• PNG Business News

Government targets 200 investors in term

Prime Minister James Marape said his government is set on attracting over 200 new foreign investors into the country from around the world before the end of the tenth parliament.

He made the comments in response to queries by the press during his state visit to Australia highlighting his stance on the economy and his campaign to take back PNG.

The PM stated that no country will be left out in the economic stance taken by his government. “In the greater foreign policy context, we are friends to all and enemies to none.

“But we are in the business of attracting genuine businesses into the country. In fact our local target as we set now into the next two or three years, we want to bring in over 200 new foreign investors into the country.

“Whether they are from China, Australia or right across the world is inconsequential and irrelevant to us.

“We will provide an equal playing field to all investors as long as they subscribe to rules and regulations of our country.

“Chinese investors will not receive any special treatment and preference. Just like Australian investors will not receive any special favours and treatment.

He stated that only genuine investors will be welcomed within the set parameters he outlined briefly, making reference to the proposed Foreign Investment bill still before parliament.

“Our government is looking at tailoring specific investment policies to ensure that as investors come in they win for their shareholders but also for our people.

“Taking back PNG is not a strange Idea. It is about empowering our citizens to participate in business activities themselves, instead of being spectators.

“We have different layers and levels of businesses and in the first instance those who want to come into our country, we will be policing our investment front. You must have minimum K10 million or more to come into our country.

“We are so used to consultants and visitors coming in with almost nothing and later on 10 to 20 years later they are walking out with good businesses.

“So in the business of attracting genuine and honest businessmen and women into our country and that is the policy vision of taking back PNG is all about.”

Source: https://postcourier.com.pg/government-targets-200-investors-term/

PNG Business News

2nd Floor, Suite 6,

Corinthian Plaza Building,

Paseo De Roxas, Legaspi Village,

Makati, Philippines

Phone: +632 251 5599

Subscribe to Our Newsletter

  • White Facebook Icon

© PNG Business News