IPA changes for 2016  Over the past 2 years, the IPA has been undergoing a significant process of reform with the aim of moving its functions wholly online. This process has also been in conjunction with amendments to the Companies Act which, among other matters, have introduced changes for compliance processes for entities that are operating in PNG. The Companies Act amendments have been passed and gazetted – but the implementation through the Registrar of

As Papua New Guinea’s business community continues to face foreign exchange shortages, ANZ Bank has called for a relaxation of the enforced trading band for the kina. Meanwhile, analysts say the kina is facing further downward pressure from the US dollar. Since the Bank of Papua New Guinea, the country’s central bank, restricted the trading range for the PNG kina and the US dollar in June 2014, ANZ analysts Glenn Maguire and Dan Wilson say

Satellite-enabled phone and data services have often been considered a technology of last resort, due to relatively high costs and quality constraints. However, Dutch company O3b is pioneering the next generation of cheaper, more reliable satellite communications in Papua New Guinea and the Pacific—good news for a region where getting connected can be a major challenge. Its title is straight out of a Star Wars movie–O3b—and it refers to ‘the other three billion people on

Papua New Guinea has the perfect climate for solar, and is the key to achieving an ambitious government plan to bring electricity to the 70 per cent of Papua New Guineans who currently don’t have access by 2030, according to Rick Hooper, Chief Executive Officer of Sydney-based solar company, Barefoot Power. Barefoot Power assists people in developing countries with access to affordable renewable energy–with the focus firstly on providing lighting. It has been operating in

The CEO of Telikom PNG predicts all Papua New Guinea will be able to connect to the Internet within two years. In a wide-ranging review of PNG’s telecommunications industry, Michael Donnelly canvasses lower prices, new investment, takeovers and the impact of competition policy. Within two years, 100 per cent of Papua New Guineans will have access to modern communications technologies, including the Internet, as a result of a concerted effort to ensure everyone has access

Forty years ago this week, Sean Dorney was one of the journalists on the spot for Papua New Guinea’s declaration of Independence. He covered it for the country’s National Broadcasting Commission and later spent 17 years in PNG as an ABC correspondent. He reflects on PNG’s journey as an independent nation. The flag-raising ceremony on Independence Hill, near the present-day PNG Parliament, on September 16, 1975, was slightly delayed because Imelda Marcos, wife of the

Woodside Petroleum and Oil Search confirmed yesterday that two of Australia’s oldest oil and gas companies have sat down for coffee to discuss a shared future, a move that could delay the Browse FLNG project further. Woodside has made a non-binding indicative proposal valued at around $11.65 billion to the Papua New Guinea-focused Oil Search for one Woodside share for every four Oil Search shares. Woodside’s confidential and non-binding proposal to merge through a scheme

After two years of research and hearings, the PNG Tax Review Committee is due to present its final report to Government next month. PricewaterhouseCoopers PNG’s Jason Ellis looks at the tax reform measures it is likely to recommend. The Committee is expected to recommend the reductions in tax rates be funded by an increase in the GST rate, introduction of a capital gains tax to broaden the tax base, and restrictions on tax concessions. The

Papua New Guinea’s APEC 2018 Coordination Authority is on track to deliver its budget for the 2018 event later this year, with interim CEO Christopher Hawkins saying it will highlight the opportunities the business sector can capitalise on. Businesses throughout Port Moresby can expect to find a wide range of opportunities in the lead-up to the Asia-Pacific Economic Cooperation (APEC) leaders’ summit over the next three years, according to the PNG APEC 2018 Coordination Authority.

Asian Development Bank analysis shows just how vulnerable Pacific nations are to natural disasters, but what can be done to better manage the risk? Wayne Dorgan from leading Papua New Guinea insurer Pacific MMI calls on disaster co-ordinators in the region to consult more closely with the insurance industry. The Asian Development Bank’s (ADB) July Pacific Economic Monitor highlights the Pacific region’s vulnerability to natural disasters, pointing out that initial estimates of Cyclone Pam’s impact

ANZ’s timely discussion paper, Powering PNG into the Asian Century, argues for further reform in Papua New Guinea’s electricity sector and a greater reliance on newer, cleaner energy technologies. Powering PNG into the Asian Century follows on from Bold Thinking, a 2013 PNG-focused report also compiled for ANZ by research firm Port Jackson Partners. This new report addresses an area of infrastructure which is widely viewed as critical for PNG’s future growth: energy, and more

Sustainability and value-adding are repeatedly stated as the goals for Papua New Guinea’s forestry sector. Ian Neubauer visits Bulolo in Morobe Province, an old gold-mining town that has re-invented itself with a sustainable timber industry. In 1932, the Bulolo Gold Dredging Company airlifted a 110- tonne dredge piece by piece from the port city of Lae to the Bulolo River Valley. The largest single part, the main tumbler shaft, was four-metres long and weighed more