The protection that is being sought from the PNG Government includes government policies that might undermine expansion of these businesses.
PNG Business Council executive officer Douveri Henao said even without the existence of the services chapter agreement in the existing Melanesian Spearhead Group (MSG) trade agreement, there have been businesses that have gone out and invested abroad in member countries.
Among those he named to be Bank South Pacific, which has gone out and invested in markets in Fiji and Solomon Islands, and Hides Gas Development Limited, a landowning company, that has invested in Pearl Resort in Fiji.
He stated there is also an uptake of small enterprises in the financial lending markets and yet again, in Fiji and the Solomon Islands.
“Without the rules of protecting our businesses via an agreement, they went further and invested in markets abroad and that demonstrates that our businesses are not looking through risks through the eyes of a much riskier outlook,” Mr Henao commented.
“We have a tendency at looking into Melanesia which is much more ambitious and much more cultural in our outlook.”
Mr Henao said these growing movements by PNG businesses have indicated there is an appetite to go deeper into Melanesia but that going forward, they would require some protection.
In making these remarks he said the overall dialogue by the Minister for Trade, Commerce and Industry Richard Maru, with his colleague ministers when they do arrive for the 2nd Melanesian Spearhead Group investment and trade fair would be crucial.
“The meeting is critical because he will impart at that level of appreciation to his fellow ministers that PNG investments need to be protected from government policies that might undermine expansion and future activities undertaken by the ambition of the PNG service investors,” he said.