Foreword
by Ces Iewago, Managing Partner
Welcome to the January 2025 edition of KPMG PNG Kundu. This month, we highlight the top ten geopolitical risks for 2025, as forecasted by Eurasia Group, KPMG’s global alliance partner. These risks include the absence of a dominant global leader, Donald Trump's second term as US President, and the ongoing US-China tensions.
We also discuss the implications of these geopolitical shifts on Papua New Guinea particularly the impacts of recent US policy changes, such as the withdrawal from the Paris Agreement and the pause on US aid disbursements.
Additionally, we provide updates on the new work permit and visa process introduced by the Immigration & Citizenship Services Authority and on the tax clearance threshold increase.
We hope you find this edition insightful and informative.
In January each year, Eurasia Group, KPMG’s global alliance partner, publishes its Top Risks report which forecasts the top ten geopolitical risks for the year ahead. We have summarised these risks below. For those who may be interested it is worth taking a look at last year’s predictions and see how they compared to the reality of 2024.
Recent years have seen closer relations between the US and Papua New Guinea as it vies with China for diplomatic and military influence in the region. Against this backdrop, it will be interesting to see how Trump’s presidency will impact PNG. Within hours of his inauguration, President Trump was already making his mark with sweeping changes to previous policy priorities.
The Immigration & Citizenship Services Authority (ICSA) launched a new portal last year which allows for new work permit and employment visa applications to be done on-line. Both paper and email-based applications for new work permit and employment visas have been ceased. The aim of the portal is to streamline and expedite the process.
While the increase in the tax clearance threshold from PGK500,000 to PGK1.5m as announced in the National Budget was much welcomed, things are not always straightforward in PNG.
KPMG Kundu newsletter series
Learn about key regulatory and geopolitical issues affecting the business entities in the PNG region.
- KPMG Kundu – December 2024 (PDF 450KB)
- KPMG Kundu – November 2024 (PDF 450KB)
- KPMG Kundu – October 2024 (PDF 450KB)
- KPMG Kundu – September 2024(PDF 316KB)
- KPMG Kundu – July 2024(PDF 380KB)
- KPMG Kundu – June 2024(PDF 398KB)
- KPMG Kundu – May 2024 (PDF 300KB)
- KPMG Kundu – April 2024(PDF 216KB)
- KPMG Kundu – March 2024(PDF 394KB)
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