Photo Credit: The Department of Lands & Physical Planning of Papua New Guinea Prime Minister James Marape has stated that his government is considering tax incentives, one of which will be a 100% tax break on capital expenditures. He stated that this was one of the incentives his government was considering implementing to help businesses thrive ...

Papua New Guinea, according to Minister for Foreign Affairs and International Trade Soroi Eoe, has enormous potential to grow into a first-class economy in the Asia-Pacific. During the introduction of the National Trade Office's (NTO) business plan 2021-2025, he stated that PNG has a lively and expanding population that may generate enough demand for l...

The prime ministers of Papua New Guinea and New Zealand have signed a memorandum of agreement to further their cooperation. The leaders signed a Statement of Partnership in a virtual conference, reinforcing efforts to work through issues of trade and economics, as well as regional solidarity, amid the epidemic. PNG's Prime Minister, James Marape, ha...

External investors can now apply to do business in Bougainville under an amended Inward Investment Act. ABG Minister for Commerce, Trade and Industry Hon. Patrick Nisira made this announcement recently saying that Bougainville is ‘open for business’. “We are looking to deliver on the Autonomous Bougainville Government’s ambition for a strong local e...

The Asian Development Bank (ADB) has launched a new strategy to help ADB’s Pacific developing member countries (DMCs) improve connectivity and tackle other core development challenges across the Pacific over the next 5 years. The Transport Sector Assessment, Strategy, and Road Map 2021–2025 reviews transport sector performance, summarizes development c...

The Kokoda Track Foundation has appointed Peter Aitsi to its board of directors. Aitsi brings his wealth of experience gained over 30 years in corporate leadership roles and directorships across Papua New Guinea, most recently as group CEO of Credit Corporation PNG and country manager of Newcrest Mining, to his new position, which was confirmed at the ...

According to Independent Consumer and Competition Commission chief executive officer Paulus Ain, the proposed code-sharing agreement between Link PNG Ltd and PNG Air should only be approved if a number of criterias are met. The criteria, he added, should be targeted at modifying the planned code-share agreement to reduce the likelihood of anti-competit...

Due to the National Airports Corporations' ongoing rehabilitation work on the airport runway, air traffic into Madang will be disrupted. The airport will be closed from July 23 until August 8, 2021, for renovation. Runway restoration is presently in Stage 5 of the Method of Works Plan (MOWP) for Madang Aerodrome, according to NAC interim managing di...

The Prime Minister, Hon. James Marape MP said the government is looking for a partner or investor, such as Puma Energy, to assist it to achieve its goal of creating a low-cost fuel and energy industry in the country. He also urged Puma Energy to stay in PNG's local petroleum and energy sector and invest more. PM Marape made the remarks at Puma Energ...

As part of their involvement in the battle against COVID-19, Prime Minister Hon. James Marape, MP has called on Japan, Australia, and New Zealand to open up an economic bubble with Pacific Island countries. During the 9th Pacific Alliance Leaders Meeting (PALM), which was held online, the Prime Minister made this request. COVID-19, he added, was not ju...

As the 12 smallest Pacific island countries (PIC-12) recover from the immediate shock of the (COVID-19) pandemic, the Asian Development Bank has endorsed a new 5-year strategy aimed at building resilience against economic shocks, delivering sustainable services, and promoting inclusive and sustainable growth. The Cook Islands, the Federated States of M...

Secretary Harry Kore said the Department of Mineral Policy and Geohazards Management (DMPFGM) is putting up the country's Geohazards management policy. Kore recently made the remarks during the commissioning of the Port Moresby Geophysical Observatory's new office expansion. According to him, the policy covered the seismic component of the construct...

Bougainville's leaders have agreed to seek independence from Papua New Guinea no later than 2027. In a referendum held in 2019, 97.7% of Bougainvilleans decided to separate from Papua New Guinea and become the world's youngest nation. President Ishmael Toroama of Bougainville and Prime Minister James Marape of Papua New Guinea met in the Highlands t...

Image: By Kate Uvia David Kavanamur, chairman of Kumul Consolidated Holdings (KCH), said the company has a good understanding of the financials and debt structure of state-owned companies (SOEs). He said this in response to an update on SOE reforms, which included the situation of SOEs that had struggled to be profitable for the previous 20 years. ...

Pacific Trade Invest Australia has assisted 109 firms in PNG, 47 of which are managed or controlled by women, facilitating K2 million in exports and K45,519 (A$17,120) in investment transactions. This was just reported in the Pacific Trade Invest annual report 2020. Caleb Jarvis, PTI Australia's Trade and Investment Commissioner, stated in the annua...

The long-term answer for connecting the Central province with the Southern area would be to build a train transit infrastructure. Sir Puka Temu, Member of Parliament for Abau, believes that constructing a railway system will be a fantastic method to link people and enhance the province's infrastructure. During the Central Provincial Development Foru...