Investment Guarantees in Guinea

Investment Guarantees in Guinea

Foreign investment in Papua New Guinea is facilitated, regulated and monitored by the Investment Promotion Authority Act (the Act).

Investment Promotion Act

Section 37 of the Act guarantees that the property of a foreign investor shall not be nationalized or expropriated except in accordance with law, for a public purpose defined by law and in payment of compensation as defined by law.

Multilateral Investment Guarantee Agency

The Multilateral Investment Guarantee Agency’s (MIGA) principle responsibility is promotion of investment for economic development in member countries through:

APEC and WTO

Papua New Guinea is a member of the Asia-Pacific Economic Cooperation (APEC) and the World Trade Organisation (WTO), and therefore party to a number of agreements and understandings. A lot of these matters relate to trade and investment liberalisation.

International Centre for Settlement of Investment Disputes

Section 39 of the Act seeks to encourage greater flows of international investment by providing facilities for the conciliation and arbitration of disputes between government and foreign investors.

Other Agreements

Separate investment protection agreements have been entered into with several individual countries, notably Australia and Malaysia. The Department of Foreign Affairs has more information on bilateral and multilateral agreements which Papua New Guinea has entered into.

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

Related posts

Leave a Reply

%d bloggers like this: