Investors to reserve decisions


THERE will not be major capital investments during the general elections, says Port Moresby Chamber of Commerce and Industry (POMCCI) president Rio Fiocco.
Fiocco said this when commenting on business expectations in Port Moresby during the June elections that investors would take a “wait and see approach”.
He also said the business community anticipated a smooth election in NCD with no major security issues.
“Traditionally, investors will take a wait-and-see approach in the lead up to the elections,” Fiocco said.
“This is to see what shape the Government takes so we don’t anticipate that they’ll be any major capital investment decisions made basically from the time of the issuance of writs until when the election results are known.
“At this stage, there is a NCD election committee to review how the elections will happen in the city and the chamber (POMCCI) is taking an active observer status on that.
“We will wait and see what the plan for polling in the city is and whether it’s going to be on one day or on consecutive days, we have to wait and see.
“Businesses will plan accordingly with security but of course we will be waiting to see how the Government organises the call out of the defence force and the correctional service to assist the polling and the manning of the polling and everything.
“We don’t anticipate any real problems here in the nation’s capital.”