pportunity
Issue #05 May, 2023

Business News, Reviews and Overviews from the IPA

MD’s INBOX

CLARENCE M HOOTManaging Director

ear Readers,welcome to the fifth editionof the IPA “Opportunity Newsletter”.
I hope you have been enjoying our newsletters so far. We are now into the fifthmonth of the year and as usual it has
been a deserving couple of months withexpectations of more work to be done
into the remaining months.

IN THENEWS

he 38th Austrlia-PNG Business
Forum and Trade Expo which
was hosted at the Hilton Hotel inPort Moresby ended on a high note.
The Investment Promotion Authority(IPA) was a sponsor of the event and wewere given the opportunity to set up abooth to showcase our products and services. The Trade Exhibition Display was
officiated by the Assistant Trade Minister, Hon Tim Ayers and the Investment
Promotion Authority Managing Director,
Clarence Hoot.
The three (3) days event which was
hosted from the 15th to the 17th of May,
2023 is an annual event which brings together businesses, government officials

Let me at this juncture announce thatmuch of the data from our old Online
Registry system has now been migrated
to the new system. We now expect all
lodgements to be done online by clients
after creating their online accounts.
A kind reminder again that all business
entities are required to do re-registrations and/or update their records/files
before this year ends. For existing companies that have outstanding annual returns, you will be expected to pay a oneoff fee of K500 when re-registering yourcompany irrespective of the number ofyears of outstanding annual returns.
In terms of ensuring that IPA extends its
services to the provincial level, we have
set up help desks in a number of provinces through the signing of MOUs withthe provincial administrations of theseprovinces.
IPA is preparing to sign MOUs with theEnga Province Government, Simbu andJiwaka among others. Plans are on footfor the setting up of IPA Help Desks inthese Highlands Provinces within their
Commerce Divisions. The respective
Commerce Divisions will administer the
Help Desks with training by IPA and ensure it provides IPA services to our peo-ple.
On the investment promotion front,
we participated in the first ever Special
Economic Zone summit and the annual
Australia-PNG Business Forum and Trade
Expo. You can read more on these in thisissue.
In terms of the Reserve Activities List
(RAL), the IPA is continuing its review of
the RAL and consultations are ongoingwith respective agencies before we enter
into public consultations.
The IPA is now working on the development of its new 3-year Strategic Plan forthe years 2024 to 2026 as our current
3-year Strategic Plan for 2021-2023 concludes at the end of this year.
I’m happy with the achievements in thecurrent plan and we look forward to formulating future strategies going forwardin the new plan. For now, I hope you enjoy this edition of our newsletter.
Thank you and happy reading!!
Clarence M HootManaging Director

Investment Promotion Authority
co-hosts the 38 th Australia-PNG
Business Forumand other interested parties active in Australia–PNG business.
The theme of the Forum is ‘’Advancing
Smart Investments between Papua New
Guinea and Australia’’. Companies exhibiting at the Trade Expo had the opportunity to present their goods and services
to participating delegates. The event featured a speaker program, trade expo, dinner, networking events and more.
Over fifty (50) participants who visitedthe IPA booth had queries in relation tobusiness registrations. Client queries andinformation on how to venture into theexport level were disseminated during
the exposition. Most of the queries wereto do with the new Online Registry sys-

tem and how to register a foreign entity
in Papua New Guinea.

Manager Marketing & Export Promotion, Ms
Daure Kiromat (LEFT) and Assistant Public
Relations Officer, Ms Nasayau Lurang at the
expo booth.

INVESTMENT PROMOTION AUTHORITY | Page 1

IN THE

NEWS

Maru on Australia- PNG Trade Relations
he country- country trade andinvestment relationship between Papua New Guinea (PNG)
and Australia is skewed in Australia’s favour and Australia has not done enoughto support PNG to increase its exports,
according to the Minister for International Trade and Investment, Hon. Richard
Maru, in his keynote address during the38th PNG-Australia Business Forum andTrade Expo held at the Hilton Hotel inPort Moresby, May. “For the last 47 years,
trade hasbeen infavour ofAustralia;that hasbeen thestatus quo.
PNG’s exports to Australia aregold and
Minister for International
other precTrade and Investment,
Hon. Richard Maru,
ious metals,
which comprise over 98% of total exports. Thismeans less than 2% are from the non-extractive sector and are valued at about
K50 million per annum,” he said.
Australia’s total exports to PNG are estimated at over K1.5 billion, which translates to a ratio of 1 to 10 - a very hugetrade imbalance. In terms of investment,
Australia has invested AU$24 billion in
PNG, while PNG invested AU$ 4 billion inreal estate,” said Minister Maru.
“Australia has been using its very
stringent technical barriers and biosecurity to make it very difficult for PNG to export its taro, sweet potato, fish, and otherfood products to the Australian market.
So as far I as the Minister for International Trade and Investment is concerned;
there is no need for us to talk about a
trade agreement,” he added.
“There is no need to talk about Placer Plus or even a study on a Free Trade
Agreement between our countries. Thereis no point when the trade and investment imbalance is so big and so skewed
to Australia and unlikely to be reducedin the foreseeable future,” said MinisterMaru.
The minister encouraged Australianbusinesses to seriously canvas more newand emerging business opportunities in
PNG and seek to partner with local SMEs
and PNG-owned companies in their business endeavours.
On the other hand, Australian Senator the Hon. Tim Ayers, Assistant Minister
for Trade and Assistant Minister for Manufacturing, in his keynote address said
Australia is proud to be Papua New Guinea’s largest economic, security, and development partner, with two-way tradereaching $5 billion in 2021-2022.
“Trade isn’t just about commercial
benefits, it’s also about dealing with big
challenges, building capacity to meetinternational market standards, and creating businesses that deliver good local
jobs,” he said.
“Australia is proud to support Papua
New Guinean companies and reach theirpotential by elevating the quality of production to meet international market
standards and establish commercial links
with Australia and New Zealand,” said
Senator Ayres.
A testament to Australia’s commit-

ment is the PHARMA Plus program,where the Queen Emma Chocolate Factory received expert training and technical expertise in producing international-standard products certified to theAustralian and New Zealand Markets asoutlined by Senator Ayers.
Regarding trade, Ms. Jane Ravusiro,
Advocate for Sustainable & Inclusive Agriculture Growth & Livelihoods for Abt
Associates Australia, commented that
the Papua New Guinea market was notviable with strict security protocols, andthat the Australian market was structured differently.
An example of this barrier of trade put
into picture was a presentation made by
Mr. Navin Raju, Chief Executive Officer forCity Pharmacy Limited, who gave an account of CPL’s work in Papua New Guinea, especially in engaging local farmers
in the agriculture sector to better equipthem in selling their produce.
He explained there was no propermarket access available from the farmers’ end to the buyers and that relevant
stakeholders and authorities should
work together in making sure Papua New
Guinea’s agriculture produce does reach
Australia.
“When I go to the Australian markets,
I usually see taro from Tonga or Fiji. How
about PNG and why can’t our taro reach
Australian Markets?” said Mr. Raju.
The forum showed Papua New Guinea and Australia’s perspective on howeach country had a different type of business environment and a dire need to address outstanding technical and politicalissues regarding trade.

Tips & Traps
1.
2.

Create an online account (if you still don’t have one).
From the dashboard of your online account, conduct an Entity Search.

3.
4.

Type in the name of the business entity you are after and click on Search. Locate the business entity name and click on it.
This should take you to the Entity’s Profile. Click on “Order Documents”.

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

INVESTMENT PROMOTION AUTHORITY | Page 2

continued from previous page........
5.
6.

Select document you want to order and make payment.
Note: Full Entity Profile Access for 24 hours costs K10, COGS short form costs K20 and
COGS long form costs K50.
If payment is successful, go back to your Dashboard click on My Order,
type in the name of your business entity in the appropriate box and clickon Search.

If a business entity has been reregistered or updated:
For Business NamesIf your business name has expired and you have done your renewal, you will only get the Certificate ofIncorporation and not the Certificate of Good Standing (COGS). You will NOW have to order the updated Certificate of Good Standing (COGS).
For the other business entities, you will get both documents including the Certificate of Incorporation and the Certificate of Good
Standing.

							Investment Promotion 			IN THE							Authority
participatesNEWS							in the Special Economic							Zone Summit
SMEs and MSMEs in the country.
Those who visited the IPA booth wereprivileged to have been given advice on
how they can venture into the formal
business sector by registering their businesses.
The SEZ summit was officially opened by
the Prime Minister Hon. James Marape.
In his opening remarks, PM Marape said
SEZ establishment in PNG was a work inprogress with promising developments
ahead.
He said the government has been pushing hard for the establishment of SEZs
in PNG since 2019, and he commended
hardworking International Trade and Investment Minister Hon. Richard Maru, forplaying a leading role.
Executive Secretary to Managing
Director’s Office, Ms Annie Garo (Left)and Manager Marketing &Export Promotion, Ms Daure
Kiromat at the booth.

The Investment Promotion Authority participated in a three (3) day Special Economic Zone (SEZ) Summit which was heldin Port Moresby from 7th to 9th of May,
2023.
At the organiser’s invitation, a booth was
set up at the summit to showcase thework that IPA does in terms of contributing to the empowerment of the growth of“Last September, while in Tokyo, Japan,
Minister Maru and I held discussions withinternational SEZ leader, Japan Development Institute (JDI), and I am pleased to
say that JDI was immediately engaged
by Government to check out potential
SEZ sites around the country and I lookforward to JDI’s report at the summit,” hesaid.

timber in 2020; and generated US$1.7 billion in direct foreign investments.
“This is the path I have been envisaging
since I took office, switch to downstream
processing of our natural resources and in
my various meetings with world leaders, I
have been inviting them to invest in thisspace,’’ said Prime Minister Marape.
PM Marape was also in remote Kurindal
in Lasul-Baining Local Level Government(LLG), Gazelle, East New Britain where herecently launched a brand-new KKC Veneer Mill.
“This is the second veneer plant in the
country after Angoram in East Sepik,
which are types of businesses we want in
SEZs and the mill is very much in line withmy government’s push for downstream
processing of logs and other resources,”he added.

Mr Marape said SEZs can transform theeconomy of a country after visiting Gabon
in Central Africa in March this year.
“The Gabon SEZ has created 16,000 direct
and indirect jobs; exported US$265 million worth of products exported annually;
processed 820,000 cubic metres (m3) of

INVESTMENT PROMOTION AUTHORITY | Page 3

Prime Minister Hon. James MarapeNEWS...............................................................................................................................................................................................................................................................................................

IN THE

Bankai Group enters Papua
New Guinea, secures businessdeal with Telikom PNG Ltd

The Bankai Group makes courtesy call on IPA MD, Mr Clarence Hoot seen shaking handswith a representative from Bankai Group.

Founded in 1989 and headquartered in New York, Bankai Group is a global leader
in the Fintech, Information Communication Technology (ICT) and services domains.
The company deals with financial, telecom, voice technology, retails and wholesale
voice, SMS and carrier services for the last three decades.
The Investment Promotion Authority facilitated and introduced Bankai Group to the
Telikom PNG Ltd through the Pacific Trade and Invest Office in Auckland, New Zealand. This is one of the many positive outcomes of close collaborations with our international network partners in delivering meaningful investments for the country.

The Bankai Group led by its Chief Business Development Executive for Asia, Middle
East and Oceania, Mr. Aayush Barot, were in the country from 27th May to 03rd June
to attend the Pacific Islands Telecommunication Association Conference held at the
Hilton Hotel. During their engagements, the Group made a courtesy call on the IPAManaging Director and made presentation on their entire business outlook and also
outlined their global footprints.
The Bankai Group signed a business and investment partnership with Telikom PNG
on 1st of June 2023 through an MOU establishing businesses on multiple fronts ofimproving their (Telikom PNG) quality of voice/SMS & roaming services along withestablishing OSS/BSS & Fintech solutions. The Bankai Group will be investing under
this MOU into Telikom PNG’s voice & sms network along by providing quality improvement to the subscribers.

Papua New Guinea
signs defence
agreement with UnitedStates government

apua New Guinea signed a Defence
agreement with the United States ofAmerica.
“The defence cooperation was draftedby the United States and Papua New Guinea
as equals and sovereign partners,” US Secretary of State Antony Blinken said during thesigning ceremony.
Mr Blinken said the US would deepen its
partnership across the board with PNG.
Prime Minister James Marape and Mr
Blinken discussed economic development,
the climate crisis, and the importance ofcontinuing US engagement with the Pacific.
“The pact will expand PNG’s defence capabilities to enhance humanitarian assistanceand disaster response, and make it easy
for US and PNG forces to train together,’’
Blinken said.
He described it as fully transparent.
A separate agreement would increase
maritime surveillance of PNG’s exclusive
economic zone through US Coast Guard
patrols, protecting its economy from illegal
fishing.
Blinken said partnerships with businesses would bring investment worth tens ofbillions of dollars to Papua New Guinea.
Meanwhile Prime Minister Marape said theagreement would boost economic security
by giving PNG’s defence force “the ability
to know what is happening in its waters –something PNG have never had since 1975”.
Despite the number of protests against
the signing, the Prime Minister came out toclear the air saying the US defence agreement was an extension of an existing agreement and is similar to that signed between
Australia.
Marape said the defence agreement
would also see an increase in US militarypresence over the next decade.
Washington will provide $45m in new
funds as it worked with PNG to strengthen
economic and security cooperation, including protective equipment for the PNG defence force, climate change mitigation andtackling transnational crime, and HIV/AIDS.

INVESTMENT PROMOTION AUTHORITY | Page 4

IN THENEWS

INDIA’S PRIMEMINISTER VISITS PNG
FOR INDIA-PACIFICISLANDSCOOPERATIONFORUM.

he 3rd summit of the Forumfor India-Pacific Islands Cooperation was successfully heldin the nation’s capital, Port Moresby thismonth.
The Indian Prime Minister Narendra
Modi was here in the country for thatsummit. His attendance is part of his
second leg of a three-nation tour during
which he first attended the Group of
Seven (G7) summit in Japan and then go
on to Australia.
Modi’s visit to Papua New Guinea is
aimed at soaring up India’s outreach to
Pacific Island countries, with an eye on
countering China’s growing footprint in
the Pacific.
The first visit by an Indian prime minister to the largest of the Pacific Island
nations comes as New Delhi’s hostilities
with Beijing have prompted it to work
more closely with countries such as theUnited States, Japan and Australia in the
Indo-Pacific region.
A total of 14 Pacific Island countries
attended this summit which was hosted
by PNG’s Prime Minister, James Marapeand the Indian Prime Minister, Narendra
Modi.
The summit, which is being held
eight years after India hosted the last
one in 2015, could give fresh momentum to New Delhi’s bid to establish apresence in the Pacific Island countries.
India began its outreach in 2014, but it
has been slow to get off the ground.
The 14 pacific island countries include Fiji, Papua New Guinea, Solomon
Islands, Tonga, Tuvalu, Kiribati, Samoa,
Vanuatu, Niue, Micronesia, MarshallIslands, Cook Islands, Palau and Nauru.
Papua New Guinea has longstandingties and a trade relationship with India.

Modi and Marape met on Monday the 22 nd of May and the two sides
signed pacts that include cooperationin micro- and small to medium enterprises and visa arrangements. That includes issuing visas on arrival.
The issue about the impacts on climate changes affecting small island nations was also among the agendas thatwere discussed during the summit. Thisis an area where India can play an important role by offering affordable partnerships in areas like solar energy.
Papua New Guinea also wants toshift its economy from export of primary materials such as natural gas andminerals to downstream processing.
Analysts say India hopes to partnerwith the Pacific Island countries with
development initiatives in areas such as
clean energy, technology and community development projects such as solar
electrification and supply of agricultural equipment.

Chamber of Mines &Petroleum confirms
council for new term

The PNG Chamber of Mines and Petroleum (“The Chamber”) has confirmed
its council and executives for its next termat its 35th Annual General Meeting heldat the Hilton Hotel in Port Moresby lastweek. President for the Chamber Mr.

Anthony Smaré and Senior Vice President- Mr. Richard Kassman (Total Energies) were re-elected unopposed. Vice
President Philip Samar (K92 Mining) was
elected as Vice President, and Mr. Harold
Duigu (Ok Tedi Mining Limited), Hitesh
Lal (Exxon Mobil), Stanley Komunt (Newcrest Mining Limited (Lihir) were elected as Councillors. Also returning to the
Chamber unopposed is Associated Council Member Mr. Mark McMonagle, CEO of
Sun Engineering.
In his address, President of the Chamber, Mr. Anthony Smaré welcomed the
new councilors saying another busy year
lies ahead for the Chamber with key
events including the 2023 PNG Community Affairs & National Content Conference
and Exhibition in August in Lae, the Asia
PNG Investment Conference planned forHong Kong in October followed by thePNG Energy and Resources Investment
Conference in December, amongst otherpolicy matters the Chamber is working onwith all its members and stakeholders. Mr
Smaré also flagged the special resolutions
which will be put to the membership for
approval in the next few months for thechange of the Chamber’s name to PNG
Chamber of Resources and Energy (PNGCORE) and changes to the constitution to
update the Chamber’s governance, structure, and operations to better serve its
members and achieve its objectives.
The Chambers’ Chief Operating Officer, Mrs. Pansy Taueni-Sialis in her presentation on Repositioning the Chamber alsoemphasized that national events like theupcoming Community Affairs & National
Content Conference expands robust dialogue between all stakeholders and justlike its Investment Conferences, it aims tobuild the platform between governmentand other stakeholders to identify investment ability and restore financial stability
in the PNG Economy.“ Such engagements
between government and stakeholders
only become fruitful when policies arefriendly and conducive for our stakeholders and investors. “
The Chambers’ Policy Manager Ms.
Gretel Orake in making clear the Chambers’ stance on policy matters, stressed
the importance of Member input as being critical for the industry in terms ofthe narrative surrounding policy matters.
“Member input is critical as it yields mutual benefits for all involved. And since theChamber is uniquely positioned within
the industry, the Chamber and its members have a role to play by sharpening thelanguage it uses when it comes to policy
matters. The narrative we use must harness, represent, advocate, and enhance
the interests of the industry.”

INVESTMENT PROMOTION AUTHORITY | Page 5

LEGALUP-DATE
Associations Incorporation Act 2023
The Associations Incorporation Act is another legal review work undertaken by the Investment Promotion Authority (IPA). This legislation has not changed since its passage in 1966 and it is simply outdated.
The passing of the new Act replaces/repeals the old Act altogether.
The IPA has proposed major changes that would update the Act to meet the modern online electronic
registry system and other Government development plans. The review of the Act will also address issues
that have been identified as problematic for local associations and to bring the Act into compliance withinternational Anti-Money Laundering (AML) mandates which is aimed at bringing a higher level of transparency and accountability to this entity type.
The Associations Incorporation Act of 2023 was passed by Parliament in January this year and certified by
Parliament on 29th May 2023.

Why do I need to register
my Trade Mark?
A Trade Mark is a sign used or proposed to be usedin relation to goods or services to differentiatethese goods or services of one entity/ businessfrom other entities in the course of trade.
Generally, a sign can be anything from a visible
distinctive word or words, letter (s), numeral(number), drawing, picture, shape, color,
logotype, label or a combination of one or all ofthese things.

trade mark.
Examples of the logos or trademarks are displayed
below. They are legally protected and cannot be
used by anyone else.
For more Information on Intellectual Property, Contact:Tel:(675) 321 7311 / 308 4432 / 321 3900

Email:

registrar.ipopng@ipa.gov.pg

Website: www.ipopng.gov.pg

It is important to protect a trade mark byobtaining a registration from the Intellectual
Property Office-PNG (IPOPNG). The main purpose
is to provide the owner of a trade mark, the legal
title to having exclusive use of its trade mark forthe goods and services for which it is registered,and to protect against unauthorized use of the

INVESTMENT PROMOTION AUTHORITY | Page 6

ET’S HEAR IT!

L

A1 LINKS LIMITED
supports schools
schools
There is no substitute for quality
A1 Links Limited, a 100 percent nationally owned company is one among many local companies that has been supporting disadvantaged schools in the National Capital District and Central Province with much needed office equipment like printers, copiers,
ink and stationeries.
The company was incorporated in 2017 and has been supplying total office equipment solutions ranging from office consumables,
multi-functional printers to computers.
It has a branch in Lae, Morobe Province and here in Port Moresby. It is anticipating on expanding to other provincial centres as
well.
					
It has the motto “there is no substitute for quality’’.
					From humble beginnings, owner of A1 Links Limited, Helen Soh who hails from 							
Mendi in the Southern Highlands Province rose to where she is now.
						
It takes guts and sweat for someone, especially a woman to get to a point in						
life and that was what local business woman, Helen did. Juggling family 								
life as a mother and a business owner.
						
Challenges are faced everyday and one much be thick- skinned to 									overcome these challenges.
							A1 Link’s mission is to equip clients with high quality products and 								
services while maintaining honesty, integrity and providing 								
excellent customer service. The products that the company currently							supply include Ink and Toners, multi-functional printers, computers,							paper and stationeries.
							The company has a Corporate and Social Responsibility strategy 							in place where they also give support to disadvantaged schools 								and have been supporting local initiatives and events in various 									communities. The company also provides sustainable benefits to its							stakeholders and suppliers.
						In 2019, the company embarked on a school roll out program where it 							
gives support to disadvantaged schools by supplying them with office 								
equipment that will help schools with their administration work.
						
Laloki Secondary School in Central Province and Evadanah and Ward Strip 						
Primary Schools were among the beneficiaries of this support. The schools roll 							out program is an annual event where lucky schools receive free donations of 							office equipment.
The company also embraces the initiative to look after the environment and is committed to continue to contribute to the development of the country by working in partnership with State owned enterprises, NGOs, corporate bodies and other businesshouses and development partners.
A1 Links Limited is also a member of the PNG Women’s Chamber of Commerce and Industry and with the owner being an aspiring
local business woman, the company donated office equipment (Desk-top Computer, Printer, A4 paper realms and start-up toners
cartridges) to the Office of PNG Women's Chamber of Commerce valued at K6, 240.00.
INVESTMENT PROMOTION AUTHORITY | Page 7

IPA

NOTICE BOARD

Office of the Registrar of Companies

NOTICE FOR BUSINESS NAMES OWNERSThis is a notice to all Business Names (BN) owners to renew your business names if it has expired.
You may have noticed the status of several BNs that should have expired but are still appearing as “registered” in the old online registry system. Upon data migration from the old online registry system to the current new registry system, their status now appears as “Not Yet”. This is because the Registrar of Companies
Office (ROC) has given opportunity for a certain grace period for BN owners to update their records andapply for renewal of the BNs at no cost except for the normal payment of K150 for the renewal application.
As per our notice on the website at www.ipa.gov.pg, the grace period will end on 31st August 2023 and all
BNs with an old expiry date will be expired on 1 September 2023; and their status will be shown as“Cancelled”. The owners of these businesses can apply for “Revocation of Cancellation”, pay a penalty feeof K250 and then proceed to update the records (free) and apply for renewal at the usual fee of K150. The
benefit of this process is that BNs will maintain the same registration number.
Please note that by law since 2014, a penalty fee of K250 is applicable for BN owners who fail to renew theirBNs. However, this was not applied in the previous Online Registry System (ORS) and the current ORS has
now been corrected to apply the penalty fee.
Important reminder is that these penalty fees are not applicable if the business owners renew their BN on
time. It’s also important to make sure the requirements under the BN Act are complied with at all times toavoid any inconveniences.
To make sure that business owners are not inconvenienced, the ROC will issue timely notices forbusiness owners to make sure they file their renewal application on time. Business owners must ensure your emails are active and regularly monitored as notices will be sent to your registered email addresses.
To avoid any inconvenience, do apply now to renew your BN to avoid any inconvenience.
HOW TO RENEW YOUR BUSINESS NAME
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.

You must CREATE an Online Account if you don’t have one.
Go to www.ipa.gov.pg then go to Online Registries and click on Business Entities
Click on CREATE on top right corner of the page you are in and fill details.
You will be issued with your own dashboard.
From that dashboard do ENTITY Search on your business name – check left side of your dashboard.
Once you retrieve your correct business name click on Request Authority. Located on top right of your dashboard. Fill in details and submit. An authorized user must be the business owner(s) or anyone the owner(s)consents to in writing.
The request will be sent for review by the Registrar and if successful you will receive a notification via email.
Once you have authority it is compulsory for you to do a Transitional Update. This will allow you to update therecords and provide any missing information. This is free.
If transitional update is complete you can proceed to renew your business name.
Click on NEW FILING on your dashboard.
Select annual return or Financial Position and initiate filings by submitting AR-20 (Renewal of Business Nameregistration).
You will receive a Registration certificate and an extract now known as the Certificate of Good Standing 		
(COGS) on your email and on your dashboard.

For further information, please do not hesitate to call our team on telephone numbers 308 4439 or 308 4443 or email
ipaonline@ipa.gov.pg

Thank you
HARRIET KOKIVA
Acting Registrar of Companies
INVESTMENT PROMOTION AUTHORITY | Page 8

OPPORTUNITYKNOCKSKOLOLOBE COCOA DEALERS
Kololobe Cocoa Dealers, is a project located at Ratavul

2, Toma-Vunadidir Local Level Government, GazelleDistrict of East New Britain Province.

The project is currently looking at establishing a
Joint Venture partnership with an overseas investor.
The project is looking at a total investment of 22.2K
EUR (15.4K EUR).
Total Investment Opportunity Type- Joint
VentureProjected Annual Sales- 1.1K EUR
The project was initiated on the 1st of June 2021
to participate in the Papua New Guinea and East
New Britain Province Development Projects using
the Public and Private Partnership or (PPP) concept
to boost the local cash flow into the economy ofthe province and the country.
The business is currently participating in a stringof business activities. The current business activity
is cocoa buying from locals and is now looking atexporting to overseas markets. The business’ maininterest is seeking an investor to export directly tothe main source (manufacturers) overseas.
Also, the joint venture partnership with any interested investor will lead towards the expansion of
the project’s current set up. The project is also looking at venturing into Downstream processing in
the long run.
The current production volume is 2,800 plus of cocoa bags. The project is looking at increasing its
production volume in the coming months.
The project currently plays significant roles in alleviating poverty, encouraging social welfare, encouraging gender equality, and promoting peaceand harmony with the local wards, LLGs, districts,
and the entire province. The project also establishes partnerships, networks, and linkages with thedevelopment partners to create a workable environment for our local cocoa farmers and smallholders.
For more information please contact the IPA office to getthrough the local contact- Anthony Kove KARANI

Email:
Phone: 308 4400/ 321 7311

INVESTMENT PROMOTION AUTHORITY | Page 9

Q

UESTIONTIME

Can I use my old online account to do lodgements???
Yes, you can.
If you had an online account in the Old Rregistry System, your account will now be migrated to the new system. All you
have to do now is to create a new password and confirm your account details.

Migrating an Existing AccountPlease follow the steps below to update your existing account.
1.

Click the Log In button at the top of the Registry Home Page.

2.

In the dialog that appears, click the Reset my Password link.

3.

Enter either your Username or Email on record with the old registry and then click Submit.

4. Monitor your email for the password reset message and follow the instructions provided. You will be directed to reset yourpassword and then do data refresh on your account.
Data Refresh
In order to ensure that the data migrated into the new system is accurate and correct, you will be required to review yourClient Account and User Account details after you reset your password. This process will only occur on your first login to the
new system.
Your Client Account information will be displayed, and you will have the ability to correct any errors and otherwise update any
information. Click Save to verify the changes to your account. Your User Account information will then be displayed, which canbe revised if as necessary in the same manner as the Client Account. When you are satisfied with your account details pleaseclick Save to proceed into the Registry.

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

nlurang@ipa.gov.pg

We will publish a selection of questions and our answers
in each issue of Opportunity.

We have covered the globe
and we’re expanding.
expandingDisclaimer > 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.
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