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 office has been relocated to the “IPA Haus” along Munidubu Street, at the corner of Lawes Road and Champion Parade in
Konedobu from its former offices in Credit Corporation Building and the Monian Tower in Town.
The relocation is part of IPA’s plan to consolidate all its operations under one roof and to better manage its programs under the recent policy changes to
the institution.
The Investment Promotion Authority advises that as a matter of policy change, it will no longer accept cash payments at its new office located at IPA Haus, Munidubu Road, (corner of Lawes Road and Champion Parade) Konedobu.
Code 236 -Aglive Suppliers Limited is seeking joint venture partner to assist in terms of finance, marketing and logistics to do direct exporting of cocoa to trade markets overseas. They have been selling their cocoa to foreign own companies based on the island for the last fifty years.
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.
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Code 237 - Aqualeax Limited is seeking a joint venture partner in fishing industry.
Sealand Commercial Fishing Project- Code 286
Sealand Investment Limited is a 100% nationally owned company with it’s registered office located in Madang, Madang Province, Papua New Guinea.