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An economic development expert says, moves by the National Government to restrict foreign investment is not typical of Prime Minister, Peter O'Neill.

The government amended the Takeovers Code in August to include a national interest test for foreign companies, wanting to buy into local companies.

Professor Stephen Howes from the Australian National University, says Prime Minister, O'Neill has a reputation of being business friendly, and such a move may reflect sentiments that locals have not benefited from the resources boom.

"He has to be very careful with policies like this, and the actions that aren't well explained and seem targeted, with policies that seem to be targeted against particular companies. 

"He'll very quickly loose his reputation of being business friendly, and will end up damaging the PNG economy," Professor Howes said.

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