Date set for business regulators’ summit


INVESTMENT Promotion Authority (IPA) will be hosting the PNG business regulators’ summit next month, says managing director Clarence Hoot.
The two-day event is scheduled for April 15-16 at Hilton Hotel in Port Moresby under the theme: Harmonising regulations: the value chain and where I fit as a regulator.
“This summit is planned as part of a post-Apec domestication process, aimed at enhancing the productive capacities of our domestic regulations to grow business and investments,” Hoot said.
He said the summit aimed to bring all government bodies and State agencies that played a regulatory role within the business environment.
Hoot said that the authority aimed to produce an outcome report highlighting key reform areas to:

  • To provide a platform for all regulators to discuss arrays of regulatory requirements and impediments that affect business environment in the country;
  • to promote dialogue and awareness, establish visibility and create synergies for a harmonised regulatory system that is productive and responsive to inclusive growth and national development; and
  • To provide policy recommendation for regulatory convergence in exploring one-stop shop information hub for business and investment compliance in Papua New Guinea.

By using the World Bank Doing Business Report as the baseline indicator, topics of the discussions, among others, will focus on:

  • Starting a business;
  • dealing with construction;
  • getting electricity;
  • registering property;
  • getting credit;
  • protecting minority investors;
  • paying taxes;
  • trading across borders;
  • enforcing contracts;
  • resolving insolvency; and
  • Labour market regulation.