Photo: PNG Treasurer Ian Ling-Stuckey and ADB Country Director for Papua New Guinea David Hill  Credit: ADB in the Pacific Facebook Page The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed loan and grant agreements amounting to more than $66 million to help improve the country’s technical and vocational educati...

Economic growth in the Pacific will rebound in 2022–2023, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM) launched today. Growth for the subregion is projected to be 5.3% in 2022 and 4.8% in 2023, partly fueled by stronger-than-expected tourism activity in Fiji and a recovery in Papua New Guinea’s mine...

The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed two loans to fund improvements to air services in PNG. Minister for Treasury Ian Ling-Stuckey and ADB Country Director for PNG David Hill participated in the signing ceremony. “This innovative program will help boost economic and social development in PNG,”...

Photo: Project cargo specialist, Steamships Logistics Division, has a fleet of nearly 30 ships, tugs, and barges, more than 200 trucking assets, as well as an expanse of machinery and equipment. It employs more than 1,700 staff (98 % PNG nationals). Papua New Guinea’s oldest business group, Steamships Trading Company Ltd, has invested millions in its L...

Photo: PNG Chamber of Mines and Petroleum President Anthony Smaré addressing delegates at the opening of the 16th PNG Mining and Petroleum Investment Conference and Exhibition in Sydney, Australia. President of the PNG Chamber of Mines and Petroleum, Mr Anthony Smaré during the 16th PNG Mining and Petroleum Investment Conference and Exhibition, acknowl...

The Papua New Guinea Chamber of Mines and Petroleum has announced that it is considering a name change to PNG Chamber of Resource and Energy (PNG Core) to better reflect the change in the commodities produced by the sector in PNG. PNG Chamber of Mines and Petroleum President Anthony Smaré made this announcement during the 16th Mining and Petroleum Inve...

Photo: A haul truck being loaded with ore at the Ok Tedi mine. Ok Tedi Mining Limited (OTML) recently announced that a dividend of PGK300 Million will be paid to shareholders on or before 31 December 2022. OTML Chairman Dr Roger Higgins thanked employees, contract partners and mine impacted communities for their support throughout 2022. He added ...

The Government will be advertising the position of Chief Executive Officer (CEO) for the Special Economic Zones Authority in the new year, 2023. Minister for Trade and International Relations Richard Maru announced this last week. Minister Maru said the position will be advertised globally as the government wants the best to develop the Special Economi...

Minister for International Trade and Investment, Hon Richard Maru led a team of experts from the Japan Development Institute (JDI) as well as local consultants on a tour to visit East Sepik Province especially on all proposed agricultural hubs on Friday last week. The team of experts were given a helicopter tour of the province starting at Wewak, over ...

Photo: Ilimo Dairy Farm. Credit: LR Group There is a need to build two more dairy farms in the country since Papua New Guinea is still importing around K300 million worth of milk products into the country. Minister for International Trade Relations and Investment, Richard Maru said this when emphasizing on the need to bring in more investors into the c...

Photo credit: NEA The National Energy Authority (NEA) will soon establish a new office complex following their groundbreaking ceremony in Port Moresby last Friday. The new office complex will be built at the cost of K150 million through a partnership between the National Energy Authority and the Australia New Guinea Services. Present to officiate th...

Photo credit: RNZ Prime Minister Hon. James Marape has launched his government’s policy on coffee which includes a target of 2,500 trees per family that aims to return interest to one of Papua New Guinea’s leading commodities that once was the highest agriculture revenue earner in the country. The Prime Minister announced this in Banz, Jiwaka Provin...

Photo credit: Malum Nalu Oil Palm Industry Corporation is embarking on building and developing a 60,000 Oil Palm Seedling Nursery at Erap in the Markham Valley of the Morobe Province to supply seedlings to local smallholder growers in the Markham Valley and Ramu Valley. General Secretary for OPIC, Mr Kepson Pupita recently was at the Department of A...

Opposition Leader Joseph Lelang stated that the 2023 Budget has not done enough to cover the Papua New Guinea economy against unfavorable global developments. Mr Lelang said the opposition sees that much of these adverse external developments since 2019 has contributed to shortages in foreign exchange, forced businesses to fold or streamline their oper...

Photo: Pacific Towing’s ASD tug Waiowa (4,300 BHP and 57 Tonne BP) and her crew were responsible for deploying oil spill booms in the NMSA led National Oil Spill Response Exercise in Port Moresby’s Fairfax Harbour. Papua New Guinea is better equipped to respond to a major maritime incident resulting in a significant oil spill following a national oil s...

Photo: Mayur Resources Managing Director, Mr Paul Mulder. Credit: Mayur Resources Facebook Page Mayur Resources Limited and Santos Ventures Pty Ltd (Santos), a subsidiary of Santos Limited, have extended their exclusivity arrangements to jointly develop a portfolio of nature-based carbon offset projects in Papua New Guinea (Carbon Projects). Mayur h...

The opening remarks by President Mr Anthony Smaré, paved the way for strong discussions on bilateral trade, development of the PNG economy, riding off the back of PNG’s trading partners in Australia and the Asian region, as well as a push for more direct investment in the resource and renewable energy sector. A sector that is of growing importance as the ...

The Papua New Guinea Tourism Promotion Authority hosted its first Implementation Steering Committee Meeting for the recently launched Tourism Sector Development Plan 2022-2026 on the 29th June 2022, at the Lamana Hotel in Port Moresby. The Chief Executive Officer Mr. Eric Mossman Uvovo, chaired the inaugural meeting in the presence of 16 organisation r...

Tourism, Arts, and Culture Minister Isi Henry Leonard claims that the National Cultural Commission (NCC) cannot reasonably promote Papua New Guinea's tourism industry. “We have to work in partnership with provincial governments at the national level to develop the industry,” he added. Leonard stated that the government was, therefore, signing MOU wi...

Photo credit: Santos - Brett Darley PNG will continue to be a major focus of strategy as Santos works to decarbonize operations, according to the upstream chief of Santos. Santos president of Upstream Oil and Gas, Brett Darley, stated that Santos is still eager to keep that region as its primary investment priority. “More broadly as a company, Sa...

Photo: Sandeep Biswas According to the International Energy Agency, copper is essential for additional solar PV, wind, bioenergy, networks, electric vehicles (EVs), and battery storage in the field of clean energy solutions. According to Sandeep Biswas, managing director and chief executive officer of Newcrest Mining Limited, the International Energ...

The connect PNG program implemented by the government is said to be rejected by the people of Central Province. Governor for Central Province, Rufina Peter announced the issue and raised this concern in parliament last week. Governor Peter said the road project is essential but will have consequences faced by Central Province Communities such as land grab...

Photo credit: Papua New Guinea Forest Authority The Papua New Guinea Forest Authority (PNGFA) has increased their budget for the remainder the year to remove the economic barriers that have been preventing them from generating revenue. PNGFA Managing Director John Mosoro said the budget that is proposed is well over what they have received before. "...

Minister for International Trade Relations & Investment and Member for Yangoru-Saussia Hon Richard Maru aims to deliver a development package to his people in the District of Yangoru-Saussia in East Sepik Province that would take the district forward to the next level in the coming five years. He explained the outcomes and focus involved and includ...