THE Papua New Guinea Investment Promotion Authority (IPA) has signed a Memorandum of Understanding (MoU) with the National Procurement Commission (NPC) to work together within their respective roles to exchange information, facilitate and monitor business activities by nationals and foreigners in order to deliver their mandates diligently.
The MoU was signed by the Managing Director of the IPA Mr. Clarence Hoot and the NPC Acting Chief Executive Officer Mr. Joe Sapa recently.
The NPC is mandated by Government to facilitate the public procurement process in the country by national, citizen and foreign enterprises through the procurement process in compliance with the Public Finances Management Act.
The IPA on the other hand is mandated to promote and facilitate investment in the country by national, citizen and foreign enterprises through the certification and registration of such enterprises.
IPA Managing Director Mr. Clarence Hoot said: “Given the current business environment and in particular the challenges as well as opportunities in the rural areas, the IPA as the investment promotion arm of Government and key business regulator has been advocating and pursuing bringing its services closer to the business community and people including those in the rural areas. One of the key strategies is through collaboration with other government agencies and other stakeholders through MoUs. The MoU with NPC is 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 to name a few.
The MoUs with various provinces in the country enables the provincial administrations in partnership with the IPA to deliver IPA services through the establishment of IPA Help Desks in the respective provinces.
