InvestPNG
Newsletter

Business NewsFROM THE

March, Issue #03

Investment Opportunities,

Updates from the IPA

MD’s DESKThe IPA has also been actively participatingin domestic and international events to keeptabs on the global doing business discussions and the investment trends in the various sectors in the different locations of thecountry.
Recently, IPA attended the Markham Valley
Investor Forum, where I personally visited
farmers in the area/district and I was able toimmediately pick out possible areas of IPA
assistance.

CLARENCE M HOOTManaging Director
Dear Readers,
Welcome to the 3rd edition of the Invest PNG
newsletter.
We have been busy with investment promotion
work as well as working with our relevant stakeholders in making our policies and regulations
work for our stakeholders.
Restoring and boosting investor confidence isour priority this year. Our various messaging
to our existing and potential investors remainsthat PNG is a vibrant investment destination
with relatively good high returns by turning
challenges into opportunities coupled with thediverse industries and untapped opportunities.
The favourable demand and high commodities
market prices are an attractive consideration.

IPA visited the Frabelle tuna cannery to appreciate the work the company is doing as
an investor that has employed more than
1,500 employees. Such companies are examples of investors who have made the bolddecision to invest in our country despite inherent challenges and have survived duringtrying times and continue to invest in the
country.
To further support this cause the IPA joined
the Department of Foreign Affairs (DFA) ina meeting to review one of the key instruments in boosting investor confidence. Read
more in our inside story on the DFA reviving
the inter-agency committee on Investment
Promotion and Protection Agreements(which is commonly known as Bilateral Investment Treaties).
We are also working with the Internal Revenue Commission and Bank of PNG throughTips & Traps

their Financial Analysis and Supervision Unit
to ensure that companies operating in the
country are complying to our tax laws andAni-Money Laundering and Counter Terrorism Financing laws and regulations. In addition, we joined the IRC and FASU/BPNG inlaunching the Exchange of Information Report for PNG.
Our work to promote and strengthen investment and facilitation also comes with thebalancing act of ensuring the regulatory andcompliance aspects of doing business in the
country are not compromised. This is a core
principle and value of the IPA. Watch thisspace on the announcement of the Regulatory Summit being planned for next month
where Regulators and industry players will
converge to discuss existing regulations andtheir impact on businesses.
Our newsletter now covers all the regions
around the world. Therefore, feel free toshare your story with us so we can take itaround the globe with us through this platform.
Keep striving in your endeavours and wewish you all the best.
Thank you.
Clarence M HootMangaing Director

Invest PNG newsletter

Certain ORS buttons switched on
Users of the IPA’s Online Registry System may havenoticed in their emails reminders from the system.
Recently new features of the registry system wereenabled. Users of the system should now be able toreceive;- Automated reminder from the system1 		
month before their Business Names expires.
- Automated reminder 1 month after the 		Business Name has expired.
INVESTMENT PROMOTION AUTHORITY | Page 1

NEWSInvest PNG newsletter

IPA Hosts Training Workshop on PNG’s Investment
Treaty Handbook

Participants posing for a photo session after the workshop.

The Investment Promotion Authority (IPA) has
successfully hosted a one day training workshop
on the final draft version of PNG’s Investment
Treaty Handbook.
The Investment Treaty Handbook Project isan ongoing collaboration in the APEC space andmore specifically with the Investment Experts
Group (IEG) in which IPA represents Papua New
Guinea. It is an initiative of Australia through the
IEG in which they are funding different phases
including;Phase 1: General Handbook for APEC economies (completed)
Phase 2: Tailored Handbook for Vietnam(completed)
Phase 3: Tailored Handbook for PNG (toend 31 March 2024).
Australia through their Department of Foreign Affairs & Trade (DFAT) have engaged Professor Jansen Calamita of the Centre for International Law (CIL) at the National University ofSingapore (NUS) to be the lead expert in developing the handbook for PNG. He was also engaged for Phases 1 and 2.
The training workshop was a significant aspect of the project phase in PNG as it was intended for officials at different levels and branches ofgovernment to gain an appreciation of the application and use of the handbook.
The handbook is not a substitute for legal
advice or in any way represents PNG’s positionin negotiating international investment treaties,
rather it is only a tool kit or resource material for
officials to use to seek specialized legal advice. In
the handbook, the Office of State Solicitors is therightful government legal avenue for officials to seek legal advice on PNG’s international investment treaties.
As the lead facilitator of the project
domestically, the IPA organized the workshop in Port Moresby and sent invitations
to central departments and agencies at
the national level; as well as provincial
administrations at the sub-national level.
The Goals of the Handbook are:Teach officials about the practical applications of the government’s treaty obligations,Improve the quality of governmental
decision-making; making decisions lesssusceptible to challenge,
Strengthen the effectiveness of otherpolicies and procedures for effectiv treaty implementation and;Help officials make better use of government legal resource.
So far, PNG has five (5) Bilateral Investment Treaties (BITs) which are commonlyreferred to as Investment Protection &Promotion Agreements (IPPAs). They arewith Australia, China, Germany, Japan,
and the United Kingdom.
Investment Treaties have powerful legal effects. They provide:
Binding rules for the State’s exercise of sovereignty;
Investors have the right to challenge State’s conduct
State’s conduct is judged acording to the treaty.

INVESTMENT PROMOTION AUTHORITY | Page 2

Potential flash points for disputes where Investors can and dobring claims: Licenses and permits(termination, suspension), Land use
requirements (restrictions), Regulatory changes (environment, taxation,etc), Administrative and judicial procedures (due process, transparency),
and Discriminatory treatment.
Most government officials at thecentral department and agency level, as well as at the provincial levelare not fully aware of PNG’s BITs or
IPPAs. These poses the challenges ofthem acting without awareness of
PNG’s international commitments,
not appreciating the consequencesof their decisions, and refusing to
make decisions rightfully in favor ofa foreign investor.
Therefore, this training workshop was an eye opener for many ofthem and they were thankful toContinue on to next page..........

NEWS

Invest PNG newsletter

continued from previous page........
the IPA for organizing this program which
has broadened their unders tanding andknowledge of the global trends with investment treaty obligations, Investor-State
Disputes and the PNG investment treaty
landscape.
To help the participants gain a better
appreciation of the PNG treaty landscape,the Deputy State Solicitor- Commercial,
Mr. Frederick Tamarua gave an insight on
the roles of the Office of the State Solicitors and the process in place for commercial disputes in PNG.
The workshop was attended by thefollowing departments and agencies at
the national level: Office of State Solicitors, National Trade Office, Internal Reve-nue Commission, Department of Foreign
Affairs, Kumul Consolidated Holdings,
Department of Petroleum, Department ofLands & Physical Planning, National Energy Authority, Department of Commerce& Industry, Department of International
Trade & Investment, National Institute ofStandards & Industrial Technology, Tourism Promotion Authority, Department ofPrime Minister & NEC, SME Corporation,
Industrial Centers Development Corporation, SEZ Authority, Department ofAgriculture & Livestock, Livestock Development Corporation, Kokonas Indastri
Koporesen, Bank of PNG, Securities Commission, Climate Change & Development
Authority, Department of Transport, PNG

Forest Authority, Independent Consumer& Competition Commission , Coffee Industry Corporation, Australian High Commission, PNG Immigration and Citizenship
Authority and the Department of Treasury.
From the provincial administrations
at the sub-national level: West New Britain, Milne Bay, Gulf, Sandaun and Western
Highlands provinces attended.
The draft version is currently with theprinters for layout and design before it isprinted. There will also be translated pidgin version which is being worked on by
Ms. Deborah Salle of PNG Language Services.

PNG reviewing Investment Promotion and Protection Agreements
and Treaties
The Department of Foreign Affairs (DFA) has commenced work inreviewing its Investment Promotion and Protection Agreements(IPPAs) with other countries .
The Department hosted its first meeting with key stakeholders including the Investment Promotion Authority, to discuss status ofexisting IPPAs and those that have expired.
According to DFA, agreements with several countries have been
ratified and implemented but others are still being progressed.
The first consultation held in March was to discuss the status of
PNG IPPAs between Solomon Islands, South Korea and Malaysia.

Invest PNG newsletter

What is Geographical Indication?
The use of geographical indications is an
important method of indicating the originof goods and services. One of the aimsof their use is to promote commerce by
informing the customer of the origin of the
products. Often this may imply a certain
quality, which the customer may be looking
for. They can be used for industrial andagricultural products. Protection of such
indications is on a national basis but there
are various international treaties that assist
the protection in a range of countries.
Geographical indications in a broad sense
include indications of source, appellation oforigin, and geographical indication (in thestrict sense). The Paris Convention does notuse in its terminology the term geographicalindication; it rather utilizes the terms,
indications of source and appellations oforigin.
An indication of source means any
expression or sign used to indicate that a

product or service originates in a country,
a region, and a specific place where theproduct originated. Example: Made inJapan.
An appellation of origin means thegeographical
name
of
a
country,
region,specific place which serves todesignate a product originating therein, thecharacteristic qualities of which are due
exclusively or essentially to the geographicalenvironment, including natural or humanfactors or both.
Example: Champagne.
Basically, a geographical indication is a
notice stating that a given product originatesin a given geographical area. The best
known examples of geographical indications
are those used for wines and spirits.
For instance, the geographical indication
Champagne is used to indicate that a
special kind of sparkling wine originatesin the Champagne region of France. In
the same way, Cognac is used for brandy
from the French region around the town of
Cognac. However, geographical indications
are also used for products other than wines
and spirits, such as tobacco from Cuba, orfor cheeses such as Roquefort. They may
also be used for industrial products, as
Sheffield is for steel.
The IPA through the Intellectual Property
Office of PNG (IPOPNG) has now
developed a Draft GI Bill and is conducting
consultations with stakeholders to seek theirviews on the draft Bill.
In a recent workshop in Port Moresby theteam consulted with participants on thecurrent state of products’ controls in PNG
especially for industries such as agriculture,
food, forestry and handcrafts. The workshop
also tried to identify and link the roles ofpublic & private authorities that certify
products in terms of quality and standards.

INVESTMENT PROMOTION AUTHORITY | Page 3

NEWSInvest PNG newsletter

Launching of the Exchange Of Information on Request Country
Action Plan (EOIR CAP) 2019 – 2024
The Investment Promotion Authority(IPA) joined the Internal Revenue Commission (IRC), Financial Analysis and Supervision Unit (FASU) of the Bank of PNG
in launching the Exchange of Information
On Request Country Action Plan 2019–2024 (EOIR CAP).
The objective of the Action Plan is toensure there is effective collaboration interms of information sharing among thethree agencies.
IPA Managing Director Mr. Clarence
Hoot joined his IRC counterpart and Commissioner General of IRC Mr. Sam Koim
and the Acting Director of FASU, Mr. Wilson Onea in launching the Action Plan.
PNG joined the Global Forum on Tax
Transparency and Exchange of Information (Global Forum) in 2015. The Global
Forum administers the international tax
transparency standards which include theexchange and automatic exchange of information with key stakeholders.
These standards aim to put an end tobank secrecy and tackle tax evasion.
PNG currently implements the international tax transparency standard of EOIR.
In 2019, PNG underwent a peer review
of its implementation of the EOIR Standard. the Peer Review assessed the legal
and regulatory framework and the practical implementation of the EOIR Standard,considering the EOIR requests that werereceived and sent during the review period from 1 October 2015 to 30 September
2018. PNG received a Largely Compliant(LC) rating. The LC rating was a result of
the efficient collaboration between IRC,
FASU and IPA in attending to the peer
review. The Global Forum also made certain recommendations for PNG where it
identified gaps in our legal and administrative framework. The three (3) agencies
have made considerable efforts to address
those recommendations since 2019. This
includes legislative reform undertaken by
the IPA and the signing and ratification of
the Convention on Mutual Administrative
Assistance in Tax Matters (MAAC).
As the custodian of the country’s business registry database, Managing Directorof IPA, Mr. Hoot during the launching explained work done by IPA over the years ina bid to ensure transparency and real time
services to its clientele.
“We undertook significant exercises toreview the laws under the IPA’s jurisdiction
purposely to address PNG’s international
obligations on Anti-Money Laundering(AML) and Counter Terrorism and Financing (CTF) reforms and to be on par with

From right: Investment Promotion Authority Managing Director Mr Clarence Hoot, Acting
Director of FASU, Mr Wilson Onea and Internal Revenue Commission Commissioner General Mr Sam Koim officiate the Launch.

new developments of technology in thearea of business registry systems. The legislative amendments including the Companies (Amendment) Act 2022, BusinessGroups Incorporation (Amendment) Act
2022, Associations Incorporation Act 2023
and the Investment Promotion Authority(Amendment) Act 2023 have been passed
and are in operation.”
Mr. Sam Koim in his address also explained the operations of IRC under the
evolving global taxation landscape.
“The traditional tax norms, enduring
for centuries, are transforming due to rapid digital economic shifts. Participating
in international taxation entails sharing
legal and beneficial ownership information with other jurisdictions, eradicatingbanking secrecy, thoroughly analyzing financial data, and fairly distributing taxing
rights among states. The IRC significantly
is taking strides to suppressing illicit financial flows and eliminating tax evasion.”
In giving the FASU perspective, Mr.
Wilson Onea, emphasized that FASU willcontinue to perform its mandated function under the AML/CTF Act 2015 in respect to supervising and enforcing compliance by financial institutions (FIs) anddesignated non-financial businesses orprofessions (DNFBPs) which are relevantto the implementation of the Global Forum standards.
“PNG Money Laundering and Financing of Terrorism (ML/FT) National Risk
Assessment (NRA) identifies taxation andrevenue fraud as one of the major areasof criminal activities posing significant
money laundering (ML) threats to PNG.
I am confident that partnership in thisINVESTMENT PROMOTION AUTHORITY | Page 4

space would assist deter and disrupt tax
crimes and contribute to improving tax
revenue generation for PNG in the years
to come.”The EOIR CAP was developed to guide
PNG to address the recommendations
emanating from the second round of Peer
Reviews. It contains all the recommendations that were made by the Global Forum. Beside each recommendation, the
EOIR CAP outlines the actions to be taken
to address each recommendation, andthe responsible agency. Having a plansuch as the EOIR CAP in place will assist
the three (3) organisations to take meaningful steps to address and remove thoserecommendations before the next peer
review.
Mr. Koim extended his profound gratitude
to FASU and IPA for their exceptional collaboration in addressing the EOIR Peer
Review recommendations since 2019.
He highlighted that their diligent efforts
have provided essential information andfulfilled statutory obligations, upholding
principals of tax transparency and contributing to the effective implementationof EOIR in PNG.
The final published Peer Review report
was published by the Global Forum andis publicly accessible on the Global Forumwebsite:www.oecd.org/tax/transparency
The published and complete EOIR CAP
2019 – 2024 can be accessed on the IRC
website: www.irc.gov.pg.

NEWSInvest PNG newsletter

IPA team visits Lae industries

IPA team lead by Managing Director Clarence Hoot ( centre) tours the Frabelle
Factory in Markham. The factory employs over 1500 employees.

INSERT: IPA Managing Director, Clarence Hoot andExecutive Officer to MD's Office, Ronald Maru attending
Markham Investor Development Forum 2024 during thevisit to Lae.

Intellectual Property Office of PNG progressing workon Geographical Indication
The IPA through the Intellectual Property Office of Papua New Guinea (IPOPNG)
has recently concluded a consultative
workshop on the Geographical Indication(GI) legal framework for Papua New Guinea.
The workshop was organised for commodity boards, government departments
and agencies, private sector reps, community-based groups and other stakeholders
who administer laws and monitor standards in food crops, fresh produce, fisheries and handicrafts.
The use of geographical indications (GI)is an important method of indicating theorigin of goods and services. One of theaims of their use is to promote commerceby informing the customer on the originof the products which may often imply acertain quality which the customer may belooking for. They can be used for industrial
and agricultural products.
The IPOPNG has developed a Draft GI
Bill and is conducting consultations withstakeholders to seek their views on thedraft.
Since 2021, IPOPNG has been working
with the EU funded programme “Support
to Rural Entrepreneurship, Investment andTrade in Papua New Guinea” (EU-STREIT
PNG) to develop a Geographical Indications System in PNG. Since then, the office has embarked on several awarenessconsultations with selected Government
stakeholders, private business entities anda selected range of Agricultural and Handicraft cooperatives to convey the information on Geographical Indications (GI).

Participants during the workshop
Geographical Indication is an intellectual property right in a GeographicalName that is approved through a quality
scheme approach, specifically designed
for traditional and regionally specific agricultural products and handicrafts.
EU-STREIT PNG Programme wastasked to support the introduction of thiscertification within national legal frameto accelerate its adoption and allow PNG
entrepreneurs to fully benefit from thisintellectual property protection.
The IPOPNG and the EU-STREIT PNG
Programme have undertaken initial
works to pave way for the GI legal framework implementation in PNG. This includes therevision of the Trademark Law andrelated legislation and the launching ofpilot product identifications.
The IPOPNG team has successfully
drafted the National GI Bill (Law) which
they are now doing consulting on. The

INVESTMENT PROMOTION AUTHORITY | Page 5

workshops have been targeting;•Government Departments/
Agencies (DAL, PNG Customs, NFA, National Forest Services, NARI, NAQIA, ICCC,
Department of Commerce & Industry,
Fresh Produce Development Authority, Coffee Industry Corporation, Cocoa
Board, Spice Board, etc.)•
Provincial Governments/ Administrations (Provincial Administrator& Administrator’s Office, Provincial DAL
Office/Officers, Commerce Officers, Governor’s Office Rep, etc.)•
Handicrafts, Agricultural andFisheries Cooperatives/Associations (Cooperatives and Associations involved inAgriculture, Fisheries and Handcrafts)•
Business Entities (Manufacturing Companies, SMEs who produce products derived from the three 		(3) sectors, Exporting business 		
entities, etc.)

LET’S HEAR IT!

Invest PNG newsletter

A Profile of the
Chocolate Industry
Cocoa is one of the major agricultural export
crops for PNG with an estimated 151,000 households or about 1.0 million people involved in theindustry. Of the twenty-two (22) provinces in
PNG, fourteen (14) are cocoa growing provinces.
The main production areas are Bougain­ville, East
Sepik, East New Britain, Madang, New Ireland,West New Britain and West Sepik Provinces.
PNG's cocoa is organically grown particu­larly in
the Islands & Coastal Provinces. The high qualityof production and very condu­cive climate, results in high yielding and better flavor cocoa. In
fact, more than ninety percent of PNG's cocoa isclassified as fine flavor, which fetches the highest
price on world markets. Cocoa has an excellent
governance system is in place, including a very
effective regulator (CBPNG) to support the farmers through­out PNG. A cocoa nursery project
has been initiated by CBPNG to be distributedand plants sent to cocoa growing districts. The
industry also benefits from Local knowl­edge of
production and harvesting of cocoas and is an
important source of rural employment. Privatecompanies are also engaged in exporting the
product and that contributes towards upholding
quality control and best prices in world markets.
Most of the local companies have been certified
incl. HACCP; ISO and others through the assistance of the regulator.
Primarily small-scale rural farmers grow cocoa,
another major cash crop in PNG. Cocoa production averaged 40,500 tons from 2000-10, generating export revenues of $107.Smillion annually
over the decade. As of 2011 there were approximately two dozen private companies marketing
PNG cocoa beans abroad.
Most cocoa cultivation takes place in a limited
geographical region within the Autonomous
Region of Bougainville and the East New Britain
and Madang provinc­es, responsible for around
80% of all production. Similar to coffee production, a number of restricting factors limit yields
to roughly half of their potential output. A cocoa
pod borer pest has plagued cocoa farming in recent years, damaging crops and lowering output,
although the Cocoa & Coconut Institute is also
working on improving integrated pest management practices as well as researching practicalapplications that will be able to be utilized by rural farmers. The sector is governed by
the Cocoa Industry Board, which is respon­sible for regulating exports, quality control and registrationof cocoa growers, proces­sors and exporters.
In summary, PNG's cocoa is organically grown particularly in the Islands
and Coastal Provinces. The conducive
climate for growing cocoa results inhigh yielding quality production andof great flavor. Together with excellent
local knowledge of production andharvesting of cocoas and an Excellent
governance system is in place for thecommodity, it fetches the highest pricein world markets and a good sourceof rural employment for thousands ofcitizens. Private companies are also
engaged in exporting the product andthat contributes towards upholding
quality control and best prices. Most of
the local companies have been certified incl. HACCP; ISO and others throughthe assistance of the regulator (CBPNG)
who supports the farmers throughout
PNG.

The opportunities for investment in thecocoa and chocolate sector in PNG are
evident from the fact that these commodi­ties enjoy strong demand in the
EU market and on the PNG side, theindustry's focus is to fulfill the National Government's targets to produce
310,000 tons of cocoa products by year
2030. This means that government will
support the investments made by private companies that are aligned withthe overall objective stated above.
Invest­ments are needed in modern
technologies to improve productivity,
as well as more advanced drying processes to eliminate the smoke taint that
results from the drying process presently used. Also, invest­ments are neededin roasting capacity and in downstream
processing of higher standards to produce chocolates and other derivatives,because most of the cocoa is currently

INVESTMENT PROMOTION AUTHORITY | Page 6

exported as unprocessed prod­uct,
resulting in limited revenue for PNG
farmers. Finally, investors may be able
to exploit Geographical Indications
given the growing demand for cocoa
products in various other industries(food, health care, etc.).

L EGAL
UP-DATE

Invest PNG newsletter

IPA on EOIRCAP
Exchange of Information on Request Country Action Plan (EOIR CAP) 2019-2024
What is IPA’s role in the EOIR work?
The EOIR Peer Review also imposed on IPA certain action items toachieve in order to meet these international obligations/requirements. IPA as
the agency responsible for business registration and investment facilitation in PNG,
it recommended that laws be amended
to cater for these new requirements, onesuch requirement was the Beneficial Ownership (BO) of business entities.
What actions were taken by IPA?
The IPA undertook significant exercise to review its laws to address PNG’sinternational obligations on Anti-Money
Laundering/Counter Terrorism and Financing (AML/CTF) reforms and to keep up to
par with new developments of technology in the area of business registry systems.
These new amendments are:
1. Companies (Amendment) Act 2022
2. Business Groups Incorporation(Amendment) Act 2022
3. Associations Incorporation Act 2023
4. Investment Promotion Authority(Amendment) Act 2023
Companies Amendment Act 2022
 Re-registration—It is a requirement for all registered companies tore-register before 1 December 2023. This is
to ensure the register maintains accurate(up-to-date) information in the new upgraded registry.
 Beneficial Owners (BO) - It is arequirement for registered companies tokeep BO information in their internal records. The Registrar is then empowered toinspect these records without a need forcourt warrant/orders.
 Share Transfer– Share transfer notice are now required to be lodged within
10 days after share transfer. This is to ensure information on shareholders are accurate and up-to-date.
 No publication for Deregistration—The amendments also eliminate therequirement for publication of companies
to be deregistered for failure to lodge annual returns. The new registry system will

send out automated notices to companies
reminding them of their compliance obligations once the grace period expires,companies will be struck off the register.
Once compliance is rectified the system
will reinstate the companies with less hassle.
Business Groups Incorporation(Amendment) Act 2022
 Recognition of electronic registry—The amendments address new definitions specifically for electronic documents
and filings.
 Authorizes IPA to maintain registry—IPA to maintain registry including rectification of the register where there is data
entry error
 Change in committee members–
It is now a requirement to notify the Registrar of change of committee member. This
is to ensure there is accurate informationin the registry.
 General Annual Return—BusinessGroups required to file a general annual
return with the Registrar. This will ensure
updated and accurate information on
Business Groups are kept in the registry.
 Winding up—It is now a requirement to file a court order pertaining to anincorporate Business Group ceasing its operations.
Associations Incorporation Act
2023
 New Act (Old Acted repealed
and Replaced) There is also significant improvement in the areas of corporate governance, financial accountability, rules andmembership and management of incorporated associations.
 The new law recognizes two subtypes of association:i) public benefit, andii) mutual benefit.
 A public benefit association is anincorporated association that is formed
for a charitable purpose that benefits the
public interest. A member benefit association is formed and operated primarily forthe benefit of its members. There are a few
differences in the new Act on how publicbenefit and mutual benefit associations
are treated.

AML/CTF International Obligations—New Act also addresses PNG’sinternational obligations on AML/CTF
reforms, clearer internal rules on accounting, financial & statutory reporting
responsibilities of committee member/
Public Officers.
Investment Promotion Authority (Amendment) Act 2023

Efficient Approval Process– Incoming investment including automatic
rejection of activities that are reserved for
citizens.

Reserves Activities List & Restricted Activities List—IPA will be able to setbase conditions on investment in identified activities.

Regular Reviews—There will be
regular reviews of the Reserved Activities
List and Restricted Activities List (RAL).

Protection of PNG Business—
From rising costs & reduced completionby putting in place common sense rules
about activities of restricted.
Protection of existing investments—Allows existing investments tocontinue but provide process whereby
investment can be disposed of in future.
Enhancement oversight on
Foreign Investment—Requirement toreport annual status reports and ability tosuspend/cancel investment certification
for investors not meeting their obligations
and breaching domestic laws.

New Registrar—Creation of newRegistrar for Foreign Investment. The
Registrar will oversee new system withpowers to speed up wanted incoming
investment and automatically denying
unwanted investments. Also, to enforce
more compliance.
Conclusion
Amongst amendments of the IPA mandated laws, there are other action itemsin the EOIR Country Action Plan which
IPA will need to work closely with IRC andFASU to achieve in the long run.

INVESTMENT PROMOTION AUTHORITY | Page 7

O PPORTUNITYKNOCKS

Invest PNG newsletter

AWARI POULTRY
partners for other types of collaboration to access newmarkets (domestic or international buyers), access production materials and components at affordable prices,
and access technology and know-how expertise for theemployees who will be employed under this expansion
project. This project is expected to create employment for
women and youths while it will also serve as a source ofincome for many families in the local community.
Project Strengths

Awari Poultry is a local SME business specializing in

Layer Poultry Farming that involves raising egg-laying
poultry birds for Commercial Egg Production. Awari
Poultry, owned and managed by a local woman entrepreneur, was established in 2018 and the company
is based in Banz, Jiwaka Province. Since its establishment, Awari has been serving various customers within the Banz area who have a demand for both poultry
birds for meat and fresh eggs that are being produced
daily. The objective of this project is to expand the
production capacity of this poultry business to serve
the increasing level of demand from within the Jiwaka
province as well as the demand from the neighboringhighlands provinces.
To realize this poultry layer farming expansion project,
Awari Poultry is seeking to partner with potential investors to help support the establishment of an additional production facility and the establishment of astorage or distribution/ sales outlet as well as the purchasing of new machinery and equipment. Some of
the materials that will be purchased include, and are
not limited to, roll wires, feeders and drinkers, sawn
timber for making egg boxes, a tuffa tank for water
storage, light for the poultry shed and stock feeds. Thisfarming business also seeks business

The poultry industry in PNG generates over K800 million annually and more than 80% of this is produced byout-grower farmers living in villages in rural areas. In addition, the poultry industry in PNG formally employs around3,000 people, 90% of whom are women. Awari Poultry is
one of the experienced poultry operators in the Banz constituency. Awari is an established member of a chick/chickfeed supplier and poultry farmers network in the province.
Awari often deals directly with operators who provide
various services such as the provision of guidelines andcontinuously updated information vital to effectively compete in the market. Furthermore, there are a very limited
number of competitors and fewer resources are expected
for the marketing and promotion of our products. The
main competitor is the Christian Leaders’ Training College
in Banz, which is a renowned poultry/ egg supplier in theHighlands Region. There are few other out-grower farmers
in the province but Awari already has established buyers
with high demand that surpasses the supply. A limited
number of competitors, high profitability, no marketing
expense, and not easy entry show that the poultry farming
business has a very stable business environment it will pay
off well. Other project strengths include the availabilityof land and local labor to produce fresh eggs/meat that isaffordable and accessible to various types of buyers.
Products or services resulting from project: Birds’ eggs,
in shell; fresh, fertilised eggs for incubation
Projected Annual Sales:

156.8K EUR

Total Investment (Funding Gap): 294.0K EUR (284.0K EUR
Contacts:
Kilip Village, Banz LLG, P.O. Box 23, Mt. Hagen, Western
Highlands Province, PNG, Other, Jiwaka, Papua New Guinea OR
Please contact the Investment Promotion Authority (PNG)
on 3084501/4400 or email likavape@ipa.gov.pg

INVESTMENT PROMOTION AUTHORITY | Page 8

TIME

How do I know when to renew myBusiness Name?
At the time of registration the system will automaticallygenerate the business registration number and its expiry
date. You will see the expiry date at the bottom of the certificate right under the seal and the signature of the Registrarof Companies.
The expiry date has been boxed in red in the image below.

....................................................................................................................................................................................................................................................................................................

Q

UESTIONUPCOMING EVENTSRegulators Summit – IPA.
May 23-25, Port Moresby

The aim of the second Summit is to identify synergies amongst the Government and the statutory
regulatory agencies to take stock of reforms andprogress being undertaken to achieve Government’s
e-commerce agenda and digital transformation.
The discussions intend to focus on the following
priority areas;•
Stock take on Government departments,
agencies and industry regulatory bodies have progressed in adopting e-commerce and digital transformation in their operations and improved clientele
service delivery;•
Promote dialogue and identify central depository point for regulatory agencies to converge
and create synergies and work towards achieving
optimization of business processes; and•Provide policy recommendation for Government’s consideration and action.

39th Australia PNG BusinessCouncil Forum and Trade Expo

May 13-15 Gold Coast,
Queensland Australia

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

INVESTMENT PROMOTION AUTHORITY | Page 9

https://events.apngbc.org.au/event/APBF39/

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Invest PNG newsletter

OU SAID IT...
EMU HEREVA“Dear Kenneth,
Please find attached a letter of appreciation
for your quick response and successfulnavigation of the Gorgor that occurred at
Simberi Mine on March 21st.
I believe because of your and the otherstakeholder actions our landowner grouphas emerged ready to effectively leadthe community in the upcoming CBAnegotiations, and the next phase of themine’s life.”

Kenneth Mowi is the Investment
Promotin Authority’s Enforcement
Officer at the Legal and Compliance
Unit.

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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
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INVESTMENT PROMOTION AUTHORITY | Page 10