Proposed changes to the Investment Promotion Act

Consultations on the recent proposed changes ended in early April 2019.
The main aim of these changes is to achieve Government’s policy objective of protecting MSMEs that are owned and operated by citizens. In summary, the following changes are being proposed:

  • Better definition of IPA roles and responsibilities
  • New requirement for minimum investment level
  • Clearer rules for reserving businesses that are citizen-owned and operated
  • New rules for local-foreign partnerships in businesses
  • Improved process for reviewing reserved and restricted activities
  • Improved foreign certification process
  • Better compliance and enforcement
  • These proposals are currently before Government for consideration and endorsement.

    For more information, please email legalreview@ipa.gov.pg