Photo: Minister for Trade and International Investment, Hon. Richard Maru Special Economic Zones are a launching pad for economic development in the country, and the current government has taken a decisive stance under the leadership of current Prime Minister James Marape by setting up and legislating 18 SEZs in 2019. This policy was the brainchild ...

The National Government continues to embark on prioritizing its "Connect PNG Economic Road Transport Infrastructure Development Programme 2020-2040" with its delivery target set for 2040. This means by 2040, PNG will have access to 100 per cent road connectivity, connecting more than six million people to massive services and economic opportunities. Th...

Photo: Simon Sia and PNG SME Corp Delegates As the Government has placed more emphasis on Micro, Small & Medium Enterprises (MSMEs) and Small & Medium-Sized Enterprises in the country, Eastern Highlands Province launched its SME policy over the festive period. Governor for Eastern Highlands Simon Sia and delegates from the PNG SME corporatio...

Photo: BSP Group GM for Corporate Banking, Peter Beswick “Business and consumer confidence continued to improve during the final quarter of 2022, with anecdotal evidence across a broad section of our retailers and hotel operators experiencing record pre and post-Christmas sales activity”, said BSP Group GM for Corporate Banking, Peter Beswick. In gi...

Photo: BSP Acting Group Chief Executive Officer Ronesh Dayal Papua New Guinea's economy through the course of 2022, has experienced higher levels of activity post the COVID-19 period. To maintain this shift in momentum, government needs to accelerate foreign direct investment (FDI) in 2023. According to the 2022 BSP Quarter 4 Pacific Economic and Ma...

Photo: Prime Ministers Albanese and Marape at Commander’s Beach at Moem Barracks in Wewak .- PM’s Office Media Prime Minister Hon. James Marape says for the first time in 47 years of Independence for Papua New Guinea from Australia, an Australian Government and Prime Minister are addressing all outstanding issues between both countries. He said this...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Minister for International Trade and Investment, Hon. Richard Maru welcomed Australian Government’s Commitment to work with Papua New Guinea on the development of Special Economic Zones (SEZs). Minister Maru in his meeting today with the Australian High Commissioner to PNG, H...

Photo credit: Papua New Guinea's Prime Minister James Marape and his Australian counterpart Anthony Albanese Australia's Prime Minister Anthony Albanese has announced plans to increase two-way trade with Papua New Guinea (PNG) in areas such as coffee, cocoa, fisheries, and tourism. In a speech to Parliament, Albanese stated that the Australian and PNG ...

Small and medium-sized enterprises (SMEs) can be a force to reckon with in Papua New Guinea if the funds parked in the two banks, National Development Bank (NDB) Ltd and Bank South Pacific (BSP) Financial Group Ltd, by the Government are fully fulfilling the vision of the Government by reaching the wider population and are in line with the goals outlined ...

A review into the Superannuation and Life Insurance industry has been compiled and recommendations have been presented to the regulator, The Bank of Papua New Guinea. It is a step towards making the necessary amendments towards Superannuation and Life Insurance legislations passed by Parliament more than two decades ago. The Superannuation and Life ...

Photo: PM Marape in Parliament Prime Minister Hon. James Marape has welcomed the Investment Promotion (Amendment) Bill 2022, unanimously passed by Parliament today (January 11, 2023), which encourages the growth of Papua New Guinea-owned small-to-medium enterprises (SMEs) while at the same time attracting foreign direct investment (FDI). PM Marape a...

Photo credit: Department of Foreign Affairs and Trade The Australian Government have been vibrant in providing economic and employment opportunities for locals in the Autonomous Region of Bougainville through its Papua New Guinea-Australia Transport Sector Support Program (TSSP) and their Community Work Arrangements for the past three years. Support...

First elected member for the Newly created electorate Hiri Koiari in the Central Province, Keith Iduhu launched the District's Five Year Development plan recently at the Apec Haus. Government Representatives and distinguished guests led by the Prime Minister were present to attend the launching ceremony. Mr Iduhu stated in his speech that he had promis...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page The Minister for International Trade and Investment, Hon. Richard Maru who is the Minister responsible for the capital market of Papua New Guinea along with its regulator the Securities Commission of Papua New Guinea (SCPNG) said the capital markert will see maj...

Photo: PNG Treasurer Ian Ling-Stuckey and ADB Country Director for Papua New Guinea David Hill  Credit: ADB in the Pacific Facebook Page The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed loan and grant agreements amounting to more than $66 million to help improve the country’s technical and vocational educati...

Economic growth in the Pacific will rebound in 2022–2023, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM) launched today. Growth for the subregion is projected to be 5.3% in 2022 and 4.8% in 2023, partly fueled by stronger-than-expected tourism activity in Fiji and a recovery in Papua New Guinea’s mine...