19 Nov 2013

Responsible, transparent investment key in new Bougainville law

10:16 pm on 19 November 2013

A New Zealand company, Tuia International, says it consulted widely when helping draft a new foreign investment law for the autonomous Papua New Guinea province of Bougainville.

The Inward Investment Bill aims to create an environment where investments are responsible and in the province's best interests.

Tuia's chief executive, Tim Gibson, says their advice was sought after concerns in Bougainville at some of the dubious investment opportunities being touted.

Mr Gibson says they held workshops around the province to gauge what the people wanted and there is a recognition that foreign investment is vital for the future of Bougainville, but they want to be able to control it.

"They want investors to come in with a secure and transparent arrangement around them and to operate, get a return on their investment but also to contribute to building Bougainville."

Tim Gibson