Port Moresby Chamber of Commerce and Industry holds 67th Annual General Meeting

by PNG Business News - November 28, 2022

Photo: Executives and committee members and members of POMCCI at the annual general meeting at Lamana

The Port Moresby Chamber of Commerce and Industry (POM CCI) held its 67th Annual General Meeting at the Lamana Hotel on the 24th of November 2022 , present to witness the occasion were its members, executives and various stakeholders. 

The meeting was officially opened by the President and Master of Ceremony Mr. Rio Fiocco who gave his opening remarks and report. He thanked all the POM CCI staff for their hard work this year despite the challenges faced by covid and other changes in the administration. Some of their achievements highlighted included the recruitment of two graduate accountants from the IBS University and the employment of its new membership officer.

Mr. Rio Fiocco stated that by 2023 the chamber will be working with Total PNG to pre-qualify its members to be contracted to early works stage of the Papua LNG project .

"All members who have issues affecting their business can feel free to come and see us so we can lobby for you through NCD or if it  government related we will also lobby for you through the PNG Chamber of Commerce and Industry", said Mr. Rio Fiocco. 

The treasurer of POM CCI Ms. Akae Beach presented the chambers Financial Report stating that it had made a net surplus of k114,020 which is a 12% net profit margin despite not recouping most of its membership fees. 

"The Port Moresby Chamber of Commerce and Industry Inc is in good financial position and our net asset stand at K1.49m compared with K1.38m last year , a healthy increase of 8 %. Whilst conditions remain challenging , I am confident that the chamber will continue to be in overall surplus in 2022 as we continue maintaining our current strategy ( with an increase focus on both the Corporate and SME sectors) whilst continuous improvement in our financial systems,  increase online and physical marketing efforts and increase member initiatives" stated Ms. Akea Beach.

Ms. Akae Beach concluded that she will be leaving the chamber by the end of the year but will still support the chamber within her own capacity. 



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