IPA organises programme for East New Britain SMEs

Business

THE Investment Promotion Authority’s outreach programme in East New Britain last week was attended by small-to-medium entrepreneurs.
During a three-day visit, the IPA team conducted awareness in Central Gazelle and Rapopo Plantation Resort.
Acting managing director Clarence Hoot said the programme was themed “promoting a conducive business environment in the provinces”.
He said IPA was a multi-function organisation promoting businesses in PNG, and informing the business community about investment opportunities and the export markets available overseas.
During a workshop in Gazelle on Thursday, it was revealed that the wholesale and retail business was high in ENB.
A concern was raised that it was too high compared to other business activities, and bringing in Asians who ran the businesses.
Hoot said under the IPA Act, after a company was registered, there was a second process that all foreign investors undertook to get a foreign enterprise certificate.
He said the certificate detailed what activity the foreigners would go into and where to operate from.
“The figures are high for ENB in the wholesale and retail sector because there is a huge number of investments coming from foreigners,” Hoot said.
Entrepreneurs are urged to come up with good project ideas that IPA could assist them with to build their business interests.

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