Opposition Sounds Alarm on PNG's Plan to End Exams

 The PNG Investment Promotion Authority (IPA) has officially handed over its authority to the Bougainville Government, allowing the Autonomous Bougainville Government (ABG) to manage business and company registrations along with other related functions.

A memorandum of understanding (MoU) was signed last Tuesday in Buka, granting the ABG the power to oversee business registration processes, delegate requirements, and generate revenue through these activities. This marks a significant shift in responsibilities previously handled by the PNG IPA. Present at the signing were IPA Managing Director Clarence Hoot, Chief Secretary Kearnneth Nanei, and Department of Commerce, Trade and Industry and Economic Development Director Raymond Moworu.

PNG Investment Promotion Authority Transfers Powers to Bougainville Government

Clarence Hoot explained that consultations with Bougainville’s private sector and business houses are ongoing. He emphasized that the transfer of powers is expected to enhance economic development in Bougainville by creating a comprehensive registry for businesses operating in the region.

The PNG IPA, which operates an office in Buka, is tasked with promoting and facilitating investment across Papua New Guinea while regulating the business sector. It fulfills this role through various programs and services under its authority.

Chief Secretary Nanei applauded the collaborative efforts of the IPA, the Department of Commerce, Trade and Industry, and the private sector in ensuring the successful transfer of powers. He described the agreement as a milestone for Bougainville’s economic autonomy.

Discussions on transferring these powers from the PNG IPA to the ABG began in 2024. Following the MoU signing, a workshop was organized by the IPA in partnership with the Department of Commerce, Trade and Industry. The workshop aimed to familiarize Bougainville’s private sector with the business services now under ABG’s management.

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Opposition Sounds Alarm on PNG's Plan to End Exams