In brief: Prime Minister of Papua New Guinea reshuffles Cabinet and other business stories

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Papua New Guinea’s Cabinet gets a major reshuffle, the United States withdraws from the Paris Agreement, and over 5,000 companies in PNG could have been put on notice for not filling their annual returns. Your weekly digest of business news.

Opinion: five things the Marape Government can do to foster economic recovery in Papua New Guinea

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What can the Prime Minister and his team do to support a sustained recovery? ANU’s Stephen Howes offers his suggestions.

Investment Promotion Authority reveals guidelines for changes to foreign investment in Papua New Guinea

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Papua New Guinea’s foreign investment laws are under review, with the government trying to balance the interests of local businesses and foreign investors. David James looks at what is being proposed so far.

Papua New Guinea proposes foreign investment reforms

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Last month, the Papua New Guinea Government tabled the Foreign Investment Regulatory Authority Bill in Parliament. What is the bill designed to achieve and why is the business community concerned? Business Advantage PNG investigates.

Companies investing locally this year but will switch to starting up new operations next year, according to round table

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Companies are reducing the size of the businesses, now using excess capital to acquire domestically but may be switching to starting up operations next year. They were some of the observations in a round table discussion on Papua New Guinea’s investment environment at the Business Advantage Invest Forum in Brisbane.

Investment Promotion Authority figures show keen interest in forestry in Papua New Guinea

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Proposals for investment in Papua New Guinea’s forestry sector are almost as high as in its mining and petroleum sector, according to figures from the Investment Promotion Authority. The IPA has also flagged a crackdown on compliance.

In brief: New Lae power station being launched this week, and other business news

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Thermal power station launched this week, PNG DataCo and Telikom share fibre optics, Mainland Holdings expands wheat production. Your weekly digest of the latest business news. PNG Power’s Acting CEO Alex Oa says the new 30-megawatt thermal power station at Munum just outside Lae city in Morobe Province is expected to be commissioned this week. PPL is confident […]

IPA signals crack down on foreign ownership rorts in Papua New Guinea

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Concerns have arisen about the foreign ownership test in Papua New Guinea after the Investment Promotion Authority (IPA) published advertisements indicating it will be taking a close look at what is happening. Observers see it as a sign of a tougher stance from the regulator.

People moves: Bank of Papua New Guinea, Investment Promotion Authority, BOC, BSP

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A new Deputy Governor of Bank PNG, an acting Managing Director at the Investment Promotion Authority, a new regional Managing Director at BOC, Director resigns from BSP

Ten-fold growth in foreign companies investing in Papua New Guinea

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Figures presented by the Investment Promotion Authority at the PNG Advantage Investment Summit show a ten-fold increase in investment from foreign companies in Papua New Guinea over the past decade.