Photo: Greg Pawson Kina Bank's CEO, Greg Pawson, has announced plans to expand the bank's presence offshore due to the government's decision to increase tax on banks this year. Pawson described the tax increase from 30 per cent to 45 per cent this year as a "disincentive for growth" and said, "We will be bringing forward our plans for offshore expansio...

Photo credit: PNG Chamber of Mines and Petroleum - Dr Albert Mellam, PhD Credit Corporation Finance Ltd (CCF), a subsidiary of Credit Corporation (PNG) Ltd, has received approval in principle from the Bank of Papua New Guinea (BPNG) for a banking license. According to the chairman of Credit Corporation PNG, Dr. Albert Mellam, "the BPNG offered an appro...

Photo: The Prime Minister with government delegates and members of Parliament at the Launching Ceremony Prime Minister Hon. James Marape and Constitutional and Law Reform (CLRC) Chairman Hon. Saki Soloma launched the Constitutional Directive No.4: Review of the Form and System of Government -The Election of the Prime Minister on 15 February at Holiday ...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page Outgoing Malaysian High Commissioner to Papua New Guinea, His Excellency Melvin Cheah Chee Aun will be leaving the country tomorrow with one regret and that is COVID-19 prevented him from working to assist many more interested Malaysian investors who were keen t...

Photo: MV Rabaul Chief sailing on Papua New Guinea waters. The vessel will be deployed on the new PWX service. Swire Shipping, a leading operator of liner shipping services in the Asia Pacific, has introduced the Pacific Weekly Express (PWX) service, a new fixed-day weekly service that connects South-East Asia, Europe, India, and the Middle East with P...

Acting Bougainville Chief Tax Collector Aloyis Daton has appealed to the Bougainville Executive Council (BEC) to review the taxation laws in Bougainville as some regulations were harsh and did not contribute to the economic development. Mr Daton said that he had presented the submission on the suggested taxation policies to the Minister for Finance in ...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page Minister for International Trade and Investment, Hon. Richard Maru has highly commended Prime Minister James Marape and the NEC for the very bold and visionary decision to set up a Mission in Thailand amongst the four new missions to be established by the Marape...

Papua New Guinea will observe its Golden Jubilee as an independent nation 5 years from now in the next term of parliament, and since the country gained its independence the election of the Prime Minister was mandated to the members of parliament, who at national elections were elected by their constituencies. That system is likely to change as there wi...

The Investment Promotion Authority (IPA) has assisted a small bee farming business in Simbu Province with bee keeping equipment to help boost its production capacity. Bussy Honey & Integrated Farming is a family business owned by Mr. Mek Degene and his wife Mrs. Matri Degene and located in Ainanimin Village in the Tabare LLG, Simbu Province.  The c...

Photo credit: Investment Promotion Authority  The Investment Promotion Authority (IPA) has signed a Memorandum of Understanding (MOU) with the Eastern Highlands Provincial Administration (EHPA). The MOU paves way for the Eastern Highlands Provincial Administration to deliver IPA services through the Help Desk to be established within the Commerce Di...

Photo credit: PNG Chamber of Mines and Petroleum - Dr Albert Mellam, PhD PNG Chamber of Mines and Petroleum today announced the departure of Dr Albert Mellam, PhD, as the Executive Director of the Chamber, having served in this role for the past 5 years.  Dr Mellam is the first Papua New Guinean and second Director to head this peak industry body in...

Photo credit: PNG Office of the Prime Minister Facebook Page Prime Minister Hon. James Marape announced recently (Wednesday, January 25, 2023) that Papua New Guinea will host the World Indigenous Business Forum (WIBF) in October this year, 2023. The WIBF is a forum where indigenous people from all over the world like the New Zealand Maoris, American...

Photo credit: PNG Office of the Prime Minister Facebook Page Prime Minister Hon. James Marape has welcomed passage of the landmark National Trade Bill 2023 by Parliament. The landmark bill, unanimously passed by Parliament last Thursday (January 19, 2023) after much debate, was introduced by Minister for International Trade and Investment Hon. Richa...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page A full feasibility study on the bilateral trade between Papua New Guinea (PNG) and Australia will commence at the beginning of next month. This was announced by the Minister for International Trade and Investment, Honourable Richard Maru ahead of a PNG Australia...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page The team of rice investors from the Republic of the Philippines who arrived on Monday have chosen Gabadi in the Kairuku District of Central Province as the most ideal location for large-scale rice investment in Papua New Guinea (PNG), under the nucleus estate c...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page Minister for International Trade and Investment, Hon. Richard Maru has invited Indonesia through its Ambassador to Papua New Guinea, His Excellency Adriana Supandy to host the first ever historical PNG-Indonesia Trade Meeting this year in Jayapura, Indonesia. ...