The Sectoral Policy Division plays a pivotal role in overseeing both direct and indirect investments carried out by the government. With a focus on aligning these investments with government policies and priorities, the division ensures that they are thoroughly reviewed, monitored, and designed to create an investment climate that maximises benefits and opportunities for Papua New Guinea.
The division’s primary objectives encompass the following key areas:
- Resource Sector Project Evaluation and Promotion: Within the Extractive Industries Branch, the division monitors, evaluates, and develops proposals for resource sector projects, including mining, oil, and gas. It actively promotes investments from both the public and private sectors, while providing sound advice and assistance in addressing landowners’ concerns.
- SOE Governance and Infrastructure Investment: Through the Public Investment Branch, the division strives to enhance the governance of State-Owned Enterprises (SOEs) through necessary reforms. It also promotes infrastructure investments and contributes to policy formulation and implementation in this area.
- Renewable Resource Sector Projects: The division closely monitors and evaluates proposals for projects in renewable resource sectors such as agriculture, fisheries, tourism, and forest resources. It actively promotes investments in these sectors and provides informed advice to the government for project development.
- Enhancing Transparency and Governance in Extractive Industries: The division actively participates in the Extractive Industries Transparency Initiative (EITI) and works towards promoting transparency, good governance, accountability, and accurate reporting of receipts and expenditures within the extractive industries.
By effectively carrying out these objectives, the Sectoral Policy Division strives to ensure that State investments contribute positively to the country’s development and align with sustainable economic and social goals.