PNG learning from APEC economies

Papua New Guinea is learning from other developed economies on investment opportunity and is ready to take a step forward in Investment Policy.

Clarence Hoot, from the Investment Promotion Authority as the host economy Assistant Convener, said Investments attraction, facilitation and retention were among key topics on investment policy covered during the Investment Expects’ Group (IEG) meeting in Port Moresby recently.

He said the meeting touched on areas closely linked to the private sector.

“Most of the issues addressed here are directly to the private sector so at times you’ll find member of the Asia Pacific Cooperation (APEC) Business Advisory Council (ABAC) also sit-in our meeting.”

The host economy brought forward two proposals, one on cruise ship business and the other to look at investment policy.

“For us as the host economy, we have also started on the review of investment policy with the assistance of Asian Development Bank”, said Hoot.

PNG is learning from other developed economies especially on changes in investment strategies and policies, formulation and implementation.

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Freddy Mou