MoU to combat illegal activities

The PNG Investment Promotion Authority (IPA) and the National Gaming Control Board (NGCB) have signed a Memorandum of Understanding (MOU) to combat illegal business activities in the country's gaming industry.

The MOU outlines a framework for information sharing and cooperation to effectively tackle illegal activities and apprehend offenders who violate relevant PNG business laws.

NGCB Chief Operating Officer, Paul Ketombing, stated that the agreement will enable both organizations to conduct joint programs and awareness campaigns to ensure that businesses follow proper processes, regulate and monitor existing business entities owned by foreign nationals or foreign nationals partnering with PNG nationals.

He added that as the gaming industry is being diversified and new games are being introduced in the country, there is a need for prudent monitoring and regulation of businesses who are keen to venture or tap into gaming businesses.

IPA Managing Director, Clarence Hoot, expressed his satisfaction with the partnership, stating that the gaming industry has the potential to generate revenue for the country.

He further stated that apart from compliance matters, the MOU will enable IPA to work with NGCB to collect reliable data on the industry for appropriate profiling.

Mr. Hoot emphasized that the IPA is keen on having MOUs with other agencies and that this partnership adds to their network of agencies for collaboration and cooperation in the interest of the country's development aspirations.

Loop author