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Indonesia, our closest neighbour, has efficiently navigated this path and is now a formidable participant on the worldwide stage. He revealed that two Indonesian firms have expressed interest in multi-billion kina rice and recycling projects in PNG, with proposals underneath evaluate for approval by the National Executive Council . “This marks the beginning of a model new era for PNG as we shift our commerce and funding focus to Indonesia,” Minister Maru concluded. The Bank of Papua New Guinea formally launched the Kina and Toea Exhibition, a show celebrating the nation’s rich financial historical past and the 50th anniversary of Papua New Guinea’s foreign money. This occasion, held as part of the Bank’s fiftieth anniversary celebrations, coincides with the upcoming 50th anniversary of PNG’s independence in 2025.

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“Our authorities has already declared its intention to pursue downstream processing, and we do not have to reinvent the wheel. Indonesia is correct next door, ready to share its expertise and offer support,” said Minister Maru. He continued, “For nearly 5 Business News decades, PNG’s engagement with Indonesia has largely focused on border and security talks, which have not resulted in improved border services, direct transport links, job creation, or significant trade between our nations.

The Kina and Toea Exhibition was launched on 29 August and continued from 30 August to six September 2024 at the National Museum & Art Gallery in Port Moresby. The exhibition supplied an opportunity to explore the fascinating history of PNG currency and its distinctive place within the nation’s growth. Displaying cultural richness and diversity, attendees were reminded of the importance of foreign money as a mirrored image of PNG identity, values, and traditions. The Assistant Governor of Corporate Affairs, Mr Ron Sikar, gave the opening speech and formally declared the exhibition open on behalf of the Governor of BPNG, Elizabeth Genia, in her absence. “It is an honour to stand earlier than you right now as we open the Kina and Toea Exhibition, a showcase of our nation’s rich and evolving financial history as part of the Bank’s fiftieth anniversary celebrations,” Governor Genia mentioned. She highlighted that the occasion is particularly important as it precedes the fiftieth anniversary of each the nation’s foreign money and the nation itself.

Consumer confidence, retail gross sales get well from Delta impact As the year-end holiday season approaches, the two indicators point to elevated household spending, which has lengthy been a key driver of economic activity within the country. Jakarta counts on non-public investors to increase MRT, LRT The city administration needs investors to develop three initiatives worth Rp eighty four.6 trillion (US$5.93 billion). Pollution, droughts, floods are taking their toll on our drinking water, lakes, rivers and coastlines. Join us on a journey around Europe to see why defending ecosystems matters, how our wastewater could be higher managed, and to find a variety of the greatest water solutions. Video reviews, an animated explainer collection and live debate – find out why Water Matters, from Euronews.