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Papua New Guinea to receive A$600m loan from Australia
Australia has approved a significant loan of A$600 million (K1.54 billion) to Papua New Guinea to address the country’s 2023 budget shortfall and support essential economic reforms. This financial assistance follows a previous A$750 million loan provided in 2022,...
Promising future for agribusiness investment in PNG
Papua New Guinea is witnessing a significant transformation in its agribusiness sector, driven by soaring global demand for its agricultural products and strategic initiatives to boost local production. Recent developments highlight the enormous potential for...
Pacific Infrastructure Opportunities Conference debuts in Fiji
In May 2024, the Pacific region witnessed a landmark event with the inaugural Pacific Infrastructure Business Opportunities Seminar held in Fiji. The event marked a significant step forward in fostering regional development, bringing together a diverse group of...
13th Australia Solomon Islands Business Forum announced
The Australia Pacific Islands Business Council and the Solomon Islands Chamber of Commerce and Industry have announced the 13th Australia Solomon Islands Business Forum. Hosted in Honiara between September 2-4, 2024, the event is poised to be a landmark event for...
Caleb Jarvis appointed General Manager, Pacific Trade Invest network
Pacific Trade Invest (PTI) Australia has announced the appointment of Caleb Jarvis as the General Manager of the global PTI network. After 12 years of exemplary service as the Trade Commissioner, Caleb’s new role will see him overseeing the operations of PTI offices...
Fiji Immigration introduces Priority Work Permit applications
According to a KPMG Fiji report dated 6 June, the Fiji Immigration Department (FID) has announced a new initiative aimed at streamlining the process for obtaining work permits. The introduction of priority work permit applications is expected to expedite the approval...
Sydney expo helps boost Fijian exports
Investment Fiji, in collaboration with the Fiji Consulate General & Trade Commission in Australia & New Zealand, provided a unique opportunity for eight Fijian companies to promote their products on an international stage at the Naturally Good Expo in Sydney....
Hall Contracting to build coastal protection system in the Marshalls
Australian company Hall Contracting has announced plans to implement a 1.81 km coastal protection system in the Republic of the Marshall Islands (RMI). Specialising in dredging, civil, and marine construction, Hall Contracting, a proud member of the Australia Pacific...
Correspondent Banking decline hampers Island economies, study finds
In recent years, the decline of Correspondent Banking Relationships (CBRs) in Pacific Island countries has emerged as a significant economic challenge, impacting everything from trade to remittances and financial inclusion. The phenomenon, commonly referred to as...
Tuvalu advances renewable energy with new solar farm
Tuvalu is making significant strides in its renewable energy sector, with new projects aimed at reducing reliance on imported fossil fuels and combating climate change. In May 2024, the government celebrated a major milestone with the completion of a substantial solar...
US announces initiatives to boost trade, finance in Pacific
The United States has intensified its economic engagement with Pacific Island nations, focusing on enhancing trade ties, economic development, and financial inclusion. In May 2024, several key initiatives were announced under the Pacific Partnerships for Prosperity,...
Economic stimulus through infrastructure spending in Cook Is
In a bold move to stimulate economic growth, the Cook Islands government announced an extensive infrastructure spending plan in May 2024, aimed at doubling the country’s GDP. This ambitious initiative also seeks to elevate the Cook Islands’ minimum wage to levels...
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