Photo credit: Christine Gneh According to a new World Bank estimate, Papua New Guinea's GDP is expected to increase by 4% in 2022, owing mostly to expansion in the extractives industry. The research, PNG Economic Update: Navigating a Fragile Recovery, examined major recent changes in PNG's economy and placed them in a longer-term and global perspect...

Potential for PNG-UAE commodity trade, including in mineral products will soon be boosted with the involvement of UAE state-owned companies and other private investors closely connected to the country's Royal families. This is possible through the aggressive implementation of the target-based investment, trade and market access strategic framework by t...

Photo: CEFI and key stakeholders pose for a group photo after the meeting The Centre for Excellence in Financial Inclusion (CEFI) is partnering with key stakeholders and government agencies to drive the plan for Green Finance in Papua New Guinea (PNG). On February 23 the Inclusive Green Finance Policy (IGFP) Project Technical Working Group (TWG) hel...

The Independent Consumer and Competition Commission has begun the process of rescinding its recent authorization determination for the Link PNG and PNG Air codeshare agreement. The authorization was given with specific requirements for Link PNG and PNG Air to meet before it becomes operational, according to ICCC Commissioner and Chief Executive Officer...

Tokua Airport in East New Britain has received a K9.2 million grant from the Japanese government (ENB). Soroi Eoe, the Minister of Foreign Affairs and International Trade, praised Japanese Ambassador Nobuyuki Watanabe for his aid in Port Moresby. A K15.6 million grant from the Japanese government was also offered for development on the Rouna 3 hydro...

Photo: The PNG Cultural group preparing for their performance at the Al Wasl Dome's stage of nations Papua New Guinea celebrated its national day at the world expo with cultural performances and the raising of the flag at the Al Wasl dome’s stage of nations. Deputy Prime Minister Honorable Sam Basil, MP officiated at the event alongside His Excellen...

Photo: The PNG Cultural group after their performance at the Earth Stage at the Dubai World Expo. The Papua New Guinea traditional costumes and dances supported by PNG International reggae sensation Anslom Nakikus brought out the PNG colours and vibes at the Earth Stage in the Dubai world expo on Monday night. The event kick started the PNG week org...

Photo: Papua New Guinea Agriculture Minister John Simon during the Investment Forum held at the Almas Conference Center, Almas Tower, Dubai, UAE Papua New Guinea has the potential to become the meat bowl or supplier of quality beef meat to the world if we had international “friends” partnering with government and existing industry players to invest in ...

Photo: (Left) Minister for Agriculture and Livestock Honorable John Simon and Minister for Tourism Arts and Culture Honorable Isi Henry Leonard (right) with the Secretary General and Chairman of the UAE Chamber of Commerce and Industry His Excellency Humaid Ben Salem who officiated at the second part or the Roundtable Discussion on Education, Science and ...

According to James Marape, his government has made lending facilities available to SMEs through Bank South Pacific (BSP) and the National Development Bank (NDB). He said that the projected Credit Guarantee Corporation of PNG has yet to be established as a result of this. In Parliament, PM Marape stated this in response to a question from Yangoru-Sau...

The Internal Revenue Commission has inaugurated its 2022 annual work plan at the Revenue Haus in Port Moresby, with the subject "Building the basis of a robust, modern, and efficient tax administration by 2025." Commissioner General Sam Koim of the Internal Revenue Service (IRC) said 2021 would be a difficult year, but with the goal of making IRC a str...

The Independent Consumer and Competition Commission has awarded the Australian telecommunications giant Telstra Corporation Limited permission to proceed with its acquisition of Digicel PNG Limited. ICCC Commissioner and CEO Paulus Ain stated that while Telstra is one of Australia's four (4) major telecommunications companies, the ICCC has concluded th...

One of the most significant hurdles to economic growth and direct foreign investment on Bougainville is the absence of insurance coverage by insurance companies for enterprises. Insurance companies in Papua New Guinea have a language in their policies that expressly indicates that they will not cover enterprises operating on Bougainville. This polic...

Photo credit: ABG - President Toroama and Steamships MD By agreeing to comply with the rules of the Autonomous Bougainville Government on inbound investment, Steamships Trading Company has taken the first step toward regaining its previous properties in Bougainville. Before the firm returns to Bougainville, Managing Director Rupert Bray went in Toni...

Photo credit: Tech Pacific - PNG Treasurer Ling-Stuckey Concludes Negotiations with Testra CEO , Andy Penn  According to Treasurer Ian Ling-Stuckey, modernizing Papua New Guinea's telecommunications industry can assist the country's economy to evolve. Ling-Stuckey stated in discussions with Telstra chief executive officer Andy Penn in Melbourne earl...

According to Justin Ilakini, acting managing director of the National Fisheries Authority (NFA), the government needs favorable rules in place to entice vessels to fish in the country's fishing zones under the Papua New Guinea flag. According to Ilakini, this will boost the country's development of a viable fisheries industry. In recent years, he ad...