Govt urged to restore investors’ confidence

THE Government has been advised to restore the confidence of local and foreign investors in the economy.
Institute of National Affairs (INA) executive director Paul Barker told The National that while global market conditions would be a big factor, the Government should provide conditions which welcome investment and provide security for businesses.
Barker also reminded the Government about fixing the problem of decaying infrastructure.
“The objective must be to restore investor confidence in Papua New Guinea investment conditions, both for domestic and foreign investors, to regrow the economy,” he said.
“Some of that will be determined by global market conditions, including the control over the Covid-19 pandemic worldwide.
“But the Government, to establish investor-welcoming conditions to provide the security and confidence for businesses.”
Barker urged the State to focus its limited resources on those functions, and addressing the decaying public infrastructure.