Japan helps Papua New Guinea with a generous loan, the Internal Revenue Commission launches its annual work plan and Prime Minister Marape visits Jiwaka Province.
Latest news
The latest business news from Papua New Guinea and the region
The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
Departing PNG Power Chairman Peter Nupiri has called for less political interference in the state-owned utility and a ‘strong commitment’ from government for its reform.
President Ishmael Toroama says Bougainville is not ‘colluding’ with third parties to reopen Panguna, new project to increase regional and international trade in the Pacific, and potential date for the launch of ISEZ’s project program.
The Bank of Papua New Guinea has released its Quarterly Economic Bulletin for the March and June 2020 Quarters. It shows that the economy and government finances came under great pressure because of the COVID-19 lockdowns, but that the impact was uneven.
Kina Bank’s Chief Executive and Managing Director Greg Pawson is expecting to start the SME Capital Fund this year, which will offer PNG businesses a new way of raising money. He tells Business Advantage PNG it should help business expand.
K92 Mining sets example in the mining industry in Papua New Guinea, Australia commits funds to help PNG get COVID-19 vaccinations and latest survey on COVID-19’s impact on the business community.
A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.
Mining Minister is optimistic about Wafi-Golpu mining project, Police Commissioner must vacate office before the end of the month and Australia’s Seasonal Worker Program is back.
COVID-19 tests now mandatory for incoming flights to Australia, Digicel’s Pacific operations could be up for sale and K92 organises a visit to the Kainantu mine.