On this episode of Business PNG, the Independent Consumer and Competition Commission (ICCC) is aware of the recent announcement by Exxon-Mobil to acquire InterOil Limited, and state that the proposed acquisition may raise competition issues under Section 69 of the ICCC Act.
The Act states that acquisitions of businesses or shares in a business are prohibited if the acquisition would have, or be likely to have, the effect of substantially lessening competition in a market in PNG.
We speak to Commissioner of the ICCC, Paulus Ain, about the commission’s concerns and the adverse effect this may have.
Also on the episode our correspondent, Fabian Hakalits, follows the inaugural Chocolate festival in Arawa, in the Autonomous Region of Bougainville.
According to the Autonomous Bougainville Government, the Chocolate Festival is a platform for boosting the region’s cocoa industry.
Continuing our foray at business opportunities in Bougainville, we feature the budding, Floriculture Industry, popular amongst the women folk.