Indian investors eye PNG business

By MERESEINI MARAU in New Delhi
INVESTORS from India have shown interest in setting up businesses in Papua New Guinea, according to the Investment Promotion Authority.
IPA official Peter Daroa said in New Delhi that one of the potential investors from New Delhi would be arriving in PNG next month to discuss business options, possibly in the energy sector.
Daroa said the investment mission in New Delhi was a success as they managed to get a lot of interest from potential investors.
The delegation was in New Delhi to secure memorandum of understanding and memorandum of agreement on investment for stakeholder representatives and in the local projects they promoted there.
The PNG High Commission in New Delhi, in collaboration with the IPA, organised a seminar on investment climate and opportunities in PNG.
The delegation included officials from IPA, PNG Power, Mineral Resources Development Company, Cocoa Board and National Fisheries Authority.
They were in New Delhi last week for an investment mission.
They also had a booth for PNG at the 32nd India International Trade Fair, which attracted participants from India and around the world.
IITF, the largest trade fair in that part of the world, is an annual event held from Nov 14 to 27.