By the end of November, the National Airports Corporation is set to finish its Tranche 3 projects under the Civil Aviation Development Investment Program. According to acting managing director and CEO Ephraim Wasem, these projects began in March 2017.The projects began with 12 project sites that included Mount Hagen in Western Highlands, Momote in Manus, ...

Following a meeting of the Milne Bay Steering Committee, the Centre for Excellence in Financial Inclusion (CEFI) and the Milne Bay Provincial Administration (MBPA) have partnered to work on the agenda of financial inclusion in the province.Among the key activities for this financial inclusion include training of trainers for financial literacy training, b...

Stakeholders and investors hope for a quick resolution to key resource project negotiations in driving economic growth and confidence.This was according to Kina bank Executive general manager for banking Lesieli Taviri who said that this was on top of the government spending to enhance infrastructure and provide confidence - until the global pandemic diss...

Kina Bank will not create a duopoly, even with the proposed acquisition of Westpac PNG and Fiji.This was according to Kina Bank executive general manager banking Lesieli Taviri, who said that the acquisition will only cover 20 percent of the market with a multi-brand approach. She added that it is to create a new brand for the acquired business and to mai...

Prime Minister James Marape revealed that PNG must take back its resources from foreign exploitation to take the country out of poverty. This is his Vision 2050 to “Take Back PNG”.“Corruption was sucking 30 to 40 per cent of internal revenue,” he said, adding that the country was not earning the fair cost of its resource exports. “We are still looking for...

Prime Minister James Marape said that three multi-billion projects are expected to be signed in the next few weeks, giving his thanks to the investors of these projects: the US$5.4 billion (K18.49 billion) Wafi-Golpu copper and gold project, US$13 billion (K44.5 billion) Papua LNG project and the US$525 million (K1.7 billion) Pasca-offshore oil and gas pr...

The construction of the Kumul Submarine Cable Network (KSCN) is to be finished in the third quarter of 2021.According to PNG DataCo managing director Paul Komboi, while the Coral Sea cable has been online since February 2020, the domestic part has been put on hold because of the COVID restrictions. Komboi said that the landing is already finished for syst...

With gold, copper and liquefied natural gas (LNG) expected to be strong, the economy could rebound this year.According to K92 Mining Inc chief executive officer John Lewins, this would be achievable if the impact of the COVID crisis is managed and that 2021 would still be a challenging year for many. He said that in early January, the cost of gold rallie...

An official said that all businesses are looking forward to the growth of the economy. According to PNG Ports Corporation Ltd (PNGPCL) managing director Fego Kiniafa, their business was solely dependent on exporters and importers, and the availability of foreign exchange for trading to happen. “PNGPCL is hopeful that the economy registers a positive growt...

In encouraging transparency within the government, the ICT sector and to comply with their policy and legislative measures, Information and Communication Technology Minister Timothy Masiu said that he wants his department organised. He said that to deliver ICT services that are cost-effective, reliable and affordable, his department must listen to the sta...

To finance its National Budget for 2021, repay its debts, and stabilise the economy, Japan has provided a K1 billion concessional loan to Papua New Guinea. Japan is also giving K32 Million grant for the PNG electrification partnership as agreed with the United States, Japan, New Zealand, and Australia. According to Japanese ambassador Kuniyuki Nakahara, t...

In launching the new Jiwaka provincial headquarters at Kurumul, Papua New Guinea Prime Minister Hon. James Marape has emphasized the need for technically-skilled people.PM Marape said that the government will be elevating and upgrading the Tombil Vocational Centre into a fully-fledged Technical Vocational Education Training (TVET) college.“Our country is ...

The Internal Revenue Commission (IRC) has unveiled its yearly work plan in Port Moresby.According to IRC Commissioner Sam Koim, the plan which outlines seven key strategic pillars contains a vision to transform the organisation into a modern, robust, and efficient tax administration by 2025. These seven key strategic pillars include data-driven, fostering...

The power outages in Port Moresby may end in March.This was according to PNG Power Limited managing director Flagon Bekker who said that they are working on the transformer at the Port Moresby grid because they couldn’t bring in a new one. He added that bringing in an expert for the tap changer may not be possible for this time. “We don’t have the person ...

To improve the trade capacity of Pacific countries, the Pacific Island Forum Secretariat (PIFS) and the European Union (EU) have signed a project titled “Strengthening Pacific Intra-Regional and International Trade (SPIRIT)”. The project is set to cost EUR 5.75 million.Aimed at increasing and boosting intra-regional and international trade through strengt...

In a recent survey conducted by the Pacific Trade Invest network, it has revealed that the pandemic continues to impact small businesses. Newly appointed Trade Commissioner of the Pacific Trade Invest New Zealand office, Glynis Miller said that “the results are not surprising as they do reflect real challenges faced by a large majority of SMEs.”According ...