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The Nadzab airport redevelopment project, which is valued at K750 million, is nearing completion, with an official launching ceremony scheduled for September 16, Papua New Guinea's 48th Independence anniversary. The project is currently between 80 and 90 percent complete and will cater to a variety of aircraft, including Fokker 100, Boeing B737, and B777 ...

Photo credit: Post Courier The demand for greater contract transparency in the resources sector is growing as Papua New Guinea prepares to release its 8th and 9th PNG Extractive Industries Transparency Initiative (PNGEITI) reports. These reports cover the fiscal years 2020 and 2021, and they offer valuable insights into the operations of the PNG extrac...

The Investment Promotion Authority of PNG through the Office of the Registrar of Companies has announced a successful completion of its data migration process at the end of March. This now means that entity records from the old registry are outdated and not relevant. Clients who need to access historical information about their entities must search the...

The PNG Chamber of Mines and Petroleum has announced the appointment of Ms. Gretel Orake as its new Policy Manager. President for the Chamber of Mines and Petroleum, Mr. Anthony Smaré, said the Chamber is delighted to welcome Ms Orake onto the leadership team at the Chamber. “All corporate players in the mining and petroleum industry know and respect M...

James Marape has urged government regulatory agencies in the agriculture, fisheries, forestry and commodity sectors to embrace accountability and monitor the resources being harvested in the country. This call comes after the Mineral Resources Authority (MRA) launched its data repository recently, which will provide real-time data on minerals produced in ...

Minister for International Trade and Investment, Hon. Richard Maru whilst thanking Kumul Petroleum Holdings Limited (KPHL) for its sponsorship of K100, 000 towards the very first Papua New Guinea (PNG) International Special Economic Zone (SEZ) Summit said KPHL will go beyond being a sponsor to becoming a very important partner in the SEZ journey. “One ...

Photo credit: ADB The Pacific is expected to sustain its economic recovery, with growth across all of Asian Development Bank’s (ADB) Pacific developing member countries this year, according to the Asian Development Outlook (ADO) April 2023, ADB’s flagship economic publication, released today. Pacific economies expanded by an average of 5.2% in 2022 ...

Photo: KPHL managing director Mr Wapu Sonk (centre) with Mr Zheng Lijun, President SNEC and Mr Chen Lie, Vice President CSCEC, at the MOU signing ceremony The Kumul Petroleum Holdings Limited fabrication facility is now one step closer, after the signing of an MOU with two international companies to oversee the engineering, procurement and construction...

Papua New Guinea’s economy has recovered above its pre-pandemic GDP, with high commodity prices and the removal of COVID-19 restrictions accelerating economic growth to 4.5 percent for 2022, the World Bank’s latest Economic Update for Papua New Guinea has found. The World Bank Papua New Guinea Economic Update reports that PNG’s fiscal deficit is estima...

Photo: Mr. Benny Popoitai Minister for International Trade and Investment, Hon Richard Maru today announced the appointment of Mr. Benny Popoitai as the Director to Papua New Guinea National Stock Exchange (PNGX). Mr. Popoitai’s appointment was made pursuant to Section 12 (1) of the Capital Market Act 2015. “It gives me the great honor and privilege...

Photo: Minister for International Trade and Investment, Hon. Richard Maru The Pacific Balance Fund (PBF) and other Unit Trust/Investment Schemes in Papua New Guinea (PNG) must improve to help grow the capital market and support domestic investments, says Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru raised concern...

Photo: Minister for International Trade and Investment, Hon. Richard Maru  The Marape-Rosso Government has directed the Securities Commission of Papua New Guinea (SCPNG) to work with all key stakeholders like Asian Development Bank (ADB), Bank of Papua New Guinea (BPNG), Port Moresby Stock Exchange, and all capital market players to immediately formula...

Member of Parliament for Alotau Ricky Morris has called for the review of the Minimum Wage Law to include workers in the agriculture sector. Mr Morris made this call in a series of questions directed to the deputy Prime Minister and acting Minister for Labour and Industrial relations, John Rosso, in a Parliament Sitting on Thursday 23rd March. He as...

Photo: Acting Governor of Bank of PNG, Mrs. Elizabeth Genia, Acting Assistant Governor, FSSG, Bank of PNG Mr. George Awap, CEFI Executive Director Mr. Garima Tongia and CEFI Financial Inclusion Adviser Mr. Saliya Ranasighe pose for a group photo with CEFI Board Members, Mr. Tony Westaway (2nd from left-front row) and Paulus Laveil (1st from right-front ro...

Minister for International Trade and Investment, Hon. Richard Maru invited the CEOs of provident fund, superannuation fund, sovereign wealth funds, trust funds, and social security administrations from across the Pacific who had gathered in Port Moresby for the 2023 Pacific Islands Investment CEO’s Forum to invest in Papua New Guinea (PNG), especially in ...

On the 10th of March,  Kumul Petroleum Holdings Limited and Fabtech International, a Dubai based Fabrication Facility Operator, signed a management and operations agreement for a Fabrication Facility to be established in Port Moresby, in preparation for the construction phase of the Papua LNG and subsequent LNG and mining projects. Mr Sonk said, “This ...

Photo: Foreign Affairs Minister Justin Tkatchenko In another milestone achievement in Australia-Papua New Guinea relations, visa issues that businesses and individuals face will come to an end as both countries agreed to set up a visa office in Port Moresby with a 14-day processing turnaround period. The Australian visa office in Port Moresby is set...

According to Tom Nou, the Nadzab International Airport is close to completion and is expected to be finished by the end of April this year. Mr. Nou, who is the National Airports Corporation's (NAC) Nadzab Project director, stated that 98% of the project has been completed, and the remaining 2% involves handovers and takeovers. He made these comments durin...