For investors looking to do business in Papua New Guinea, a key understanding of the various regulations are crucial in informing their business decisions. With this in mind, PNG’s flagship investment promotion event, the 2024 PNG Investment Week has opted to commence its proceedings with a Regulators Forum.
To take place on Day 1 of PNG Investment Week – Sunday December 8th 2024 – at the Sydney International Convention Centre, The PNG Regulators Forum will feature presentations from all key State Agencies, beginning with the Investment Promotion Authority.
According to President of PNG Chamber of Resources & Energy (PNG CORE), Anthony Smaré, this decision to have the regulators open PNG Investment Week was strategic, given the need for investors to be aware of regulatory requirements at the outset to provide confidence and assurance for them as they explore investment and trade with PNG.
“The PNG Regulators Forum will begin with the PNG Investment Promotion Authority (IPA) providing an overview of the requirements to for business registration in PNG. The IPA will also provide an overview of the various sectors of business in PNG that have seen growth in recent years.”
“The Internal Revenue Commission of PNG (IRC) will present on the tax registration, compliance and incentives for businesses that want to invest in PNG – this will be crucial given the event will be held immediately after the 2025 national budget is passed.”
“PNG Customs Services will provide an overview of the import and export guidelines, whilst the Independent Consumer Competition Commission (ICCC) will provide an overview of rules around business mergers and acquisitions in PNG, which is critical information for potential investors into PNG.”
“Furthermore, the regulators from mining (Mineral Resources Authority, and Department of Mineral Policy & Geohazard Management), petroleum (Department of Petroleum), energy (National Energy Authority), and environment (Conservational and Environment Protection Authority) will also present on their respective requirements for doing business in PNG, with a specific focus on each sector.”
“For the first time, the event will also feature presentations from the Department of Information and Communications Technology (DICT), National Fisheries Authority (NFA), PNG Tourism Promotion Authority (TPA), and PNG Forest Authority (PNGFA), who will speak on regulations within their respective sectors.”
“The PNG Regulators Forum represents the key state agencies from across a cross-section of PNG’s economy and is a must-attend event for those that are serious in learning more about the dynamic opportunities that exist in PNG and provides an opportunity tea hear first-hand from the entities that are directly involved in regulating these sectors. We appreciate the support of the Chief Secretary Ambassador Ivan Pomaleu, Deputy Secretary Frank Aisi and the rest of the team at the Prime Minister’s Department for helping us put the Regulators Forum together with such strong participation from our regulators” said Mr Smaré.
Delegate registration is still open, and is available at www.pnginvestmentweek.com.pg