By MATTHEW VARI
Sunday, June 5, 2016 (Sunday Chronicle, PNG)
NRI Director Dr Charles Yala has cautioned the National Government on its current protectionist stance regarding key government policies.
He said three contradictory policies that the government is pushing at the moment were aimed at killing foreign investment at a time when the country needs them the most.
“The first one is the SME Policy- it is wrongly articulating PNG business development with protectionist policies which is going to kill foreign investment in this country.”
“So facilitation of the private sector from the small to the biggest- this is what the government should do, and we are reviewing the policy at the moment and will release a statement on it.”
“It is anti-foreign, it discriminately, and very contradicting- because on one hand we are promoting APEC and on the other hand we are sending completely wrong signals to the investment community,” Dr Yala said.
Yala said that as part of the global community with no man being an island alone- adding that despite owning the land, the country needs the skills and capital.
“Secondly the land review act which try to prevent foreigners from holding state leases and those holding onto lease have 30 years from the law being passed to sell off their businesses.”
“You are scaring away all major investment and will be an investment killer.”
“There are contradicting policies from the Department of Agriculture with misinterpretation of quarantine regulations from protectionist ideas.”
“We are not Communist here. We are a free market oriented democratic country.”
He added that respect for investment and human rights as fundamentals to the nation.
“As members of an international community we are hosting APEC and today (Wednesday June 1) we are hosting ACP and we must continue to promote transparent, accountable investment friendly environment in this country.”
“There is a lot of policy contradiction. Are we in for investment or protectionist? We can’t have everything at once.”
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