Papua New Guineas enormous and largely
untapped natural resources offer excellent
Coupled with the Government's positive
attitude to foreign investment through the
granting of incentives and concessions,
and the recognition of the private sector's
important contribution to the economic growth,
it is clear why many international companies
have invested in Papua New Guinea.
The Government places a high priority on
the development of mining and petroleum
projects even though this sector is relatively
well-developed. There are huge opportunities
for investors to establish businesses to
provide support for the growing number of
such large-scale projects.
Some of the priority economic sectors offering
investment projects with good potential
for investors include:
Agriculture - production and processing;
Tourism - large and small ventures.
Some of the specific projects offering
good potential for investors (on a joint
venture basis) include:
Poultry farming and processing;
Processing of spices;
Coffee production and export;
Seafood processing and export;
Food production to replace imported goods;
Timber management/production and export;
Building materials and furniture production;
Garment and footwear production;
The manufacture of a wide range of basic
necessities (e.g. processed food, paper
and wood products, metal and glass products);
Printing Services; and
Contractual Cleaning Services.
The Investment Promotion Authority (IPA)
has a growing database of local investment
opportunities and business proposals which
are suitable for foreign investment.
The IPA packages investment proposals for
investors who identify markets and demonstrate
a capacity to invest. It is an excellent
service for investors who have recognised
the potential of Papua New Guinea, but whose
plans are still in the development stages.
The IPA's packaging covers all aspects
of investment, including the detailing of
incentives, land identification and availability,
possible changes to rules or regulations
in cases where they have an effect of hindering
investment in an unreasonable way, sourcing
of raw materials, detailing of associated
investment opportunities which may develop
alongside the main project, and so on.
The IPA has, with the help of consultants,
also developed four resource manuals covering
the areas of Agriculture and Livestock,
Forestry, Fisheries and Manufacturing. The
manuals are part of IPA's drive to attract
investment and trade related opportunties
into Papua New Guinea.They are intended
as information sources for both foreign
and local investors to enable them make
informed decisions on business proposals/projects
in these four sectors.
Currently, most of the market requirements
in Papua New Guinea are satisfied by imports.
As the economy expands in concert with the
large resource projects, so does the number