Minister for International Trade and Investment, Hon. Richard Maru met with his counterpart Minister, Hon. Chan-Yang Lee the Korean Minister for Trade, Industry and Energy on the margins of the inaugural PIC-Korea Leaders’ Summit in Seoul, Republic of Korea on May 30, 2023. Minister Maru was part of Prime Minister Marape’s delegation to the Inaugural Paci...

Steamships Limited recently took possession of Motukea North from Curtain Bros Limited. This is a significant milestone for Steamships in its plans to develop the 38-hectare site to the north-west of Motukea Wharf into Portside Business Park. Steamships Managing Director, Rupert Bray, said “We see the Portside Business Park precinct as the future indus...

Residents of Manu and it’s surrounds can now treat themselves to an ENZO’s Pizza. The latest addition to PNG’s favourite Pizza outlet is conveniently located at the recently reopened Puma Station on Taurama Road. ENZO’s Pizza Country Development Manager Sudeep Geethanandan said, “Our vision is to make ENZO’s more accessible to all Papua New Guineans. B...

Photo credit: Embassy of India, Port Moresby Inbasekar Sundaramurthi, the Indian High Commissioner, has revealed that the bilateral trade between Papua New Guinea (PNG) and India currently amounts to approximately US$350 million (equivalent to about K1.2 billion). Sundaramurthi further stated that in the previous year, India's exports to PNG reached ar...

Photo: Commissioner General Sam Koim of the Internal Revenue Commission In a recent speech at the National Press Club event, Commissioner General Sam Koim of the Internal Revenue Commission (IRC) highlighted the importance of Special Economic Zones (SEZs) in stimulating economic growth. However, he cautioned against hastily establishing SEZs throughout...

Contrary to recent news outlets, PNG Business News aims to shed light on PNG's ongoing tuberculosis (TB) crisis. In 2020, the global number of TB deaths rose for the first time in a decade, and the situation in PNG is particularly dire. With thirteen daily TB-related deaths, the impact on workforce health and productivity is significant, as TB cases and f...

The Marape-Rosso government will very soon announce “special incentives” to support loyal players in the manufacturing, agriculture, forestry and fisheries sectors focused on serious downstream processing in the country, Prime Minister Hon. James Marape has said. PM Marape announced this to members of Lae Chamber of Commerce & Industry on Thursday,...

Photo: Front row, from left: Palau President, Surangel Whipps Jr (in blue shirt holding PX aircraft model) and his delegation met with ANG A/CEO, Gary Seddon and his executives in Port Moresby recently. Acting Air Niugini Chief Executive Officer, Mr Gary Seddon and his executives met with Palau President, Surangel Whipps Jr in Port Moresby over the wee...

Photo: PNG Government Secures 60 Percent in Wafi-Golpu Mine Project, PM Marape announces The Papua New Guinea Government has finally settled on the total benefit sharing at over 60 per cent from the Wafi-Golpu project. Prime Minister James Marape, in addressing the Morobe Tutumang in Lae, said the total benefits sharing included taxes, equity, royal...

Papua New Guinea and Malaysian Governments need to do more to build government-to-government and people-to-people relations between the two countries, says the Minister for International Trade and Investment, Hon Richard Maru. Minister Maru said this during his bilateral meeting with the Malaysian Deputy Minister of Investment, Trade and Industry, His Exc...

Photo: Remington Group CEO, Peter Goodwin (L) and POMCCI Consultant Brian Riches (R). The Remington Group is proud to announce the launch of its ‘Loyal to Local’ campaign with the support of the Port Moresby Chamber of Commerce and Industry. The core objective of this campaign is to inspire and encourage both business communities and individuals to ...

Photo: Lihir Gold Mine. Photo Credit: Newcrest Mining Limited Website The recently announced acquisition deal between Newmont (NYSE: NEM, TSX NGT) and Newcrest Mining Limited (ASX, TSX, PNGX: NCM) on May 14, 2023, is set to have a significant impact on Papua New Guinea (PNG). The deal involves Newmont acquiring 100% of the issued shares in Newcrest by ...

The Central Provincial Government has facilitated yesterday (18th of May, 2023) at Crown Hotel with a cheque of K280,000 for their 4 districts including their 5083 wards to help improve its communities access basic infrastructure and services through the Rural Service Delivery Project.  The Rural Service Delivery Project is sanctioned and implemented b...

Photo: Central Governor Hon. Rufina Peter with representatives of various tertiary institutions holding on to their check payments A timely step has been taken by the Central Provincial Government to relief Central Tertiary Students for its 2023 tuition fees totally at the cost of K3, 456 050 presented to various Tertiary Institutions in the country on...

From mining camps, to health and education facilities, to retail and commercial fit outs, PNGFP’s NiuBuild provides complete project solutions throughout PNG and the South Pacific. In fact, you might be surprised to know that PNG Forest Products is the largest supplier of timber housing & infrastructure projects in the South Pacific. Having delivered ...

Prime Minister Hon. James Marape says the Defence Cooperation Agreement (DCA) between the United States of America and Papua New Guinea does not in any way encroach into the sovereignty of the country. And he has assured Papua New Guineans that all aspects of the DCA will be made available to the public through a Parliamentary Statement that he will ma...

Fishing Industry Association of PNG's Tuna Purse Seine Fishery rated the largest global tuna source of MSC-certified tuna The Fishing Industry Association of Papua New Guinea (FIA PNG) has once more gone beyond its expected boundaries to achieve another milestone for the fishing industry relating to the association’s purse seine fishing method. Purs...

Recently, the European Union Delegation in Papua New Guinea was delighted to have Prime Minister James Marape deliver a speech during the Europe Day reception on the 9th of May 2023 at the Lamana Hotel in Port Moresby. Ambassador Jacques Fradin, the Head of the EU Delegation to Papua New Guinea, stated in his speech: "Papua New Guinea continues to be a...

The advantages of having a second Liquefied Natural Gas (LNG) project in a country like Papua New Guinea is important and strategic in that the people are attached to the land, and they want to feel they are part of the extraction of resources and wealth -- and they can only do that through the development of their customary land. The focus has shifted...

Photo: Pacific Towing towed a replacement 250m oil transfer hose from Port Moresby to an offshore export terminal in the Gulf of Papua in February as part of the terminal’s scheduled routine maintenance.  Pacific Towing also towed the replaced transfer hose back to Port Moresby. Pacific Towing (PacTow) is increasingly performing ocean towages, includin...

Photo: Senator Tim Ayres. Credit: Senator Tim Ayres Facebook Page Australia Assistant Minister for Trade and Manufacturing, Senator Tim Ayres, addressed the 38th Australia PNG Business Forum and Trade Expo, highlighting Australia's focus on investing in roads, ports, and electricity in Papua New Guinea (PNG). He stressed the importance of reliable infr...

Photo: Professor Stephen Howes. Credit: Australia National University Papua New Guinea is grappling with a foreign exchange shortage, resulting in higher imports and lower exports, according to economist Professor Stephen Howes from the Australia National University (ANU) Development Policy Centre. Speaking at the 38th Australia-PNG Business Forum and ...

The Wan PNG platform has been moving from strength to strength over the last few weeks as it prepares for its official launch soon. After signing the Memorandum of Understanding between Papua LNG and Kumul Petroleum Holdings Limited, the platform has now been presented at a number of events such as the recently organised Port Moresby Chamber of Commerc...

Photo: The apprentices and OTML Training Centre Staff at the indenture signing Thirty-seven (37) new apprentices have joined Ok Tedi Mining Limited’s (OTML) Apprenticeship Training Program, bringing the total number of apprentices currently undergoing the program to 73. The first-year apprentices signed their Indenture Contracts with OTML and the Na...