• PNG Business News

PNG PM Marape considers lifting Restrictions to Foreign Investors



Papua New Guinea Prime Minister, James Marape, MP intends to open up the country for business despite the threat of Coronavirus (COVID-19) globally.


“The COVID-19 disease must not kill the country’s economy and the Marape-Steven Government’s service delivery to our people. Under the National Pandemic Act, specifically on localised control based on medical evidence will now be exercised but our people’s livelihood, commerce and trade must continue on in our country,” the Prime

Minister Marape said.

Thus, the Government is now trialling the ‘New Normal’ or ‘Niupla Pasin’ that allows for non COVID-19 affected areas and sectors to continue functioning. And in respect to the economy; there are travel protocols now available for those seeking entry into our country for commercial and or for business purpose.


The Prime Minister mentioned that yesterday (23/06/20) in relation to the arrival of the four (4) Chinese businessmen adding that the COVID-19 travel requirements were implemented and proper quarantine measures were prescribed before they were allowed into PNG.


“This now will apply to any business delegation who wishes to travel to PNG for investment purpose."


Meanwhile, Prime Minister Marape and Mining Minister Johnson Tuke are in Lae today for the initial preliminary meeting with Morobe Provincial Government and landowners of Wafi Golpu Mining areas on basic principles of distributing benefits as the National Government prepares to net project developers.


In light of recent amendments to Mining Act and Oil and Gas Act, Prime Minister Marape assures all existing investors that his Government is not changing the goal post. However, the present Mining Act will govern the framework of the Wafi Golpu Mining contract that should be secured after negotiations.


The Marape-Steven Government wants to advance Wafi Golpu, Porgera, P’Nyang and Pasca projects before the third quarter of this year in as far as these projects development is concerned, the Prime Minister

said.


“And to our provincial governments and landowners in those resource areas, please be rest assured that our Government will give you a fairer share within what the State secures from negotiations with developers,” Prime Minister Marape said.


Source: https://news.pngfacts.com/2020/06/png-pm-marape-considers-lifting.html

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