PNG investment seminar whets Japanese appetite

2014-07-06T12:00:00Z

A PNG investment seminar held in Tokyo last week received an overwhelming response from local businesses, reports Pacific Islands Centre (PIC) the Tokyo, Japan-based office of the <b>Pacific Islands Trade &amp; Invest (PT&amp;I)</b> network.<!--more-->

More than 100 businesspeople participated in the event, which was co-organised with Japan International Cooperation Agency (JICA), in cooperation with Japan External Trade Organisation (JETRO), with assistance from PNG Embassy in Tokyo and the Investment Promotion Authority (IPA) of PNG at Shikonkan in Tokyo.

PNG Ambassador to Japan Gabriel Dusava said, “Japan is bound to become PNG’s No.1 Trading partner by 2015.” Ivan Pomaleu, Managing Director of the IPA said, “The investment landscape for Papua New Guinea is ready for Japanese interest and consideration.”

A new PNG Investment Guide (in Japanese) was launched to further drive investment from Japan into PNG. This 42-page, comprehensive Investment Guide is the product of a partnership between the PNG IPA and JICA, Under JICA’s technical cooperation scheme. PIC worked with JICA experts in producing this Japanese edition.

Alois Daton, PNG’s Commissioner for Tax, Internal Revenue Commission provided information on the country’s tax system and incentives that Japanese businesses and investors could avail of.

In his closing remarks, PIC Director Kazuyoshi Ogawa said, “This is the first time an Investment Seminar has been organised jointly by JICA and PIC. We work closely with JICA as well as JETRO to assist private sectors in expanding their business, especially trade and investment.”

Mr. Ogawa will visit PNG this month to facilitate a Business Mission from Japan with 55 members, taking part in Japan Prime Minister Abe’s official visit to Papua New Guinea.