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Category Archives: Papua New Guinea

Lae port in Papua New Guinea

Lae port is PNG’s largest, busiest, and most important port. It is a gateway linking world markets with PNG and a large hinterland containing 40% of PNG’s population and half of PNG’s economic capacity, including hydrocarbon and mineral resources. Lae port’s cargo throughput has increased by 7.8% annually since 2006. In 2011, the cargo through Lae port is estimated to reach 3.3 million revenue tons, stretching the port to the limit of its capacity.

Lae is now the main industrial hub of Papua New Guinea and have estimated population of 100,000 by 2018. The port is connected by Highland Highway which is the main land transport corridor between the highland region of Papua New Guinea and the coast.

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Port Moresby in Papua New Guinea

 

Port Moresby in Papua New Guinea

Port Moresby also known as Pom City- is the largest capital city of the Papua New Guinea. It is an important centre of trade due to its strategic location that faces out in to Gulf of Papua. Port Moresby population is estimated to be around 310,000 according to data generated from <worldpopulationreview.com> and has average population growth rate of 2% and its considered as one of the rising star in the South Pacific. The government had recently hosted The 26th APEC Economic Leaders’ Meeting 2018 in the APEC Haus that located on Ella Beach, Port Moresby. As a result, Papua New Guinea has gained great exposure from people all around the world.

In the recent years, the Government of PNG has proposed several building projects in order to further upgrade Port Moresby to attract more foreign investments as well as to create jobs opportunities to the local communities. A new dry dock facility is now in operation at Motukea to further facilitate the Port Moresby operation. Not only that, one of the project known as Star Mountain Plaza is 100% completed in October 2018 and it’s a mega projects that consists of world class convention centre for Papua New Guinea as well as luxury Hilton Hotel that used to host APEC gala dinner 2018. Besides that, one of the mega development project- PAGA Hill Estate is a high end estate plan located in the heart of Port Moresby. This Paga Hill Estate will be the focal point of Port Moresby due to its strategic location that situated on 13.7 hectares of elevated waterfront land in the heart of capital city.  Other projects included OPH Tower, Loloata Island.

More details information available on :

1)      https://www.peopleconnexion.com/news/2018-apec-update-the-6-building-projects-set-to-change-port-moresby/31403/

2)      http://worldpopulationreview.com/countries/papua-new-guinea-population/

3)      https://www.papuanewguinea.travel/apec-haus

4)      https://www.starmountainplaza.com/the-hilton

 

 

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Amendment of Custom Tariff Rate in Papua New Guinea 2018

 

There has been significant concerns raised by PNG manufacturers on the stiff competition coming from imported goods. Hence, the Government in an effort to support local manufacturers increased import tariffs on certain tariff items. This Bill is expected to reduce health related issues, enable local manufacturers to compete with foreign manufacturers, increase economic activities and create employment for the local.

These amendments have a significant impact on the import and export markets of PNG. Hence for people who intend to conduct business activities in Papua New Guinea is recommended to visit the official PNG government website.

Details information available :  http://www.treasury.gov.pg/html/national_budget/files/2018/Tax%20Bill/Customs%20Tariff%20(2018%20Budget)%20Bill%202017%20.pdf

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Papua New Guinea TOP 10 Exports Products

 

 

 

 

Papua New Guinea TOP 10 Exports Products

PNG is an Oceanian country situated immediately north of Australia, the Independent State of Papua New Guinea shipped US$10.5 billion worth of goods around the globe in 2017. Based on estimates from the Central Intelligence Agency’s World Factbook, Papua New Guinea’s exported goods plus services represent 47.6% of total Papua New Guinean economic output or Gross Domestic Product.

The top ten products that PNG exports consists of

1) Mineral fuels including oil: US$4.8 billion (45.5% of total exports)

2) Gems, precious metals: $2.1 billion (20.4%)

3) Ores, slag, ash: $914.3 million (8.7%)

4) Wood: $715.4 million (6.8%)

5) Animal/vegetable fats, oils, waxes: $652.5 million (6.2%)

6) Nickel: $363.4 million (3.5%)

7) Fish: $298.1 million (2.8%)

8) Coffee, tea, spices: $203.5 million (1.9%)

9) Meat/seafood preparations: $185.1 million (1.8%)

10) Cocoa: $82.1 million (0.8%)

These top ten exports products are highly concentrated which account for about 98.5% of the overall value of PNG global shipments.

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Madang Port in Papua New Guinea

Madang is a capital of Madang Province in the PNG with estimated population of 30,000. Madang Port is located at the north coast of PNG. Madang is viewed by many in PNG as a safer and friendlier city for foreigners as compare to Lae and Port Moresby. As a result, Madang have more expatriates working in the city and many NGO has located their offices in the city. The Madang Port is relatively small in size and it is able to accommodate vessel up to 500 feet in length. Pilotage is required when vessel entering the Madang Port.

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