Reserved activities list

Review of RAL to commence

The Investment Promotion Authority (IPA) was tasked by the Government to undertake the review of the RAL in accordance with the amended Investment Promotion Act (IP Act).

The National Parliament passed the Investment Promotion (Amendment) Act 2023 on 11th of January 2023 which was certified on the 29th May 2023.

The amendments, among other reforms, introduced a more structured approach to the determination of the Reserved Activities List (RAL) and introduces the new concept of the Restricted Activities List.

‘Reserved activities list’ still on drawing board

Managing Director, Steven Malken, says over the last 12 months, SMEC has prioritised other activities and had really progressed with the drafting of the bill.

The proposed list aims to reserve specific businesses only for Papua New Guineans.

Since the announcement of the proposed list by former Commerce and Trade Minister, Richard Maru, in 2014, the SME Corporation is yet to begin the identification process.