back to: COUNCIL FOCUS main page
National and International Ecomonic Affairs
BCPNG believes that, through our members renewed enthusiasm for investment, the nation’s economic outlook is promising.
There is continued improvement in economic indicators in Papua New Guinea and we endorse the sound economic and fiscal policy being exercised by both the Papua New Guinea Government and the Bank of Papua New Guinea. This has led to a continued improvement in the business-enabling environment and an encouraging climate for private sector investment.
Notwithstanding the excellent work being carried out by the Papua New Guinea Government on removing impediments to business, we are working for accelerated reform on the issue of labour market and immigration policy and procedures.
Along with the Australia PNG Business Council, we are working to establish a dialogue on reforms to the Australian labour market to facilitate access by Papua New Guineans as a first step towards wider economic integration.
While the current fiscal structure in place for investment in the resources sector is globally competitive following recent policy changes, we encourage the PNG Government to ensure that its overall taxation and investment policies are continually aimed at further improving the country’s globally competitive position for all key sectors.
We believe that ongoing sustainable economic growth might benefit from a refocus of development programs to include support for:
- agriculture
- forestry
- tourism
- power
- telecommunications
- shipping
- infrastructure development
- technical education.
We acknowledge the expressed desire of the Papua New Guinea Government to retain ownership of national infrastructure, and (along with the Australia PNG Business Council) have offered to work with government to develop models to enable the effective financing and operation of national infrastructure such as:
- roads
- telecommunications
- water
- power
- ports and harbours
- major public hospitals.
Committees
Through the Consultative Implementation and Monitoring Council (CIMC), we are also involved in several Committees whose object is to work towards national and international economic affairs.
These are the:
- Commerce and Services Committee
- Informal Sector Committee
For more information about these Committees, click here. |