Negotiating to upgrade roads, using aid for development, and refunds to domestic fishing companies. Your weekly digest of the latest business news.

The National Capital District Commission (NCDC) is reportedly negotiating with China Exim Bank for a loan to upgrade two roads into four lanes in Port Moresby, Governor Powes Parkop says.

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Speaking at the ground-breaking of the European Union-funded K4.5 million infrastructure project at the Morata Vocational Training Centre, First Counsellor of the EU delegation in PNG, Rudie Filon, noted that ‘PNG’s crime problem can be lessened if more young people are trained with specific skills and given fair opportunities in the workforce.’

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The Government has decided to give vessel day scheme (VDS) refunds to domestic fishing companies linked to onshore processing facilities. The Fisheries Industry Association (FIA) announced this on Monday when welcoming the Government’s decision to invest in infrastructure and support operational costs at processing facilities in the country.

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Papua New Guinea, Solomon Islands and Timor Leste are the countries in the Pacific region most in need of aid funding, New Zealand’s foreign ministry says. The New Zealand government recently increased its Overseas Development Assistance budget by US$488 million, lifting the total to US$1.5 billion over the current four-year funding cycle.

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Lead partners implementing coffee rehabilitation in various provinces have been reminded to use funds properly to service the growers and not themselves. ‘We have a task to deliver to coffee growers and not ourselves,’ said Potaisa Hombunaka, project manager of Coffee Industry Corporation’s Productive Partnerships in Agriculture Project.

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The PNG Resource Owners Federation has reportedly countered assertions made by the PNG Chamber of Mines and Petroleum that the fly-in-fly-out (FIFO) employee commuter-based system employed by mining and petroleum projects in PNG is economically ‘balanced’, compared with living on site. According to the Chamber, FIFO provides the best balance of shared benefits to communities throughout PNG.

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Logging in West Sepik. Source: Radio New Zealand

The West Sepik Governor, Tony Wouwou, is calling for his province to get a greater share of revenue from local logging operations, according to Radio New Zealand.

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Philippine Airlines will reportedly increase its flights between Port Moresby to Manila from three per week to four in September.

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PNG and Chinese Taipei will host the inaugural Digital Innovation Forum next week to spearhead talks on how technological advancements can be managed by businesses worldwide. It will be co-chaired by the APEC Business Advisory Councils (ABAC) of both countries and will run from July 19-21 in Chinese Taipei.

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Australian-owned or -affiliated companies in PNG will reportedly be scrutinised if reforms banning slavery are passed as law by the Australian Government. That is according to Trukai CEO and PNG business representative to the Bali Process, Greg Worthington-Eyre.

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Children on Bougainville. Source: AFP

Tourism is destined to play a bigger part in the Bougainville economy, its parliamentary speaker, Simon Pentanu, says. He reportedly said he was hoping the tourism industry could piggyback on growth already occurring in nearby East New Britain and New lreland.

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The new underwater telecommunication cable from Australia to Papua New Guinea and Solomon Islands, the Coral Sea Cable System project, was taken to the next step with the signing of an agreement between Prime Minister Peter O’Neil and his peers from Solomon Islands and Australia.

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Japan International Cooperation Agency (Jica) is committed to supporting key agencies in the current framework of the Mine Waste Management Policy, according to Jica’s Chief Representative Takashi Toyama.

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Photograph of the week

This past week Port Moresby hosted a visit from a Chinese navy hospital ship. The Daishan Dao, or Ark Peace, arrived in the country last Wednesday for a week-long stopover. According to information supplied by the Chinese Embasy, more than 5000 patients have had treatment from the floating hospital. Source: RNZ