Key indicators of a country’s progress are vital, especially if one intends to tap into the market of a country and try out in doing business through investments, and one key indicator is the corruption index.
Speaking at the 3rd EU- PNG Trade and Investment Conference in Port Moresby this week, the Interim Chairman of ICAC PNG Mr. Thomas Eluh pointed out exactly that.
He said that foreign investors are smart when it comes to making investments decisions, they will be looking at a lot of things from economic status of a country to security and law and order, and corruption levels of a country.
He said Papua New Guinea (PNG) does not have a good track record when it comes to corruption and that needs to be changed in order to make PNG a favourable investment destination for overseas investors.
Eluh added that corruption in the public sector has seen many private sector companies having difficulty in renewing licenses, obtaining services, or getting approvals because somewhere down the line, there is someone asking for some incentives.
However, he said to really address this there must be some sort of coordinated approach by organisations responsible to address corruption.
“Don’t see ICAC as the only solution to fighting corruption in this country, it needs everybody to come on board and that includes the private sector, includes NGOs, it includes everyone.”
“So, we have devised what we call the national anti- corruption plan of action,” said the Interim Chairman.
This would bring everybody to come on board so that each organization will be given its own area of responsibility.
“The fight against corruption is ongoing, unfortunately its uncoordinated with police doing their own things, Ombudsman doing their own thing, public prosecutor doing their own thing and civil societies doing their own thing. It’s not coordinated so we cannot measure our own successes or failures.”
Therefore, he said they would like to see ICAC become that central coordinating point and not just another solution to addressing corruption in the country.
He said that way there should be enough good coordination in place to seriously address corruption.