PNG International Trade and Investment Department to be One-Stop-Shop for Foreign Investments : Marape
Department of International Trade and Investment will be a “one-stop shop” for all large foreign investments in Papua New Guinea, according to Prime Minister James Marape.
This includes large mining and petroleum investments in the country.
PM Marape made this clear in Japan last Tuesday (September 27, 2022), when he met with executives of three large Japanese energy companies, and Japan Development Institute (JDI) which will help to develop special economic zones in PNG.
This is a direct intervention by PM Marape to do away with the bureaucratic red-tape and corruption, through asking for enticements from investors, that has hindered so many foreign investments from happening in PNG over the last 47 years.
International Trade and Investment Minister Hon. Richard Maru was present at all meetings in Japan and later travelled to Singapore and Manila, Philippines, as he starts globetrotting to bring in foreign investments into PNG.
“Minister Maru is the Minister for International Trade and Investment, and although he is not Petroleum Minister, he is involved in any large foreign investments through his ministry and department,” PM Marape said.
“We are having Department of International Trade and Investment as a ‘one-stop shop’ ministry and agency to facilitate all large-scale foreign investments in our country.
“This will take away the problem of you having run around looking for departments.
“Your job is to put forward your proposal to Minister Maru and his job is to ensure that this is ticked off.”
Post a Comment