Department Of Commerce & Industry
Our Vission
To lead the promotion of sustainable economic growth through investment in our renewable resources and preserve the nation’s international trade competitiveness.
Our Mission
To create conducive economic environment through Public-Private-Partnership (PPP) to enhance value adding of our natural resources and services by formulating policy interventions to grow the national economy towards the attainment of Vision 2050.
Our Values
- Good Governance
- Strong Leadership & Leadership by good example
- Sound Policy Advice
- Team Work
- Innovation and Progress
Our Roles & Responsibilities
The core functions of the Department drawn from various Acts of Parliament, National Executive Council’s Decisions and Ministerial Determinations and Directions are outlined below:
Plan, research, formulate and coordinate policies and programs relevant to the development of commerce, industry and investment with a view to guiding PNG to diversify its economic base and tap into new markets for its local products.
Play a lead role in the coordination and approval processes of foreign direct investment (FDI) involving in major downstream processing and other industrial projects in the country.
Review and introduce appropriate policy options for facilitation of investment, commerce and industry development.
Facilitate expansion of a strong industrial base through an integrated manufacturing and marketing process.
Formulate and monitor appropriate policies to assist and/or mobilize local landowner groups to fully participate in spin off activities and related large commercial and industrial projects.
Provide advice and guidance to Provincial Administrations on trade, investment, industry and commerce in line with the Provincial and Local Level Government development priorities.
Support other line agencies to stablish Trade Missions in strategic locations around the world to: (i) promote and secure export markets for PNG’s origin tradable goods and services (ii) and lure Foreign Direct Investments into PNG.
Pursue policy options with other line agencies to improve PNGs trade advantage through international establishments such as Asia Pacific Economic Corporation, World Trade Organization, African Caribbean Pacific – European Union – trade and economic relation and other multilateral and bilateral trading arrangements.
Provide business and industry extension and support services to rural communities and industries
Ensure Government policies and programs charged and delegated to implementing agencies (Investment Promotion Authority, Small & Medium Enterprise Corporation, Industrial CentresDevelopment Corporation and National Institute of Standards and Industrial Technology) within the Ministry of Commerce and Industry are effectively implemented
The principal function of the Co-operative Societies Unit is:
1. To Effect the facilitation process and provide support services for the development of the Co-operative Societies movement in PNG, particularly the primary co-operatives to harness real development amongst the rural people.
2. Also to become the main driver for implementing and growing the MSME sector through cooperatives in PNG.
Foreign Direct Investments (FID) & Local Content
SME Entterprise Development unit within the Commerce Division of the Department deals with the development of PNG National Content Policy for the extractive sector to encourage national participation in economic impact projects with direct linkages to domestic supply-chains, goods and services, labor, and equity. More emphasis on landowner umbrella subsidiary companies and SMEs for business spin-off and contracts. Core Activities: Drafting the National Content Policy, supporting Government SME Agricultural Fund, the MSME Policy, Reserved Activity List (RAL).
Department & GovernmentNewsUpdates
Words & Video By Malum Nalu, Prime Minister's Media Unit.
Prime Minister Hon. James Marape on Friday, May 12, 2023, launched the landmark National Gold Bullion Policy 2023. It complements the Marape Government’s vision to fully industrialise the economy.
PM Marape launched the comprehensive policy in front of a fullhouse crowd in Port Moresby. PM Marape was accompanied by Acting Minister for Commerce and Industry, Hon. Soroi Eoe, whose department was responsible for drawing up the policy.
Here is PM Marape's address on video:
PM's Media: September 08, 2022
Prime Minister Hon. James Marape has welcomed foreign investors into Papua New Guinea, as he launched the K130 million Paga Hill Paradise project in Port Moresby today (September 8 2022).
He said the 22-storey luxury apartments project, besides Fairfax Harbour, was at the heart of the Special Economic Zone (SEZ) earmarked by Government in the National Capital District and would be completed over two years.
Present with PM Marape were NCD Governor Hon. Powes Parkop; Moresby North-East MP Hon. John Kaupa; Sarawak (Malaysia) Minister for Tourism Creative Industry and Performing Arts His Excellency Dato Sri Haji Abdul Karim Rahman Hamzah; Malaysian Ambassador His Excellency Mohamad Nasri Abdul Rahman; Chinese Embassy representative Jiliang Chen; developers of Paga Hill Paradise and members of the private sector.
PM Marape thanked the investors for having faith in Port Moresby and PNG by investing K130 million.
PM's speech in the video below:
Prime Minister's Media Unit: March 6, 2023
Prime Minister Hon. James Marape launched the Papua LNG Front End Engineering Design (FEED) Phase on Monday, March 6, 2023, at APEC Haus in Port Moresby. It was a momentous occasion which will be long remembered in the history of Papua New Guinea.
All that remains now is Final Investment Decision (FID) before construction starts on this US$10 billion (K35 billion) project.
Here is PM Marape's address: