Investors from foreign countries who want to invest in Papua New Guinea (PNG) must first consult the Investment Promotion Authority (IPA) according to IPA boss Ivan Pomelau.
“Foreign investors who are new to Papua New Guinea are encouraged to contact the Investment Promotion Authority in the first instances about matters relating to business procedures” Mr Pomelau says
The IPA of PNG is a statutory organization, established by an Act of Parliament 1n 1992 to promote and facilitate investment in PNG.
“It does this through various programs including the established and maintenance of a company or business registry, certification or foreign enterprise, and promotion of investment opportunities in PNG, identification of markets for PNG exports and dissemination of investor-related information about PNG” Pomelau says.
IPA is managed by a board of directors on which the business community is well represented according to IPA Inforpack.