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.
Visiting Papua New Guinea
The national airline, Air Niugini, flies direct between Port Moresby andthe Australian cities of Cairns and Brisbane, Hong Kong, Singapore, and Narita in Japan.Airlines PNG (formerly Milne Bay Air) also operates direct flights between Port Moresby and the Australian cities of Brisbane and Cairns. Australian airline, Qantas Airways, code-shares with both Air Niugini and Airlines PNG.
Domestic travel is catered for by Air Niugini, Airlines PNG and other third level airlines such as Islands Nationair and Airlink.
Code 255 - The purpose of this project is to expand existing fruit and vegetable production and supply fresh produce nationwide and to niche export markets.
It is also aimed as downstream processing for value added products to supply the niche market which would create employment opportunities and stimulate the economy.
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Code 247 - A project newly tapped into which has a lot of potential in Western Province. In past, the Saratoga (Jardini Sclera phages) fingerlings were illegally sold across the international borderof PNG and Indonesia at a very low prices. Now Ougarhan Investment Limited and Sirong Marine Products got together to operate under the license of Ougarhan Investment Limited tap into this project. The company is seeking a joint venture partner or buyers to buy Saratoga Fingerlings at the better price.
Code 235 - The landowners of the IOMA Block 5 Project Area through their landowner company OTAVO Resources Development Limited is looking for a joint partner in the development of their timber project.
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Code 171- There is land available for lease if you are interested in doing business in the oil palm rich province of West New Britian Province.
A 0.5321 hectares of land on allotment 18 section 61 is available for lease in West New Britain province.
The land is situated in the heart of Kimbe town, along the main highway, and next to main facilities such as the main wharf, police station, banks and the hospital. The airport is 30 minutes drive from Kimbe town.
The land is a state lease for a period of 99 years from December 1999 for business purposes. Copies of the state lease and the survey plan of the land are available for interested investors.
Code: 355 - The business venture has secured a temporary license for Section 1 Lot 27 with an estimated 0.175 hector which was surveyed by an independent surveyor and is now in the process of securing permanent license.
The business is also seeking to secure licenses for Section 1 Lots 25 & 26 which are adjacent to Section 27.
Code 262 - There is no alternative TV broadcaster. Plans for government run TV may not be sustainable in long run and content may be biased in response to recent conflicting media reports. Potential for news/information TV network to focus on business, current event, politics, demands for investigative journalism. Based in Port Moresby with media offices in most urban centers. The media production is seeking a joint venture partnet or investor with technical expertise in Modern technology infrastructure, exposure to world standards/praticed. In both cases, employ team leaders to impart knowlegde and experience to local work force.
Code 290 - The Bechdemer Project was initiated by a local businessman through his company "U75 Exports Ltd" and his interest is in buying locally and exporting bechdemer to china, the larget market for bechdemer.
