Use of automated systems boosts revenue in Tuvalu
Tuvalu has increased revenue by 20% after automating its customs management systems. Paperless customs procedures have really made it simpler for traders in Tuvalu, says Sania Teisini, Director of Tuvalu’s Revenue
Noni juice inching closer to exports
There is good news for noni exporters and producers across the region, with some progress towards having regional standards for fermented noni juice. Nonu (noni) is an important agricultural export in Samoa,
K2.3billion financial sector crucial: PNG Treasurer
The banking and financial sector accounts for K2.3 billion (US$653 million) of the national economy, according to Papua New Guinea Treasurer Ian Ling-Stuckey. Ling-Stuckey discussed the banking tax and the economy with
PNG’s Investment Promotion Authority to deregister firms
Papua New Guinea Investment Promotion Authority (IPA) expects the number of companies listed in its system to drop, due to its cleansing exercise, an official says. Managing director Clarence Hoot said those companies
PNG businesses struggle due to shortage of foreign currency
The shortage of foreign currency currently faced in the country is causing many Papua New Guinea business houses to see a decline in their sales and profit. City Pharmacy Ltd Group, one of the biggest retail businesses
CEO Alabaster exits Air Niugini
Papua New Guinea’s national airline company Air Niugini Limited’s chief executive officer Bruce Alabaster has stepped down from his position. Air Niugini chairman Sir Kostas Contantinou announced that Alabaster
Impressive results excite new BSP boss
New BSP Financial Group chief executive officer, Mark Robinson is impressed with steady results produced by BSP Group, not just for one year but for a longer period of time. He said the result does not only reflect a
Palau Senate bill eyes changes in labour law
The Palau Senate is eyeing amendments in the existing labour law to allow for a more “progressive labor workforce.” Senate Bill No. 11-82, which was on first reading and referred to a Senate Committee for further
Vanuatu regulates cultivation of cannabis and hemp
The regulations for the importation, cultivation, processing and export of medical cannabis and industrial hemp in Vanuatu were officially signed Wednesday. A person or business wanting to legally cultivate cannabis and
Improve PNG trade standards: Minister Maru
More effort and focus need to be put into improving standards and requirements for PNG products to be sold on international markets, says International Trade and Investment Minister Richard Maru. Maru was comparing
PNG population outgrows job market: Barker
Papua New Guinea’s population has outgrown the number of jobs in the formal employment space, according to the country’s Institute of National Affairs (INA) executive director, Paul Barker. Barker said the
Pacific Islands Economic Outlook 2023
After two long years of COVID-19 and the tourniquet it applied to the lifeblood of Pacific economies— connectivity and tourism — what can our region expect in 2023? The United Nations predicts the global economy
Whipps responds to concerns over Chinese interests
Palau’s President Surangel Whipps Jr has responded to an investigative report that has revealed activity in Palau by “organised criminals with links to the Chinese Communist Party”, by stating that there is
Superfunds to host investment forum in PNG
Nasfund and Nambawan Super will be co-hosting the Pacific Island Investment Forum on behalf of the PNG Superannuation Industry in Port Moresby from 27-31 March, 2023. The Pacific Islands Investment Forum (PIIF) is an
Cook Islands tourists stranded as backlog of flights continues
A backlog of flights is likely to remain for at least another week in Rarotonga, as the Auckland floods disrupt travel plans for thousands of visitors, with some people having to rebook for the end of the week. Cook
Fiji’s economic growth steady
Fiji’s economic recovery continues despite projections from the International Monetary Fund that 2023 will be a tough year. Governor and Chairman of the Reserve Bank of Fiji Board, Ariff Ali, stated that the growth is
Genia is Bank of PNG’s new acting governor
The Government of PNG has appointed Elizabeth Genia as new acting Governor for the Bank of Papua New Guinea. Treasurer Ian Ling-Stuckey said Genia has nearly four decades of experience working in PNG’s Central Bank
Cabinet approves establishment of Samoa Export Authority
Samoa’s Cabinet has approved the establishment of the Samoa Export Authority (SEA). This was confirmed by the Deputy Prime Minister Tuala Tevaga Iosefo Ponifasio. He said export development was one of the
PNG MP lauds Australia commitment
Minister for International Trade and Investment, Richard Maru has welcomed the Australian Government’s commitment to work with Papua New Guinea on the development of Special Economic Zones (SEZs). Maru in his meeting
Cook Islands tourism industry faces spectre of fewer visitors
Cook Islands Tourism operators are preparing for a quiet few months, as visitor numbers drop as predicted. In November there were 10,278 visitors to the Cook Islands, a drop of about 24 per cent compared to October
Palau businesses likely to participate in military tourism
For the first time, the U.S. MWR (Military Morale Welfare & Recreational Centre) has reached out to Palau businesses to discuss opportunities to participate in military tourism. The Joint Region Marianas Warfighter
Samoa in cartel competition discussions
Samoan competition law enforcement officials will be among others from across the Pacific in Auckland with support from the Pacific Private Sector Development Initiative (PSDI) for a roundtable discussion ahead of the
Fiji marks first Corporate Bond Offer under new regulations
Fijian Holdings Limited (FHL) last week opened a Wholesale Corporate Bond offer of F$30 million, stating it marks a major step forward in efforts to diversify the nation’s financial market. It is the first bond offer
