Authority to do compliance check

Business

THE Investment Promotion Authority (IPA) will start a compliance exercise in West New Britain once the state of emergency restrictions are lifted.
Daroa Peter, the investor servicing and promotional division director, said the IPA was revising its work programmes and activities because of the Covid-19.
The survey and spot-inspection exercise is an annual programme to collect business data and ensuring that businesses were complying with PNG business laws.
IPA will be working with the provincial government and officers from government agencies.
“The exercise is still on hold. We are yet to resume discussions with provincial government,” Peter said.
He said the database survey and spot-inspection exercise would cover all businesses operating in Hoskins, Kimbe and Bialla.
The aim is to obtain economic data from businesses in the province to ensure they comply with the various legislations administered by the IPA and other government regulatory agencies.
Provincial commerce division executive manager Bernard Bambai said earlier that there was no control at the moment.
He said investors and businesses were securing land and dealing directly with the landowners.
“What we really lack in the province is to effectively ensure compliance, both in relation to foreign investors going in, and local SMEs,” he said.

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