Business

Business Link Pacific, a private sector development programme delivered by DT Global and funded by the New Zealand Ministry of Foreign Affairs and Trade, recently hosted an information session at the Butibam Resource Centre in the Ahi Rural LLG of Lae district.

The session was hosted in collaboration with the Internal Revenue Commission and consultancy accounting firm, Oracle Pacific Ltd, which is also an approved Business Link Pacific advisor.

During the 16^th Mining and Petroleum Conference, the former Foreign Minister spoke on ‘Why Australia should invest more in PNG’.

In a discussion panel held during the conference, Bishop had a dialogue with Minister for International Trade and Investment, Richard Maru on furthering investment in PNG by working together.

“Minister Maru and I have been speaking about this topic and we agree there should be more Australian investment in PNG, it’s just a question of how we do it,” she stated.

The newly released PTI Pacific Business Monitor – Recovery Series Q2 2022 report has found that 90 percent of businesses are confident that they will survive the COVID-19 crisis - the highest figure since tracking began.

Reduced consumption and market demand remains a challenge for businesses.

According to the Business Council of PNG Market Conditions Survey, business houses have seen a continuous improvement from the first and second quarter of 2020, , with 70 percent operating in the current market conditions.

Majority of businesses experienced a financial decline through to the end of 2020, citing Covid-19 restrictions as the major factor affecting business.

He said this during the 34th Australia-Papua New Guinea Business Forum and Trade Expo in Brisbane, Australia.

O’Neill said the Australia-PNG relationship is enduring and constant with Australia being the largest foreign investor in PNG underpinned by a strong bilateral trading relationship.

The Prime Minister said the economic fundamentals of PNG are sound, and that its carefully managed debt is a tool for economic management and future growth including through infrastructure development, with more than half the Government’s debt being domestic debt.

Andrew Tants, who runs Jiwaka Mission Resort with his family, says forging partnerships with key institutions can bring about change in the province.

Established in 2014, the resort has steadily grown with the Province out of an arrangement with the Lutheran Church, where Tants rents the land on which the resort sits.

NASFUND CEO, Ian Tarutia, paid respect to the late Governor General, Grand Chief Sir Michael Ogio, former Chief Secretary, Sir Manasupe Zurenuoc, radio personality, Roger Hau’ofa, as well as a close personal friend.

He said their passing were worthy of mention given their immense contribution to the country.

Tarutia also dedicated the conference to the late Hau’ofa adding that NASFUND was supporter of his “Talk-Back” program on FM 100.

The CEO said Roger was a strong advocate against corruption.

Members of the Australia-PNG Business Community, with support from the Australian Government and World Vision, launched the Businesses for Health: Tuberculosis or B4H:TB Project in Port Moresby.

Businesses 4Health: TB Project seeks support for the National Department of Health’s efforts to end the TB epidemic and reduce the high rates of drug resistant TB, particularly in the National Capital District (NCD). Around 20 percent (more than 6000 of the nearly 30,000) new TB infections in PNG were detected in NCD in 2015.

Chief Executive Officer Sarah Shelley when outlining the major improvement plans told Loop PNG via email that the chamber will ensure a collective stance of the wider businesses community is effectively communicated in the correct forum.

“A key goal of the GCCI for 2017 is to provide representation to key boards such as the Goroka Urban Authority, Provincial Suppliers and Tenders Board and the Goroka Building Board to ensure the collective stance of the wider businesses community is effectively communicated in the correct forum.”