Foreign firms see link with established PNG businesses important for investment

LINKS with existing businesses in Papua New Guinea are vital to foreign companies wanting to invest in the country, says American Chamber of Commerce in Australia chief executive April Palmerlee.
She was speaking at a breakfast hosted by the Port Moresby Chamber of Commerce and Industry yesterday.
“The American Chamber of Commerce in Australia was founded in 1961,” Palmerlee said. “We have over 500 members now.
“About half of them are American-based companies and the other half are international companies.
“Some of them are Australian-based, in the United Kingdom or elsewhere around the world.
“They are interested in doing business with American companies and understand the innovation and creativity that comes from dealing with American multinationals.
“The companies that are here with us represents some of the most-innovative in the world.
“They bring the ethics of American companies which are ideal for partnerships.”
United States Secretary of State Mike Pompeo, who spoke at the recent Indo-Pacific Business Forum in Washington, also spoke about the benefits of doing business with American companies.
“With American companies, citizens around the world know that what you see is what you get: Honest contracts, honest terms, and no need for off-the-books mischief,” he said.
“For us, the Foreign Corrupt Practices Act is not just a law – it is a point of pride.”