Strata titles are the start of a wide-ranging agenda of land reforms to help Papua New Guineans access the value of their land.
Latest news
The latest business news from Papua New Guinea and the region
Figures on visitor arrivals to Papua New Guinea indicate that business travel and tourism are growing but there has been a falling interest the MICE market. The number of people coming to PNG for employment increased markedly.
Wafi-Golpu Joint Venture partners receive ‘green light’ to engage in discussions with the State of Papua New Guinea, petroleum licences owe over K10 million and Gerehu to NiuPower gas plant transmission lines completed. The business news you need to kick-start your week.
A new World Bank report details a worsening of Papua New Guinea’s economic prospects and finances. It says that the country is ‘steadily’ losing foreign exchange.
The court deadlock over the Wafi-Golpu project has ended with the National Court in Lae throwing out the injunction relating to the Memorandum of Understanding (MOU) that had brought the project to a halt. It opens the door for a potential US$5.4 billion (K18 billion) investment into Papua New Guinea.
The World Bank predicts slower GDP growth for Papua New Guinea, P’nyang could still be on the table and fibre optic cable landing to start in Vanimo. The business news you need to kick-start your week.
The first phase of the Papua New Guinea Government’s new ‘State-in-a-Phone’ project aims to give citizens access to an online government information portal before the end of the year. There will also be benefits for business.
Papua New Guinea says no to P’nyang gas project, Prime Minister James Marape confident in ‘five-train LNG’ and new date for plastic bag ban. The business news you need to kick-start your week.
Papua New Guinea’s Prime Minister James Marape has announced the end of negotiations with ExxonMobil over the P’nyang gas agreement. The project’s developers have responded to his claims that there was ‘an unwillingness to agree to reasonable terms’.
As talks between ExxonMobil and Papua New Guinea’s State Negotiating Team over the P’nyang gas project reach their nominated ‘walk away’ deadline today, the Prime Minister, James Marape, has said he is confident that LNG will help underpin economic growth in the country for the next decade.