Papua New Guinea’s Prime Minister, Peter O’Neill, told the PNG Mining and Petroleum Conference yesterday that there would be no new taxes for the resources sector. Meanwhile, presentations by the major industry players suggest the next 12 months will be critical in determining the future growth of the sector.
Oil and gas prices are up and copper is also strong. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets comes to you from this week’s PNG Mining and Petroleum Conference in Port Moresby.
Prime Minister Peter O’Neill and his Agriculture Minister, Benny Allen, have promised to boost access to credit for agricultural projects, develop import substitution and strengthen agricultural institutions. They were addressing the country’s inaugural National Agriculture Summit in Port Moresby this week.
China deal to benefit Highlands provinces, call for restructure of agriculture department and quarantine authority, and Pacific Assurance Group goes into liquidation. Your weekly digest of the latest business news.
A new chair at Bougainville Copper, Westpac appoints a new Pacific Regional Head, a new Sales Manager for Air Niugini in the New Guinea Islands and a new chief migration officer appointed by the National Executive Council
The Prime Minister of Australia, Malcolm Turnbull and the Prime Minister of Papua New Guinea, Peter O’Neill have announced they will be working together to lay a new undersea high speed telecommunications cable from Australia to Port Moresby. The move is expected to contribute to closer economic integration between the two neighbouring countries.
Promotion for Bank South Pacific’s NCG Area Manager, Papua New Guinea representative at pageant selected
The Commissioner-General of the Internal Revenue Commission (IRC), Betty Palaso, has announced a temporary tax amnesty for business in Papua New Guinea. Penalties that would normally be imposed by the IRC on late lodgement of annual tax returns and late payments will not be applied for the rest of 2017.
Australia undermines Chinese bid to build undersea cables, gas-fired power project approved by NEC, and Frieda River gold project to start in 2019. Your weekly digest of the latest business news.
The National Central District has launched an urban development program, which will run into the middle of next year. Governor of Port Moresby, Powes Parkop, said he will be looking to upgrade Port Moresby’s settlements and explore ways to offer residents title.