Holbrook Resigns as PNG Kumuls Head Coach

 The  Papua New Guinea Investment Promotion Authority (IPA) has urged the government to assist in reviewing the processes for reserved businesses in Papua New Guinea. This call was made by IPA Managing Director Clarance Hoot during his speech at the SME Development Session at CANCONEX24 PNG Resources Week this morning.

Mr. Hoot emphasized the government's legitimate role in fostering economic development, which includes reserving certain business activities for local investors. He highlighted the need to review reserved business activities both broadly and sectorally.

“Reserving business activities needs to be looked at in context both at the broad level and sectoral,” Mr. Hoot stated. He also stressed the importance of regularly monitoring and reviewing these activities to ensure they are effective.

Mr. Hoot suggested that there should be clearer rules for reserving business activities that are citizen-owned and operated. He mentioned ongoing discussions between IPA and the Mineral Resources Authority (MRA) regarding reserving Mechanized Alluvial Mining businesses for local entrepreneurs.

The call to action aims to enhance the effectiveness of reserved business activities and ensure they contribute to the economic development of Papua New Guinea.

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Holbrook Resigns as PNG Kumuls Head Coach