Foreign investment starting to return to Papua New Guinea, says IPA head

Welcome,

Foreign direct investment in Papua New Guinea is starting to return this year after a ‘huge slump’ over the previous two years, according to Clarence Hoot, Managing Director of the country’s Investment Promotion Authority.

In brief: New gas-fired power plant for Hela and other business stories

Welcome,

Plans for a new gas-fired power plant in Hela, Digicel rejects tower sharing, and the IPA signs a memorandum of understanding with the Immigration and Citizenship Authority. The business news you need today.

Five reasons you should attend the 2021 Papua New Guinea Investment Conference online

Welcome,

The three-day 2021 Business Advantage Papua New Guinea Investment Conference starts live-streaming at 9am on Tuesday 7 September. Andrew Wilkins, Publishing Director and conference host, Business Advantage International, outlines the reasons why this is the year to attend.

Forum hears of challenging business conditions in Papua New Guinea

Welcome,

The Australia–Papua New Guinea Business Council is holding its 36th business forum and trade expo this week in Brisbane. Business Advantage PNG reports from the event, which is both a physical and online event this year.

In brief: Prime Minister says deal for Porgera’s reopening imminent and other business stories

Welcome,

Prime Minister Marape says government is ‘poised to sign’ a deal to reopen the Porgera mine, World Bank to help PNG Power and OK Tedi Mining resumes operations.

‘There could not be a better time’ for Papua New Guinea’s new foreign investment laws

Welcome,

Now is the time to focus on restarting foreign investment in Papua New Guinea, says Clarence Hoot, Managing Director of the country’s Investment Promotion Authority. He tells Business Advantage PNG the IPA’s priorities for the year ahead, which include getting new foreign investment laws through Parliament.

Papua New Guinea attracts more enquiries from foreign investors despite COVID-19 crisis

Welcome,

The Investment Promotion Authority has released data on foreign investment trends in 2020 that show the sector of most interest was agriculture. Despite the impact of COVID-19 there was significant investor interest.

In brief: ADB approves K87 million telecommunications investment in Papua New Guinea and other business stories

Welcome,

The Asian Development Bank approves a multi-million kina investment in telecommunications in Papua New Guinea, Investment Promotion Authority looks to make doing business easier, and Fortescue Metal Group announces plans for hydropower projects in PNG. The business news you need to kickstart your week.

Foreign investment in Papua New Guinea falls as Minister flags new laws

Welcome,

Foreign direct investment into Papua New Guinea dropped in the first quarter of 2020, according to Investment Promotion Authority figures. Meanwhile, business expresses concern over proposed changes to PNG’s investment laws.

A review of Papua New Guinea’s proposed legislative reforms

Welcome,

Proposed legislative reforms related to foreign investment, land, and arbitration in Papua New Guinea.