Investor confidence reaffirmed

Prime Minister Peter O’Neill has reaffirmed to the business community the Government's intention to maintain investor confidence in the country.

In his first official engagement at the Prime Minister’s Breakfast in Port Moresby, O’Neill said the government will continue to work closely with the business community.

He admitted that while there will be policy reforms,  they will not introduce policies that will harm that investment confidence in the country.

O’Neill highlighted the foreign exchange issues which currently affect many businesses and companies.

He said they have total confidence in the Bank of PNG in handling the issue and will continue to liaise with the business community regarding the problem.

He also highlighted key aspects of the Alotau Accord, stressing the Government's focus to agriculture and tourism,  which will be made priorities in this Parliament.

A supplementary budget will be handed down soon and O’Neill said there won't be any tax reforms that will affect the people and business community.

Regulatory arms however,  will be urged to enforce compliances, mainly tax to ensure those not keeping their end of the deal to pay tax to the state.

The breakfast was attended by heads of the national and multinational companies in Papua New Guinea.

Cedric Patjole