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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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

Welcome,

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.

In brief: new Bougainville Mining Act creates ‘uncertainty’ over Bougainville Copper’s rights, and other business stories

Welcome,

Bougainville Copper to seek formal acknowledgment of Bougainville mining rights, Post PNG pays first dividend, and low-cost ‘squatter’ housing project in Fiji. Your weekly digest of the latest business news.

In brief: Papua New Guinea Treasurer says banks’ kina trading range too high and other stories

Welcome,

Banks trading ‘well and above’ preferred kina rate, minister wants business contracts under K10 million to be reserved for Papua New Guineans, and Bakani says reserves will last seven months. Your weekly digest of the latest business news.