The Investment Promotion Authority (IPA) was set up in 1992 to promote and facilitate investment in Papua New Guinea.

The IPA Act provides not only for promotion of investment but also for certification of Foreign Direct Investment in PNG.

It has a Board with strong representation by the private sector to manage and direct its affairs. The main functions of the IPA are:

To provide information to investors in the country and overseas;

To encourage and facilitate investment in the country by assisting investors to obtain all necessary licences, compliances and approvals;

To facilitate the introduction of citizen and foreign investors to each other and to activities and investments of mutual benefit;

To provide a system of certification of a foreign enterprise and to require that a foreign enterprise may only carry on business if so certified;

To monitor the activities of foreign enterprises so as to determine whether or not a foreign enterprise is certified and complies with the terms and conditions of its certificate to carry on business in the country;

To advise the Minister (for Trade and Industry) on policy issues which relate to the Investment Promotion Act;

To maintain a register of foreign investment opportunities;

To facilitate citizen participation in investment and in the ownership of national and foreign enterprises;

To carry out other functions as given to the Investment Promotion Authority; and

To generally do whatever is necessary or convenient for the carrying out of its functions.

The main divisions that interface with the public on a regular basis are:

Business Investment and Export Promotion Division

When in doubt about where to go and what to do regarding any investment activity, this division will be able to assist. It is most often the first point of contact within IPA for investors new to Papua New Guinea. Specifically, this division provides information about investment matters, maintains an investor database for the purposes of facilitating business introductions, manages and maintains the IPA website (www.ipa.gov.pg), undertakes investment missions within the country and abroad, and other general activities which assist investors.

Business and Information Facilitation Division

This division is responsible for all matters relating to certification of foreign enterprises as contained in Part IV of the Investment Promotion Act (Sections 25 to 36). Its officers ensure foreign investors are certified to carry on business in PNG and that only bona fide applications are considered.

When assessing an application by a foreign investor, officers in this division will verify the information supplied by the applicant. Investors should note that these procedures are routine and must be undertaken to comply with the requirements of the Act. Written notice of the grant or refusal of an application for certification must be given to the applicant within 35 working days of the IPA receiving the complete and correct application.

This division also manages the Business Licensing and Information Service (BLIS), a centralized database on the relevant licences, permits and approvals that an enterprise or individual must acquire in order to start and operate a business in PNG. The BLIS is a component of the one-stop-shop policy concept being implemented by the Authority.

Business Registration and Regulation Division

This division houses the Companies Office of PNG, the Securities Commission of PNG and the Intellectual Property Office of PNG.

The Companies Office PNG is responsible for the administration of Papua New Guinea’s key business legislation such as the Companies Act 1997, Business Names Act, Business Groups Incorporation Act and Associations Incorporation Act. This division registers business names and incorporates companies, business groups and associations. It also monitors compliance with legislation concerning the aforementioned structures.

The Securities Commission of PNG was formally established on 2 March 1998 after the Securities Act 1997 was passed by the national parliament on 27 March 1997.

The SCPNG is vested with the regulatory and enforcement powers and functions under the Act, the Takeovers Code 1998 as well as certain provisions of the Companies Act 1997 which vests the SCPNG such powers and functions relating to prospectuses, offering of shares to the public and other related matters. In brief, the SCPNG’s primary function is to regulate the establishment of stock markets and practices in the country relating to the offering of shares to the public. One of the SCPNG’s mission statements is to ensure that there is a fair, efficient and transparent securities market.

The Securities Commission of PNG is a member of the International Organisation of Securities Commissions (IOSCO).

The Intellectual Property Office of Papua New Guine (IPOPNG) is the administrative centre for the administration of the IP system in Papua New Guinea. Previously, the office was known as the Tade Marks Office due to its administration of the Trade Marks Act 1978 Chapter 385. IPOPNG plays a coordinating role in consultation with other enforcement agencies like Customs (Internal Revenue Commission), the Judiciary, Attorney General and the Police, in the administration and enforcement of the IP laws, which include Patents and Industrial Design and Copyright and Neighbouring Rights.

Steps involved in registering a trademark: