PNG Ports announces a K1.1 billion partnership with Australia for maritime infrastructure, Geopacific Resources gets funding for Woodlark Island gold mine and new training program for SMEs. The business news in brief.

Prime Minister Marape arrives in Enga Province to continue post-referendum talks with Bougainville’s President Toroama. Credit: NBC News

SMEs

The SME Corporation has launched its nationwide Trainers of Trainers (TOT) program. It was developed to help business development officers, district development authorities and local level government’s officers, among others, gain business development competencies that can then be shared to empower and upskill PNG’s SME sector. The TOT program will commence its rollout in New Guinea Island regions and then move onto the Highlands, Mamose and Southern regions. The program will end in October. (Post-Courier)

Mining

Geopacific Resources Ltd has secured K252.5 million for its gold and silver mine on Woodlark Island, Milne Bay Province. (Geopacific Resources)

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The 12 Ok Tedi Mine villages have received a K19.4 million payment for 2020 dividends. The trust company Mineral Resource Star Mountain Ltd made the payment last week. (Post-Courier)

Aviation

Pacific Ministers responsible for civil aviation and other senior official from 14 Pacific Islands, including PNG, met in Port Moresby and online to discuss a new collaboration framework for the aviation industry.

The talks resulted in the Port Moresby Declaration on Aviation Safety and Security, a document responding to the current challenges regarding aviation safety and the issues brought upon by the COVID-19 pandemic. During the meeting, the Framework for Aviation in the Pacific was endorsed, opening collaboration through the ‘development of the 10-year Pacific Regional Aviation Strategy‘.

The Secretary General of the Pacific Islands Forum Secretariat, Henry Puna, said: ‘We need to shift our thinking and our approach from ‘business as usual’ and start to explore new and innovative approaches to create a more safe, secure and sustainable aviation sector for our region; and one which promotes the spirit of the Blue Pacific while respecting national jurisdictions and development aspirations.’ (Pacific Aviation Safety Office)

Bougainville

Bougainville’s President Ishamael Toroama and Prime Minister Marape are in Enga Province to continue the Joint Supervisory Body and Joint Consultation talks between PNG’s National Government and the Autonomous Region of Bougainville. Both are set to discuss, among other things, the proposed timeframe for Bougainville’s independence. (NBC News PNG)

National

Credit: Office of the Prime Minister & NEC

During the 9^th Pacific Alliance Leaders Meeting, Prime Minister Marape called Japan, Australia and New Zealand to open an ‘economic bubble’ with the Pacific nations. He said: ‘Speaking on behalf of my 14 other sister nations in the Pacific, especially those who are dependent on tourism or external trade, dependent on fisheries, agriculture and the export of our raw resources, who are totally exposed to the ravages and the damage COVID-19 is causing to our local economies, so we need international trading and commerce for our economies to function.’ (Department of Prime Minister & NEC)

Ports

Last week, Australia and PNG have signed a Memorandum of Understanding outlining cooperation between both nations to ‘strengthen its maritime infrastructure’. The K1.1 billion program has the potential to facilitate trade and support PNG’s economic development. The Australian High Commissioner to PNG, Jon Philp, said: ‘The 30 Years Port Infrastructure Master Plan provides an excellent opportunity and platform through which Australia can help support infrastructure development aspirations of PNG.’ (PNG Ports)