, the French President, addressed the students of Sogeri School of Excellence in Central Province, emphasising the importance of rainforest conservation in generating employment opportunities. President Macron highlighted the significance of preservin...

Papua New Guinea and the Republic of France have established a landmark cooperation in Forest Management, Conservation, and Climate Change during a bilateral meeting between Prime Minister of Papua New Guinea, Hon. James Marape, and the President of the Republic of France, His Excellency Emmanuel Macron, in Port Moresby on Friday, July 28, 2023. Prime ...

Prime Minister Hon. James Marape on Thursday, July 27, 2023, met with the United States Secretary of Defense Lloyd J. Austin III as Papua New Guinea and USA continue to work at taking their deepening bilateral relation to the next level. The visit by Secretary Austin to Port Moresby and his meeting with PM Marape is a follow-up to the signing of two si...

The Papua New Guinea (Hong Kong, China) Chamber of Commerce (PNGHKCCC) will be officially recognized by the Government of Papua New Guinea (PNG) on October 15, 2023, during a welcome dinner which will be hosted by the chamber for the PNG delegates who will be attending the upcoming inaugural PNG-Asia Investment Conference in Hong Kong on October 16-17. Th...

An agreement was reached recently between the Ministry and the Department of International Trade and Investment, and the Shenzhen Government and private sector for the new Papua New Guinea (PNG) trade mission to be in a very prestigious office building in Shenzhen. “To have a trade mission in China is a very historic decision made by our Government and...

The Governor for Guangdong Province of China, Wang Weizhong said his Government was already working with a local airline company, the China Southern Airlines to open direct flights between Port Moresby and Guangzhou following his discussion with Prime Minister, Hon. James Marape during his visit to Port Moresby in July this year. Governor Weizhong said th...

In a difficult job market, characterised by skill shortages, businesses are constantly seeking innovative solutions to streamline their recruitment processes while fostering social responsibility. PNG CR, formerly known as Red Sea Housing Company PNG, has harnessed the potential of technology and community engagement by teaming up with Wan PNG, an innovat...