A Memorandum of Understanding (MoU) for the transferring of powers and functions from the Investment Promotions Authority (IPA) was signed between the Autonomous Bougainville Government (ABG) and IPA recently at the Harvest Centre at Buka.
The Investment and Promotions Authority (IPA) Managing Director Mr. Clarence M. Hoot officially announced the signing of the MoU with the Chief Secretary Mr. Kearnneth Nanei and the Department of Commerce Trade and Industry and Economic Development Director Mr. Raymond Moworu.
He said that there are consultations and meetings, which are still taking place with the private sector and business houses in Bougainville, and this was what IPA had wanted for a better turn out of the economy development in Bougainville through a proper registry record for business houses in the region.
Chief Secretary Mr. Kearnneth Nanei acknowledged the efforts of the team from the IPA and the Department of Commerce, Trade and Industry and Economic Development and the business houses for participating in the progression of this milestone achievement.
The consultation for the transferring of the powers and functions from the IPA had actually begun in 2024 and has ked t the MoU signing for the transferring of the powers and functions.
A workshop[ will be carried out today by the IPA in partnership with the Department of Commerce, Trade and Industry and Economic Development on the services offered by IPA here in Bougainville to the business houses and private sector.
