An integral component of the Papua New Guinea Government’s industrial development strategy is the promotion of investment in Papua New Guinea. The Investment Promotion Authority, established by an Act of Parliament in 1992, is responsible for this activity. Its focus is centered on attracting new investors to thecountry as well as encouraging existing investors, both foreign and domestic, to expand their investment.
Papua New Guinea, located on the eastern half of the island of New Guinea and 160 kilometers north of Australia, is rich in natural resources. Ranging from oil, gas and gold to fish, forests, coffee and spices, and much, much more, there is great investment potential.
Papua New Guinea comprises both the mainland and some 600 offshore islands and has a total land area of 470,000 square kilometers. PNG’s population currently stands at 5.1 million people with around 15 percent of the population living in the 10 major urban areas.
PNG has a moderate tropical climate with high levels of seasonal rainfall.
The capital of Papua New Guinea is Port Moresby with a population of 255,000 people. The second largest city is the industrial city of Lae in the Morobe Province.
Over 800 different languages are spoken by the people of Papua New Guinea. English is the official language, while Tok Pisin and Motu languages are national languages.
Papua New Guinea gained independence from Australia in 1975.
The country has a well-entrenched democratic system of government. The National Government comprises three independent branches: the executive, the legislature and the judiciary. Executive power is vested in the National Executive Council or Cabinet which comprises the Prime Minister and Ministers.
There are 19 provinces, each governed by a Provincial Government which have similar constitutional arrangements to the National Government and have concurrent power with the latter in areas such as agriculture, business development, town planning, forestry and natural resources. National laws, however, take precedence over provincial laws.
Papua New Guinea is also an active member of the Commonwealth.
Local company seeking a JV partner with technical expertise to assist with developing a proposed cattle farming project.
Code 172- HT Milling Ltd is a landowner company in the Ihu District of the Gulf Province.
The company’s primary objective is to harvest forest, process into sawn timber for both the domestic and export markets.
The landowners have registered ILGs with the Lands Department and have also met certain criteria set by the Papua New Guinea Forest Authority and obtained FIP certificate, TA Permit and have applied for Export License through payment of fees.
They have vast land area of forest that they are looking at processing into sawn timber thus seeking overseas investors/joint venture partners to develop same.
Mekeo Rice Project is a proposed rice development initiative of the customary land owners of Amo Amo Village, Bereina District, Central Province.
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Code 278 - The ranch was initiated in 1981 with the allocation of funds from the Milne Bay Provincial Government. The objective is to raise 20,000 heads of breeder cattle to provide beef for the Milne Bay Province, with an annual turn-off of 6,000 beasts.
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Code 284 - Aiping Coffee Limited aims to establish a coffee factory accomodate a standard line to processing equipment necessary to process coffee from parchment form to polished green beans for bagging and exporting abroad. The business will mainly focus on exporting of processed coffee beans to international markets. It will also look at supplying the domestic market by selling local processing companies that supply the local markets. The marketing plan is to sell the processed green bean to market one processed and packed. The company is seeking a joint venture partner to sell its products overseas.
The Sogeram Agri-Industries is the proposed business entity which we intend to establish and so wish to enter into any form of arrangement with any potential investor to pursue forthwith. The proposal for the business entity stems from an already existing timber harvesting and exporting business venture which had been in operation for over the last 12 years.
