Business Services in Papua New Guinea
Tax regulations
All goods and services paid in Papua New Guinea will include 10% Goods & Services Tax (GST).
Business hours
Government: Monday to Friday 7.45am – 4pm.
Business: Monday to Friday 8am – 4:30pm or 5pm. Saturday 8am – 12 noon. All offices and shops are closed except a few Asian shops and small convenience stores.
Investment opportunities
Papua New Guinea’s enormous and largely untapped natural resources offer excellent investment opportunities. The Government’s positive attitude towards foreign investment, through the granting of incentives and concessions, and the recognition of the private sector’s contribution to economic growth, has boosted the investor confidence of many foreign investors. Some of the priority economic sectors offering investment projects include agriculture (production and processing), fisheries, forestry, mining, tourism – large and small ventures, manufacturing and real estate (a booming industry at the moment).
The Investment Promotion Authority (IPA) has a growing database of local investment opportunities and business proposals that are suitable for foreign investment. The IPA packages investment proposals for investors who identify markets and demonstrate a capacity to invest. It is an excellent service for investors who have recognised the potential of Papua New Guinea, but whose plans are still in the development stages.