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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...

Photo Credit: Centre for Excellence in Financial Inclusion Facebook Page The Department of Community Development and Religion's Informal Economy Section recently signed a Memorandum of Understanding (MOU) with the Center of Excellence and Financial Inclusion (CEFI) that will provide a new collaboration pathway for training and education of Informal bus...

The Investment Promotion Authority (IPA) has signed a Memorandum of Understanding (MOU) with the Fraud and Anti-Corruption Directorate (NFACD) to share information to address issues of the Anti-Money Laundering and Counter Terrorist Financing (AML/CTF) including fraud. In a small but significant event at the IPA Haus, the MOU was signed by the IPA Mana...

According to Civil Aviation Minister Sekie Agisa and Transport Minister William Samb, the aviation industry is critical to the country's tourism and economic development. The aviation sector, according to Agisa, is a catalyst for social and economic activity by facilitating the flow of people and products. Aviation, he added, is critical to numerous...

Photo Credit: World Bank Group   The World Bank Board of Executive Directors recently approved a US$100 million (PGK 352 million equivalent) operation to support Papua New Guinea in its response to COVID-19, and to lay important foundations for a sustainable recovery. With Papua New Guinea’s economy entering the COVID-19 crisis with limited resil...

Hon. Yoshihide Suga, Japan's Prime Minister, has stated that his country will support Papua New Guinea's electricity initiative, supply road building equipment, and assist with a 30-billion-yen (K1 billion) emergency loan. During a virtual online bilateral summit between the two leaders, he offered this promise. “As part of our cooperation, we will ...

Photo Credit: Post Courier  Since 2014, the Civil Aviation Development Investment Program (CADIP), which is conducted by the National Airports Corporation, has been giving the Vanimo airport in West Sepik Province a substantial facelift. Aside from the continuing new infrastructure projects at the airport, the construction of a new terminal building...

Chairman Sir Rabbie Namaliu of Kina Asset Management Ltd (KAML) said the company has halted its investment program in Australia until the impact on economic conditions is better understood. He informed the annual general meeting that Australia's reaction to the Covid-19 epidemic had been one of the most stringent in the world, involving international a...

According to Australian High Commissioner Jon Philp, Australia aims to provide high-quality infrastructure for PNG, generate employment, and upskill locals. His administration recently announced that it will invest K1.1 billion (US$300 million) to improve and repair all marine facilities owned and maintained by PNG Ports. In Port Moresby, Philp sign...

After the National Government authorized the transfer, the Autonomous Bougainville Government received K30 million in tax proceeds from the Internal Revenue Commission today. President Ishmael Toroama, members of his government, and the Bougainville Public Service received the award from IRC Commissioner-General Sam Koim. The K30 million comes from ...

The Internal Revenue Commision (IRC) and the government of East New Britain (ENB) have formed a partnership to work together on tax collection in the province. IRC commissioner-general Sam Koim and ENB administrator Wilson Matava signed a memorandum of agreement in Kokopo. ENB ranked third in terms of tax collection, but Matava and Koim believe ther...

Small and medium businesses (SMEs) have a significant role in economic growth, according to Prime Minister Hon. James Marape. When addressing the 3rd SME Business Breakfast on Friday (June 25, 2021) to commemorate the end of SME Week, he also praised local SMEs for hosting PNG SME Week at APEC Haus in Port Moresby from June 21 to 25. “Thank you (SME...