The Papua New Guinea Investment Promotion Authority (IPA) has signed a Memorandum of Understanding with the National Procurement Commission (NPC) to work together to facilitate and monitor business activities by nationals and foreigners in order to deliver their mandates diligently.
IPA Managing Director Mr. Clarence Hoot said: “Given the current business environment and challenges as well as opportunities in the rural areas, the IPA has been advocating and pursuing bringing its services closer to the business community and people in the rural areas. One of the key strategies is through collaboration with other government agencies and other stakeholders through MOUs.
He said that this agreement was yet another milestone for the IPA to work together to ensure that business interests are safe-guarded whilst at the same time their operations are in compliance with the business laws of the country.
A key understanding in the partnership is for the two organizations to deliver on behalf of the State, their respective mandated functions through timely and effective exchange of information and complement each other in the performance of their respective mandated functions and duties.
The IPA has similar MOUs with Provincial Administrations and other government agencies such as the Internal Revenue Commission, PNG Immigration and Citizenship Services, National Cultural Commission, the National Gaming Control Board, the PNG Royal Constabulary Fraud Directorate and others.
