InvestPNG
Newsletter

Business News

February, Issue #02

Investment Opportunities

Updates from the IPA,

MD’s INBOX

CLARENCE M HOOTManaging Director
Dear Readers,
Welcome to our new look and rebranded - Invest PNG Newsletter.
This year the Investment Promotion
Authority as the investment flagshipof the country is going on a campaign
to boost investor confidence andpromote Papua New Guinea as a preferred investment destination.
In line with the campaign we have rebranded the newsletter from the old“Opportunity” newsletter to now
Invest PNG newsletter.

NEWS

Look out for the new section called“You said it – Emu Hereva”. This section consists of clients’ feedback on
our services. Emu hereva in the Motuan language means “your say”. As wecontinue to promote investment in
the country, the new section with thelocal splash is a tribute to the local Motuans who are the original owners of
the land which houses Port Moresby,
the capital of PNG.
We began the campaign with the reception of a 50-business delegationteam from Japan which culminatedin the PNG-Japan Public Private Joint
Economic Seminar and Business Forum in Port Moresby. Read more about
this in our inside stories.
We will also be rolling out other activities as part of our campaign so keep
watching this space for more updates.
We also invite you to join us as we
promote PNG together. If you have
any testimonies you’d like to share asa business in PNG, kindly share yourstory with my team and they can workwith you in putting your story together.

For those of us in the public sector,
first quarter is progressing, and here
at the IPA we are now in the process ofreporting to our Board on work we’ve
done so far.
As we continue on towards the second
quarter of the year, we anticipate work
to be in full swing after re-strategizing
our plans following the turn of events
earlier this year which have impacted
greatly on our economy.
We will closely keep you updated on
our plans as the year continues to unfold.
I hope you like our new look newsletter and I wish you all well in your business endeavours.
Thank you,
Clarence M HootInvest PNG newsletter

Japanese business delegation visits PNG to
explore business opportunities
A delegation of 50 Japanese were in the
country to explore business opportunities in the sectors of energy, infrastructure, tourism and agriculture.
The mission was coordinated by the
Pacific Island Centre in Tokyo and thePapua New Guinea Investment Promotion Authority.
Papua New Guinea continues toattract investors into the country because of its diverse natural resources despite recent
turn of unfortunate events
which are common in anywhere in the world.
The visit by the Japanese
investors was one of the many
programs the IPA has been
INVESTMENT PROMOTION AUTHORITY | Page 1

Continue on to next page..........

NEWS

Invest PNG newsletter

continued from previous page........

working on since last year tobring Foreign Direct Investment into
the country.
The visit involved a one-day joint
public-private business forum at the
Stanley hotel on February 28th andbusiness-to-business meetings on
February 29th.
“We hosted this forum to show
to the rest of the world that PNG
remains open for business despite
the perceived political and economic uncertainties exacerbated by theforeign currency exchange issues
and the volatile law and order situation in the country. We want torebuild investors’ confidence anddemonstrate that PNG is still open
for business’’, said Mr. Hoot.
One of IPA’s key programs over
the years has been to facilitate investments in the country while atthe same time promoting PNG as an
attractive country given its natural
resource endowments and diverse
industry potentials. However, a key
setback continues to be the law andorder concerns. Even though suchproblems are common throughout
the world, and occur just occasionally, security is one of the costs that investors unfortunately have to incuras part of their operational costs toensure that their businesses are protected and secured.

The main objective of the forum
was to strengthen cooperation in theareas of trade, investment, and tourism between PNG and Japan throughpossible matchmaking discussions on(Business to Business) B2B, (Business toGovernment) B2G as well as (Government to Government) G2G by studying and establish the needs of local
companies in PNG.
The overall theme of the mission
was: Co-creation by the Japanese and
PNG private sectors for a balanced promotion of various industries that contribute to sustainable economic development in PNG.
The forum also provided a platform
for discussions on cultivating distinctive agricultural products and building
resilient supply chains to increase profitability and revitalize local communi-ties.
In tourism, the focus was on fostering a sustainable tourism industry inharmony with preserving the rich biodiversity and culture of PNG.
Businesses also had the opportunity to share information and experiences in both countries on the use ofresources and modern technologies indeveloping industries.
In delivering the event, Mr. Hootgave his confidence to other relevant
heads of government agencies involved in promoting PNG, saying that
although challenging situations may
arise, the people and the companies
operating in the country have become
resilient and continued to recover, rebuild and diversify doing business inPapua New Guinea.

Minister Daki happy with the visit by Japanese investors

Hon. Win Bakri Daki,
Minister for Commerce & Industry
expressing satisfaction during the
PNG-Japan Business Forum.

Minister for Commerce & Industry, Win Bakri Dakithrough the Papua New Guinea Investment Promotion
Authority (IPA) has praised the 50- member delegationfrom Japan who were recently in the country seeking
business and investment opportunities.
Minister Daki told the investors that even though
PNG has been hitting the media for the wrong reasons,these issues did not deter the plans and intentions of thebusiness delegation to come to PNG.
“We are honored and humbled to have you with us
during our challenging times. Your visit signals a great
message to the outside world that PNG’s problems are
not unique to what’s happening around the world and it
adds to our endeavor to rebuild investors’ confidence anddemonstrate that PNG is still open for business.” Minister
said.

He was pleased with the discussions held during theforum, and as Minister responsible for Commerce and Industry, he said he was confident that the B2B, B2G and
G2G discussions would be beneficial for both the Japanese and PNG side.
“I will be working with my Ministry after this forum toensure that there is continued dialogue to maintain tradeand bilateral arrangements between PNG and Japan.
I will also use this forum to propose to the Prime Minister of Papua New Guinea, Honorable James Marape, fora business delegation to accompany him to Japan when
he attends the Pacific Islands Leaders Meeting (PALM) later this year. This is the commitment I intend to take up
as the Minister responsible for Commerce and Industry inPapua New Guinea.”

INVESTMENT PROMOTION AUTHORITY | Page 2

NEWSInvest PNG newsletter

IPA Board Chairman acknowledges Japanese relationship with PNG
Chairman of the PNG Investment Promotion Authority Mr. Leon
Buskens told a forum by Japaneseand PNG businesses that PNG is always thankful and appreciative of
the business community including
investors from Japan who continue
to have confidence to do businessdespite PNG’s internal challenges.

IPA Board Chairman, Leon Buskens.

In his official welcome
remarks at the PNG-Japan
Public Private Joint Economic Seminar and Business Forum, Mr. Buskens
told the 50 business delegation that Papua New
Guinea and Japan continued to maintain and val-ue their shared history ofgood friendship at bilaterallevel in terms of development cooperation, business, trade and investment.

"We have credible businesses capable to enter into joint venture"
PNG has more to offer in terms ofinvestment in agriculture, fisheries,
tourism, manufacturing, services, realestate, construction amongst others.
To complement that, Chairman of
the Papua New Guinea Investment
Promotion Authority Mr. Leon Buskens
told the recent visiting Japanese delegation to PNG that there were capable
PNG businesses in those sectors whomthey could be considered for joint venture partnerships.
Mr. Buskens was speaking at the
opening of the PNG-Japan Public Pri-

vate Joint Economic Seminar andBusiness Forum organised by the PNG
Investment Promotion Authority and
the Pacific Islands Centre office in Tokyo.
The Japanese business delegation
had investment interests in the areasof tourism and hospitality, commodity trading, renewable energy, forestry,coffee, technology/drones/AI, orchids
and vanilla.
“IPA PNG and PIC Japan maintains
good collaborative engagements over
the years promoting business, tradeand investment between our two
countries. The aim of this joint economic seminar and business forum isto these cooperation at business togovernment and business to businessengagements, “Mr. Buskens said.
Mr. Buskens said despite the country’s challenges, PNG remained resilient and an attractive investment destination for investors within the Asia
Pacific region and as far as Europe andAmerica.

NICTA certifies starlink

Licensing of Starlink system and services
I am happy to announce that on
Monday, 18 December 2023 the National Information and Communications Technology Authority (NICTA)
Board in exercising its powers under
the National Information and Communications Authority Act 2009 hasformally determined to grant operator license to a StarLink incorporated
agent In Papua New Guinea.
The decision followed a public
consultation on the matter conducted by NICTA. The licensing authorizes
StarLink to establish, maintain andoperate its satellite network and toprovide StarLink services to and fromPNG subject to License Terms andConditions and lawful directions of

NICTA, and all applicable laws, regulations, rules, and Ordinances of Papua
New Guinea.
This is a critical and timely regulatory decision and intervention as the
StarLink system and services has significant potential to bring broadband
telecommunication services particularly to rural and remote areas of PNG.
From a policy perspective the decision will facilitate, expedite, accelerate, and intensify rollout of broadband services particularly Internet
Services to PNG consistent with the
Universal Access and Digital Transformation Policy of the Government.
Many areas of PNG particularly rural and remote areas face Issues with

Internet access, due to geographicaland infrastructure challenges.
I am confident that this decision
will further promote competition andcontribute the Government's longstanding policy goals for universal
access through affordable, accessible
and availability of modern telecommunications and ICT services to all
citizens and provides an opportunity
for digital transformation of PNG. The
approved license will commence on
1st January 2024.
Press release by HON. TIMOTHY MASIU,
MP, Minister for Information andCommunications Technology

INVESTMENT PROMOTION AUTHORITY | Page 3

Tips & Traps

Invest PNG newsletter

WHAT HAPPENS AFTER RE-REGISTRATION
If your company’s status is showing as REMOVED,
it means your company has now been removed
from the IPA’s company registry for failing to reregister.

The call for re-registration ofcompanies came into being after
IPA introduced a new online registrysystem in December 2022.
All entities including businessnames, companies, business groups,
Associations and Foreign Enterprises
were requested to re-register or
update their entity status in orderfor their entity’s details to be carriedforward into the new upgradedsystem.
But for companies, the IPA gave agrace period, effective from the 1stof December 2022 to the 30th ofNovember 2023 to come forward andre-register free of charge.
During the re-registration, companies
that have outstanding annual returns
were to pay, a one-off fee of K500
regardless of the number of yearsof outstanding Annual Returns.
Companies who fail to comply havenow been removed from the Registry
after the 30th of November,2023.
A company with the status showing
as “Removed” can be reinstated but at
cost.

L EGAL
UP-DATEBusiness Groups Incorporation Act
The Business Group Act 1974 is also another old piece oflegislation which was recently reviewed and amendments
were passed by Parliament last year.
The Business Groups Incorporation Act 1974 has notundergone any amendment since its passage nearly 50
years ago. The new amendments will bring the Act to thecurrent standards of business practices.
The Act was established to allow greater participation of
our local people in the economy. The Act achieved this bycreating customary groups that could be established forbusiness purposes and other economic purposes.
It provides for the process of incorporation of thesecustomary groups as business entities, and the control andregulation of the conduct of these business groups in the
country.
Much has changed in the intervening years, especiallywith regard to the use of technology to support online
electronic registry systems. The Investment Promotion
Authority (IPA) administers the Act through an electronic,
online registry system.

APEC’s Intellectual Property Rights
Experts' Group (IPEG)
The protection of intellectual property rights and their enforcement
is a foundational enabler for innovation, promoting foreign tradeand investment as well as boosting economic development.
In recognition of their importance, intellectual property rights
were featured in the 1995 Osaka Action Agenda — APEC's strategic
roadmap for achieving free and open trade and investment in theregion.
In 1996, the Committee on Trade and Investment (CTI) establishedan Intellectual Property Rights Get-Together (IPR-GT).
The aim was to ensure the adequate and effective protectionof intellectual property rights in the Asia-Pacific region throughlegislative, administrative and enforcement mechanisms basedon the principles of the World Trade Organization's Agreement on
Trade-Related Aspects of Intellectual Property Rights (the TRIPS
Agreement) and other related agreements.
In 1997, the CTI made the IPR-GT an official APEC group with
explicit terms of reference and renamed it the Intellectual Property
Rights Experts' Group (IPEG).
Topics that IPEG’s work engages with include:• Trademark links• Deepening the dialogue on intellectual property (IP) policy• New technologies• Patent grace periods• International IP dispute resolution• IP enforcement• IP commercialization & securitization of IP assets
None of the proposed amendments represent a shift in• Interoperability
policy or a change in how incorporated business groups
In 2023-2024, IPEG’s key focus areas are:are formed or operated. All the proposed changes follow
1. IP Financing
similar provisions already present in the Companies Act
2. IP in the Digital Economy and Interconnectivity
1997.
3. IP for Sustainable and Inclusive Growth
Source: APEC Website
INVESTMENT PROMOTION AUTHORITY | Page 4

LET’S HEAR IT!

Invest PNG newsletter

A Profile of the
Chocolate Industry

World Market & Trends in Major EU Importing Countries

Continue on to next page..........

INVESTMENT PROMOTION AUTHORITY | Page 5

continued from previous page........

A Profile of the
Chocolate Industry

Continue on to next page..........

INVESTMENT PROMOTION AUTHORITY | Page 6

continued from previous page........

A Profile of the
Chocolate Industry

PORT MORESBY, HEAD OFFICE
Level 1, IPA HAUS, Munidubu Street(Corner of Lawes Rd and Champion Pde)
Konedobu, Port Moresby
Address: P. 0. Box 5053 Boroko, 111 NCD
Papua New Guinea
Phone:(675) 308 4400 | (675) 321 7311
Facsimile: (675) 320 2237
Email:
ipa@ipa.gov.pg

www.ipa.gov.pg

INVESTMENT PROMOTION AUTHORITY | Page 7

O PPORTUNITYKNOCKS

Invest PNG newsletter

Swees Smallholder Cattle
Farmer's ProjectThis sustainable cattle project is a high-impact Nucleus
Enterprise Model project for smallholder cattle farmers
in the Highlands Region and the project is located in
Avi, Anglimp, Southwaghi District of Jiwaka Province
in Papua New Guinea (PNG).

of imported beef is used by two commercial canneries
to produce corned beef, luncheon meat, and meatloaf
products. In all, the livestock sub-sector contributes
about 15% of the total domestic food production andabout 12% of the gross domestic product.

The project aims to support the nucleus enterprisemodel to improve cattle/beef production intended for
improving livestock development, particularly in thiscase, by a chain of existing eight (8) smallholder cattle
farmers in the Highlands Region of PNG.

The current target, as established under the PNG
Development Strategic Plan 2010-2030, is to increase
domestic production to four million metric tons by 2030.
Current production is 400,000 tons which are only
10% of the meat target set by the PNG Development
Strategic Plan (PNGDSP). When the project becomeswell established, it will contribute to closing the 90%
gap of supply shortage experienced in the domestic
market. Sweet smallholder cattle farm currently uses
its customary land as well as portions 606, 605, 604,
603, 602, 598, 596, and 577 of Milinch Hagen for its
grazing and cattle breeding program. The cattle farm isalso in the process of acquiring part of the land portions
599 and 600.

This sustainable project will link all the smallholder
cattle farmers in the Highlands Region to access
capital, market, and technical support. The project has
attracted more than 8 registered smallholder cattle
farmers who have produced an aggregate number ofmore than 700 cattle heads under the nucleus model.
The project would specifically address (a) improving
cattle productivity and breeding program for the
existing smallholder cattle farmers (b) increasing theskills of smallholder cattle farmers in animal husbandry
and management (c) improving stockyard facilities withproper tools and equipment and grazing management(d) promote linkages for the community for technicalsupport from district agriculture livestock officers in theregion through a coordinating point and (e) provide
facilities for marketing of their produce. This project has
been appraised several times by both the Departmentof Agriculture and Livestock and the Department of
National Planning and various key stakeholders of theindustry support it. When the project becomes wellestablished, it will provide quality meat for the local
market, create employment, and improve the livelihoodof the local community. The project is seeking potential
investors for partnership and also seeking to improve
its market access both domestically and internationally.
Project Strengths
Currently, PNG produces around 1,400 to 2,000 tons ofmeat annually and nearly all the cattle meat is consumed
domestically. However to meet the local demand, thecountry imports around 14,000 tons of meat annuallyfor K30 million (US$8.5million) of which around 70%

The office of the Agriculture and Livestock continuously
recognizes and supports this cattle breeding andfattening project and provides technical support fromtime to time. Eight smallholder cattle farms have been
integrated and more cattle farmers have shown interestin this project and are expected to join. The project also
has access to local labor, vital infrastructures, and thedomestic market.

Projected Annual Sales 490.0K EUR
Products or services resulting from project Cattle; live, pure-bred breeding animals
Total Investment (Funding Gap) 3.9M EUR (3.7M EUR)

Email:
Phone: 308 4400/ 321 7311

INVESTMENT PROMOTION AUTHORITY | Page 8

Q

UESTION

TIME

What happens if my Business Name is not updated and has lapsed?
If your business name has its status as lapsed, you are now required to lodge a J-53 form which is located online.
Below are steps to take:1 First you have to sign into your online accountandclick on Searches to search for your entity.

4
Once authority is approved, you will now beable to lodge the J-53 form.

2 Once you type your entity name click on searchand you will arrive at your entity’s profile as shown
below.

3 You will now request for authority to enable you to lodge
the J-53 form. Click on where it says Request Entity Authority
and upload a Government issued ID and state the reason forrequesting authority. IF you are the owner, the authority type
you must select is EXECUTIVE.

5
Click on your dashboard, search your entity, clickon it and go to Lodge Other filings and select Windingup.

6
After you select Winding Up, you can now click to select the J-53 form- Application for revocationof business name cancellation. Complete the form and click on CHECKOUT to go to the payment
options to make your payment.
INVESTMENT PROMOTION AUTHORITY | Page 9

UPCOMING EVENTS

Invest PNG newsletter

Ok (river) Kaakil below Hindenburg Wall, Western Province, PNG. The Hindenburg Wall is sometimes described as a natural wonder of the world.
In 2013 a WCS survey documented 1108 plant and animal species at the wall, of which at least 89 are new to science. - Image by Grant Dixon Photography

39th Australia Papua New Guinea
Business Forum & Trade Expo
Climate of Change: Opportunities for Business in Papua New Guinea

13 - 15 May 2024
Sheraton Grand Mirage Resort Gold Coast
https://events.apngbc.org.au/event/APBF39/

INVESTMENT PROMOTION AUTHORITY | Page 10

Brochure Sponsor

Y

Invest PNG newsletter

OU SAID IT...
EMU HEREVA

A participant at the recently organised
PNG-Japan economic forum highly
commended IPA for hosting the eventthat provided him the opportunity toconnect with a major coffee exporter fromJapan.

I’ve had to spend a lot of money
participating in other events organisedby other Government Departments andprivate sector organisations. However, nosingle international customer visited mybooth. I spent so much money but gained
nothing in the end.
Thank you IPA for bringing the Japanese
investors in and arranging this forum
where I didn’t spend a single penny
to attend but the outcome was verysatisfying.

We have covered
the globe and we’re
expanding.

I believe IPA is better placed in this role
than any other government agency/organizations.

The Invest PNG newsletter is produced by the Public
Relations Team of the IPA.
Authorizing Head: Mr Clarance Hoot, Managing Director
Beverly Puton Piawu: Senior Public Relations Officer
Nasayau Lurang:
Assistant Public Relations Officer
Raphael Momong: Graphic Designer

Do you have a general question about theregulatory side of running a business or havea query on investment promotion or Intellectual
Property rights?
If so , email your question to: click
beverlyp@ipa.gov.pg
We will publish a selection of questions and our answers
in each issue of Opportunity.

“Your business,
Your Investment,		Our advice”

Disclaimer > Opportunity is intended to provide information of a general nature only. The content of this newsletter is not intended to be advice
or recommendation. It is not appropriate for the purposes of carrying out a transaction or making an investment decision. > The IPA takes reasonable steps to ensure the information provided in the newsletter is accurate and up-to-date at the time of issue, as well as to obtain reliable content
from third parties. However, the IPA does not guarantee the accuracy or completeness of the information or endorse the views or opinions given
by any third party provider, nor takes responsibility for any errors made in the process of providing this newsletter.
INVESTMENT PROMOTION AUTHORITY | Page 11