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 Investment Promotion Authority wishes to advise its valued clients and the general public that the organization will be undergoing an office relocation exercise to its new office at Lawes Road, Konedobu at the end of May 2010.
This is to consolidate all our services in one location for the benefit of our valued customers.During this period, clients should expect a minimized level of service, as each respective office prepare to relocate.
We have taken steps to ensure that the exercise does not disrupt vital services delivered from the 4th Floor, Monian Tower, and such other services such as registry, lodgments including foreign certification and intellectual property services are maintained during this transition period.
However, certain functions such as facilitation and promotion may be scaled down.
Code 249 - Fishing is a very lucrative investment and the licenses are pending issuance as soon as two prawns' trawlers are secured . Licenses are specifically for the rich Torres Trait Leg area. The company is seeking a joint venture partner in fishing industry and fishing trawlers.
Code 256 - The Gabina Oruba Lahara Plantation is owned by the Abau family through their family company, Lahara Plantations Limited. The Rubber Plantation has a land area of 316.059 hectares of which 80 plus hectares are planted with matured rubber trees. The plantation is located on portion 392 of Abau Milinch, Domara, and Cape Rodney, in the land is an Agriculture Lease area of which the title is held by the Abau Family through their company, Lahara Plantation Limited. The company is seeking a development partner to partner on a joint venture basis to revive, expand and manage the plantation and market rubber.
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 216 - Lending: CASH FINANCE is a newly established business venture purposely to provide money lending services to general employees and small entrepreneurs. Its main objectives is to lend finance to landowners companies at the Harmony Gold Mining area of Wau, Morobe Province.
Thus CASH FINANCE is seeking interested investor(s) or joint venture partners who would invest by way of contributing start up capital to commence the lending services.
The Mt Kare Gold Project – Code 313
An on going exploration program currently in progress at Mt Kare includes a compilation of all previous exploration data, an airborne geophysical survey by Aerodat Inc., geological mapping, grid soil auger sampling, trenching and diamond drilling (45 holes released).
Code 360 - OICAD is a community based organization of Ogayo tribal area to promote and initiate community based development programs on behalf of its members. The joint venture project program will support and enhance appropriate component of the project initiative, where, OICAD has support and assistance from other donor rewards; however, due to the required criteria's not all possible, in terms of infrastructure and equipments. OICAD is seeking joint venture partner in the focal area of land and sea transportation. The paramount transport avenue is tractors and trailers and/or a cartage trucks in order to carter for moving of forest products (sawn timbers) and agricultural products as well as copra and cocoa. The ongoing forestry sector will expand over period of time in the vast untapped rainforest area of the Koreaf Village Community'a natural resources land.
Code: 318 - The SEMABO Forestry Management Area (FMA) has a total forested area of 53, 000 hectares. It is a declared stand alone project located in the Balimo District of Western Province.
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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.
