6 Sep 2013

70 to 80 percent of PNG land owned by foreigners - Lands Board

10:28 am on 6 September 2013

The chairman of Papua New Guinea's newly appointed Lands Board says that 70 to 80 percent of land in the country is owned by foreigners.

EMTV reports that the Lands Board is on a nationwide mission to inspect and review all land titles.

Its chairman, Sam Wange, says that over the years, corrupt deals have seen almost all state and traditional land abused in exchange of large sums of money.

Mr Wange says land is the most important asset owned by Papua New Guineans but has warned that landowners face issues of alienation in future if they don't manage their land carefully.

The lands board is working with the Investment Promotion Authority and the Internal Revenue Commission to identify companies that have titles to large blocks of land.