Business Summit Promote PNG's Investment

The Business Advantage International and the Port Moresby Chamber of Commerce and Industry recently co-hosted the Papua New Guinea Advantage conference aimed at providing high-level insights into where current and future opportunities lie in the country.

The conference which was held in Brisbane Convention Centre, Australia also provided practical guidance from experienced business people on how to tackle the various challenges that as a developing economy, PNG poses to those doing business in the country.

Other speakers were from key government agencies including the Bank of Papua New Guinea and Investment Promotion Authority.

Investment Promotion Authority's Director for Business Investment and Export Promotion, Mr. Clarence Hoot, was one of the presenters and he highlighted the changes taking place in IPA due to the growing trend in investment and the current challenges of doing business in PNG.

He said the IPA was making legislative amendments to accommodate the online registry system that is to come onboard to increase investment opportunities and businesses in the country.

This involves the aim of the Authority to provide its services online.

This is a work in progress between the IPA and the World Bank.

The Online Registry will eventually allow wider access internationally and across the country and linkage with other government agencies such as the Internal Revenue Commission, Customs and overtime with the Immigration Services and /Labor Department.

The summit was hailed a success and attracted a great number of participants.