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Photo: Stefano Mocci, Country Manager for the World Bank in Papua New Guinea The World Bank’s Board of Executive Directors has approved three new projects with a combined commitment of over US$200 million (PGK722 million). The projects will support Papua New Guinean communities through major upgrades to key roads, tackling malnutrition and stunting, an...

Photo: Mr Lucas Alkan The PNG economy stands to make a quick recovery and growth can pick up this year if the Government acts early to facilitate recovery in a fragile environment as the country slowly recovers from the Covid 19 challenges, according to the PNG EITI. Head of the PNG Extractive Industry Industries Transparency Initiative Mr Lucas Alk...

Photo credit: PNG Haus Bung The National Airports Corporation has inked an agreement with the Port Moresby Technical College to provide students with job opportunities. The MoU is the first of its sort for NAC with a national training institute, according to managing director Rex Kiponge. He stated that NAC and Port Moresby Technical College will...

The funding will be used to rehabilitate six of the 15 ports in Daru, Kavieng, Kimbe, Lae, Lorengau,   Oro Bay and highlands Inland Freight Hub.

Photo credit: Mayur Resources - Project Locations Mayur Resources Limited has executed an Expression of Interest (EOI) with Santos Ventures Pty Ltd, a subsidiary of Santos Limited, to jointly develop a portfolio of nature-based carbon offset projects in Papua New Guinea. Under the terms of the EOI, Mayur has agreed to provide Santos with an exclusiv...

EU Funded UN Joint STREIT PNG Programme, as part of its mission to support efforts towards reducing rural poverty, is engaging local communities with a focus on struggling single parents as a support workforcefor maintenance of 18 selected farm-to-market roads in the Sepik region. Led by the International Labour Organization (ILO), the creation of thes...

Photo: PM Marape addressing the crowd in Maprik Prime Minister Hon. James Marape says East Sepik has the potential to become the “economic powerhouse” of Papua New Guinea. He said in Maprik recently (June 22 2022) that because of this potential, and in memory of founding Prime Minister the late Sir Michael Somare, the next Government would be formed...

Photo credit: ABG Celebrations began as early as 5am in the Autonomous Region of Bougainville as the region marked its 17th anniversary since the establishment of the Autonomous Bougainville Government. Seventeen years ago on 15 June 2005, the members of the first Bougainville House of Representatives were sworn in under the leadership of the first ...

Photo credit: ADB The Asian Development Bank’s (ADB) transport investments in the Pacific are expected to reach over $1.6 billion, including $115 million in cofinancing, for 22 projects during the 2022–2024 period, according to the latest issue of the Pacific Transport Update launched today. The Pacific Transport Update 2022 provides an overview of ...

Photo credit: NFA The National Fisheries Authority (NFA) is focusing on Food Safety, COVID-19, and Pandemic Control Frameworks due to a considerable shift in global trading market requirements. Acting Manager for the Audit Certification Unit, Josephine Komboi, NFA, highlighted the importance of developing the National Fish and Fishery Products Stand...

Photo credit: Asian Development Bank International flights will begin shortly at the new K28.8 million Vanimo Airport in West Sepik Province. This new facility was recently inaugurated. The government and the Asian Development Bank are contributing K70.1 million to renovate the airport terminal, runway, and other infrastructure (ADB). The new Van...

Businesses of Papua New Guinea’s private sector have expressed mixed views regarding the country’s economic outlook. The market prognosis, according to Kina Asset Management Ltd, remains unpredictable. In the company's recently issued 2021 annual report, board chairman Sir Rabbie Namaliu emphasised this. “In my last report to shareholders, I note...

Prime Minister Hon. James Marape says his Government has paid off K400 million to complete the Yalu Bridge-Nadzab section of the Highlands Highway, paid off outstanding debts to contractors on the 9-Mile to Yalu Bridge section, and paid off the outstanding Papua New Guinea counterpart funding of the Nadzab International Airport. Roadworks come under th...

Photo credit: Loop PNG - Clarence Hoot  In the fourth edition of the Investment Promotion Authority's opportunity newsletter, published in April, managing director Clarence Hoot stated that it is a comfort to see that international borders have reopened. “As we start receiving international visitors into the country whether it be in tourism, busines...

Prime Minister Hon. James Marape has become one of the first world leaders to have a meeting with new Australian Prime Minister Hon. Anthony Albanese recently. PM Marape in Port Moresby had a 15-minute zoom meeting with PM Albanese in Canberra on his first day in office since the Australian Labour Party (ALP) won the national elections in Australia on ...

According to the Internal Revenue Commission, all workers earning at least K673 per fortnight would have their tax bills lowered by K42 per fortnight starting tomorrow (IRC). Commissioner-general Sam Koim stated in a public notice that the Government recently authorized an amendment to the Income Tax (Salary or Wages Tax) (Rates) Act, temporarily raisi...

Photo: Chinese Foreign Minister Wang Yi and PM Marape Prime Minister Hon. James Marape says Papua New Guinea is focused on strengthening economic relationships with China, particularly in downstream processing of raw materials for export. He said this on Friday (June 3 2022) after a meeting with Chinese Foreign Minister, His Excellency Wang Yi, the ...

Photo: Chinese Foreign Minister Wang Yi meeting with PM Marape on Friday Prime Minister Hon. James Marape says China-Papua New Guinea relations remain “solid and strong” since in 1976 when diplomatic relations between the two countries were forged. He said this on Friday (June 3 2022) after a meeting with State Councilor and Foreign Minister Wang Yi...