PNGIPA hosts business regulators summit
THE Investment Promotion Authority (IPA PNG) hosted the Business Regulators Summit at PNG University of Technology in Lae on July 8 to 9, bringing together regulators, development partners, provincial administrations, and private-sector representatives for two days of discussion on PNG’s investment and regulatory future.
The theme of the summit was “Balancing National Participation and Global Investment: Reforming Reserved Business Activities for Inclusive Growth”.The summit centred on the Reserved Activities List (RAL) — a framework under the Investment Promotion Act 1992 that reserves certain business sectors for PNG citizens. With IPA proposing to streamline the list from 39 to 11 activities, the discussions highlighted the need to modernise the framework to strengthen enforcement, improve compliance, and better support SMEs.The PNGUoT School of Business contributed through research presentations and a student debate on the future of the RAL.
Students also had the privilege of meeting and networking with some of PNG’s prominent business men and women, gaining firsthand insight into how the RAL affects local entrepreneurs, informal workers, and community livelihoods.
Through the panel discussions and presentations from speakers across different organisations, students learnt a great deal before presenting their own views to the managing director, his team, and the regulators.
The students acknowledged Kamis Yalakun, who served as MC throughout the two-day summit and ensured each session ran smoothly and professionally.It was a privilege for the students to present before Clarence Hoot, the managing director of IPA PNG, who emphasised that reform was not about removing protection, but aligning the RAL with today’s economic realities while strengthening national participation and improving investment quality.A proud moment for Unitech students to be standing alongside business regulators, industry leaders, and development partners, contributing evidence-based insights to a national conversation shaping PNG’s investment dynamics for years to come.The students are grateful to the Investment Promotion Authority PNG for trusting young professionals with a seat at the table and championing inclusive, forward-looking policy reform.
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