Want to invest in PNG? You'll need a lazy K10 million
01 August 2019
James Marape - Papua New Guinea only wants 'serious investors'
GREGORY AVIRA | FM100
PORT MORESBY - People who intend to set up business in Papua New Guinea must be serious and meet set requirements.
Prime minister James Marape says one of these is that an intending business must open a bank account in PNG with a minimum K10 million deposit.
“Investors must have serious money – a minimum of K10 million to be deposited in a facility with the Central Bank to show you are serious,” said Marape.
The prime minister says he made clear during his recent visit to Australia that this will be PNG’s investment approach.
Marape saids he remains confident in continued reciprocated business investment with Australia.
He thanked the 5,000 plus existing Australian businesses which continue to invest in PNG.
K10 million? Is that all or is it necessary to also tip in a few US dollars to a numbered Swiss bank account?
It was a requisite of a previous Highlands prime minister for $750,000 as his door opener. Em tasol.
Posted by: William Dunlop | 01 August 2019 at 09:17 AM