Digging deeper: resources sector’s contribution undervalued in Papua New Guinea

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The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.

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

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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.

Reconsidering Porgera: Papua New Guinea’s industry bodies urge government to negotiate

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Papua New Guinea’s government is coming under intense pressure to renegotiate the Special Mining Lease for the Porgera gold mine, which it refused to extend in April. Multiple industry bodies have urged the government to urgently negotiate with the mine’s joint venture operators, Barrick Gold and Zijin Mining, pointing to extreme economic stress.

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.

In Brief: Concern about changes to investment laws and other business stories

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Business concern about Papua New Guinea’s new foreign investment laws, a new strategy to develop the financial sector and Oil Search CEO receives award. Your weekly digest of the latest business news.

People moves: PNG Air, Papua New Guinea Chamber of Commerce and Industry, Works Dept., Corrs Chambers Westgarth, NASFUND

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The CEO of PNG Air resigns, the President of the Papua New Guinea Chamber of Commerce and Industry quits, Works Secretary re-appointed, a promotion to Partner at a Corrs Chambers Westgarth, NASFUND appoints a brand ambassador

Papua New Guinea ‘low risk’ for foreign investors says head of Chamber of Commerce and Industry

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Papua New Guinea is a ‘low risk’ country for foreign investors, according to John Leahy, President of the Papua New Guinea Chamber of Commerce and Industry. But he tells Business Advantage PNG that it is important to prepare thoroughly in order to be a successful investor.

Join us in Sydney: Thomas, Pesce headline outstanding line-up for 2-in-1 investment conference

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We are really excited about the program we have put together for our first investment conference in two years, which includes two heavyweight keynote speakers plus an impressive cross-section of PNG and international business leaders.

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.

Total close to decision on cooperation with PNG LNG plant, says MD Blanchard

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The operator of the second Papua New Guinea LNG project says overcoming technical and environmental issues will determine if Total joins the existing PNG LNG trains. Managing Director, Philippe Blanchard, says a decision will be made within the next 5-6 months.