economic development

ABG Minister for Police and CS, also Member for Tsitalato, John Bosco Ragu declared this during the Kute Limited Service Station opening in Buka. Minister Ragu emphasized the significance of robust investments, asserting that these initiatives are vital in ensuring financial stability for Bougainville.

In a commendation to businesses contributing to Bougainville's progress, Minister Ragu applauded the efforts of Islands Petroleum and Kute Ltd. He acknowledged their role in bolstering the region's economic landscape.

Acting President of the Autonomous Region of Bougainville, Patrick Nisira, made this announcement on May 2^nd.

Nisira, who is also the ABG Minister responsible for Commerce, Trade and Economic Development, explained that the 2001 Bougainville Peace Agreement (paragraph 79) speaks to this arrangement, and the announcement follows the Bougainville Government’s launch of the International Prong of its Independence Strategy launched in September 2022.

Bank South Pacific General Manager Retail, Paul Thornton, said this in a statement following the ransacking of a BSP ATM in Hagita, Milne Bay Province.

Thornton confirmed that the ATM’s safe was taken away by armed criminals, with two people seriously injured during the attack.

“We would like to pass our thoughts and prayers to those injured people, one of whom was an ambulance officer who was attending the scene to assist the first person shot during this criminal attack.

Minister for Tourism, Arts and Culture Tobias Kulang says tourism is becoming an economic driver globally and United Nations has recognised that and declared 2017 as the year of tourism.

Kulang stressed that in fact, globally, tourism contributes on average 10 percent to gross domestic product (GDP).

In some economies within the region like Fiji, tourism contributes 37 percent to the country’s GDP and 49 percent for Vanuatu.

Kulang said: “In PNG, we have real potential however, our tourism industry is under developed.