THE Investment Promotion Authority (IPA) will be conducting a database survey and spot inspection exercise in the National Capital District to collect business data and ensure compliance.
The survey will collect economic data and information from businesses in NCD to ensure they comply with the legislations administered by the IPA and other government regulatory agencies, said the authority’s acting managing director, Anna Marikawa.
The last survey was done in 2016.
The survey cannot be conducted in centres outside Port Moresby and Lae because of funding constraints, said the authority’s acting director of Investor Servicing and Promotions, Daroa Peter.
Marikawa said the month-long exercise starts next week and will involve government agencies like police, National Capital District Commission, Internal Revenue Commission, PNG Power Limited and Papua New Guinea Independent Consumer and Competition Commission.
“The Investment Promotion Authority has also invited the SME Corporation to join in the exercise so that they can use this platform to collect data on existing SMEs in Port Moresby,” Marikawa said.
“A database survey questionnaire will be issued during this inspection exercise containing the relevant questions in relation to compliance issues.
“During this exercise company or business owners, shareholders and directors are required to meet and cooperate with the survey and spot-inspection team.”
He said businesses and business owners are required to providethe following:
- Certificate of incorporation as issued by IPA’s Registrar of Companies;
- foreign companies to present the certificate to carry on business in the country as issued by the IPA; and
- The presentation of any other licences and permits issued by other regulatory agencies as required by the Government.