Steamships to open first Marriott-branded property in Papua New Guinea, exports of mud crabs to Singapore, and temporary disruptions at Lae port. Your business news in a nutshell.

Opening the tourist information booth at Jackson’s International Airport. Witnessing the ribbon cutting ceremony are Rex Kiponge, Managing Director at NAC; Eric Mossman Uvov, CEO at Papua New Guinea Tourism Promotion Authority (PNGTPA); Villimoni Caucau, COO at NAC; Alice Tamur, Qantas Jacksons International Airport TPA Board Member; Captain Andui Koralyo; Simon Pitt, Chief Commercial Officer at PNG Air, Alice Kuaningi, Marketing Director at PNGTPA, and Joel Keimelo, PNGTPA’s Senior Marketing Officer. Credit: PNG Tourist Promotion Authority

Agribusiness

Trukai Industries and the PNG University of Technology have signed an agreement to offer rice farmers the opportunity to receive a formal accredited certification through the Smart Farmer Program. This program has the potential to help farmers transition from sustainable to commercial rice farming. (Post-Courier)

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Mining and petroleum, dairy farming, coffee, cocoa and rice are priority investment areas in the next five to 15 years, Richard Maru, Minister for International Trade and Investment, told potential European investors in Port Moresby.

‘The next 15 years would be the great opportunity for investment not only for the mining and petroleum space but in agriculture commodity.

‘We do no longer want to import rice from Australia nor do we want to import dairy milk from Australia.’ (Post-Courier)

Finance

The Bank of PNG has released its March 2022 Quarterly Economic Bulletin. You can read it here.

Ports

The International Container Terminal Services Inc (ICTSI) is preparing for the arrival of two ship-to-shore cranes in Lae. The Lae Tidal Basin will close for 26 days in November, once the STS cranes arrive from China.

‘Import storage clock will run as usual while delivery of import containers will be through LTB gates only while break-bulk and trans-shipment cargo will remain in LMW,’ said South Pacific International Container Terminal General Manager, George Gware.

‘We understand the congestion on load that will be experienced but we are confident to manage it and are in close consultation with PNG Ports Corporation Limited.’ (Post- Courier)

Tourism

A tourist information booth is now open at the Port Moresby Jackson Airport International Terminal.

‘With the help of our partners such as NAC (National Airports Corporation) and PNG Air and others, we will look at opening similar booths in other airports as well,’ said Eric Mossman, Chief Executive Officer of the PNG Tourism Promotion Authority. (PNGTPA)

Real estate

Steamships Trading Company continues to work on the Harbourside South Project, which will include the first Marriott Executive Apartments property in PNG next year. (NEC)

Fisheries

The nationally-owned company Zavath Seafoods Limited is set to export 200 kilograms of mud crabs to Singapore. Zavath has established an office in Singapore to store, repackage and sell fish products to other Asian markets. (Post-Courier)