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Minister for International Trade and Investment, Hon Richard Maru officially announced the commencement of the joint feasibility study for a possible Free Trade Agreement between Papua New Guinea (PNG) and the People’s Republic of China (PRC). Minister Maru made the announcement today on the eve of Prime Minister, Hon. James Marape’s official state visit ...

The first direct flight between Port Moresby and Guangzhou of the People’s Republic of China is expected to take place in December this year. This announcement was made yesterday by the Minister for International Trade and Investment, Hon. Richard Maru. The discussion on opening of direct flights between Port Moresby and Guangzhou was held between Prim...

The Bank of Papua New Guinea presented to the Port Moresby Chamber of Commerce and Industry the September 2023 Monetary Policy Statement at the Hilton Hotel on the 4th of October 2023. Ms. Elizabeth Genia, Acting Governor of the Bank of PNG, said: "I would like to thank the POMCCI for inviting the Bank of Papua New Guinea to present the September Monet...

Papua New Guinea’s (PNG) economy is forecast to grow by 2% in 2023 and 2.6% in 2024 amid challenges in various fronts, says the Asian Development Outlook (ADO) September 2023.  Difficulties in accessing foreign exchange, power and water supply disruptions, frequent domestic flight cancelations, and issues in the banking sector are some of the economic ...

Growth in developing East Asia and Pacific is projected to remain strong at 5% in 2023 but will ease in the second half of 2023 and is forecast to be 4.5% during 2024, the World Bank said recently in its semi-annual economic outlook for the region. According to the World Bank’s East Asia and Pacific October 2023 Economic Update, regional growth this ye...

The Asian Development Bank (ADB) has approved an additional financing package of $42 million to support the delivery of affordable and high-quality health services in Papua New Guinea (PNG). The second additional financing package for the Health Services Sector Development Program comprises a concessional loan worth $35 million and a $7 million grant s...

The Bougainville Vision 2052 and the Bougainville Integrated Strategic Development Plan 2023-2027 represents a shared, home-grown vision that sets the course for Bougainville’s socio-economic and political prosperity over the next three decades. The Autonomous Bougainville Government officially launched these two significant strategic plans at Toniva i...

Prime Minister Hon. James Marape expressed his enthusiasm for the ongoing rehabilitation of key road networks, including the Highlands Highway, Ramu Highway, Bulolo Highway, and Lae-Nadzab Road, during the inauguration of Papua New Guinea’s second international airport at Nadzab Tomodachi International Airport on Monday, October 2, 2023. Prime Minister...

Prime Minister Hon. James Marape celebrated the unveiling of the remarkable K794 million Nadzab Tomodachi International Airport on Monday, October 2, 2023, underscoring the enduring bond between Japan and Papua New Guinea. This project was made possible through a K692 million soft loan extended by the Japan International Cooperation Agency (JICA), with th...

The Minister for Commerce and Industry, Hon. Henry Amuli MP, has told an international audience that Papua New Guinean businesses, including Small and Medium Size Enterprises require technological and financial strength to meaningfully participate in trade and investment, including in service industries like tourism. The Minister was speaking at the la...

Operator of the US$19 billion PNG LNG Project, ExxonMobil PNG has come onboard as the third platinum sponsor for the Inaugural Papua New Guinea (PNG)-Asia Investment Conference in Hong Kong. Hosted by the PNG Chamber of Mines and Petroleum under the theme ‘Partnership for Prosperity’, the PNG-Asia Investment Conference will take place at the Kowloon Sh...

Through his participation, President Toroama is proud to announce the signing of an Infrastructure Agreement, which provides the framework to deliver critical infrastructures for Bougainville worth an estimated value of USD$4.8 billion (PGK17.5 billion) comprising government buildings, schools, hospitals, airport, sea ports, bridges, roads, power, telecom...

Prime Minister Hon. James Marape has told American government officials and the business sector that Pacific Island nations were not there in the United States to ask for Aid and grant but to negotiate for better business opportunities for themselves. Prime Minister Marape, who was the spokesperson for the Pacific Island nations, was speaking at a meet...

Prime Minister Hon. James Marape has used the opportunity of the 2nd US-PIF Summit to push for more follow-up action from the United States besides Security and Politics that he said must also encompass Trade & Commerce and other development areas. He pointed out that a “full” relationship between the two countries “must embody all other areas incl...

Prime Minister James Marape, today concluded the US-Pacific Leaders’ Summit and expressed his gratitude to the Biden Administration. The summit was an excellent opportunity for Pacific Island leaders to meet with President Biden and discuss issues related to mutual prosperity, security, and sustainability in the region. He said it is great to see th...

Mount Hagen’s first large scale, mixed-use development, Wonye Dobel is progressing well, as on Thursday 21st September, Steamships and Tininga Group of Companies sign an agreement to move forward with Phase II of the project. The capex investment worth an approximate K200 million is a joint venture with the Duckworth family of Tininga and was identifie...

Prime Minister Hon. James Marape is preparing to attend two significant overseas engagements in October – the inaugural PNG-Asia Mining & Petroleum Investment Conference in Hong Kong and the 3rd Belt & Road Forum for International Cooperation in Beijing, China.  Prime Minister Marape was being briefed recently by Chinese Ambassador to PNG, HE. ...

ABG President Hon. Ishmael Toroama announced a cabinet reshuffle, welcoming the swearing-in of Hon. Robin Wilson as the new Minister for Finance and Treasury in the Bougainville Executive Government.   President Toroama also revealed his assumption of the portfolio of the Minister for the Department of Mineral Energy Resources, previously held by Mi...