UNIDO ITPO Tokyo and Pacific Islands Centre (PIC) organized an online seminar titled “The Current and Future Issues of PNG Business Situation in the Aftermath of COVID-19” on 17 July 2020.
Dr. Takehiro Kurosaki, Junior Associate Professor of Tokai University reported that COVID-19 has negative impacts on the tourism industry of the Pacific Island countries including Papua New Guinea (PNG), although the number of cases is quite small as the borders have been closed at an early stage. Currently Japan is one of the largest export partners for PNG, with LNG as the largest export item. Dr. Kurosaki, referring to the Japan-PNG Investment Promotion and Protection Agreement which has been effective since 2014, mentioned that more Japanese companies are getting interested to develop business in PNG.
Mr. Clarence M. Hoot, Managing Director of the Investment Promotion Authority (IPA) reported that 59 FDI applications from Japan have been approved to do business in PNG between 2009 and 2019, mainly in sectors including mining and petroleum, construction, architectural and engineering. Referring to the low level of Japanese investments in sectors such as energy, fisheries, manufacturing and real estate, Mr. Hoot emphasized that the PNG economy offers extensive investment opportunities in all sectors of business and expressed intentions to forge working relationships with PIC and UNIDO to further promote business between the two countries.
Please click the presentation title in the programme below for presentation slides.
Date: Friday, July 17, 2020
Time: 14:00-15:05 (JST)
Format: Online seminar ※Live stream on zoom
Organized by: UNIDO ITPO Tokyo, Pacific Islands Centre (PIC)
Language: English / Japanese (No interpretation provided.)
14:00-14:05 Opening Remarks： Mr. Ryuzo Saito, Director, Pacific Islands Center
14:05-14:20 Presentation 1
“The Role of Japan for the Future of PNG Business”
Dr. Takehiro Kurosaki, Junior Associate Professor, Tokai University
15:20-15:30 Q&A for Presentation 1
14:30-14:50 Presentation 2：
“IPA’s Role and Investment Opportunities in PNG”
Mr. Clarence M. Hoot, Managing Director, Investment Promotion Authority (IPA)
14:50-15:00 Q&A for Presentation 2
15:00-15:05 Introduction of PNG based companies
Ms. Yukie Matsui, Trade Officer, PIC