AGP Executive Report
Last update: 7 hours agoCompetition & Payments Reform: New Caledonia’s Congress passed a competition law targeting abusive practices like excessive pricing and late payments, including punishments for dominant-position overpricing, tighter merger controls, and a shift to 30-day payment deadlines from invoice issuance plus government-set compensation for late pay—though 10 proposed ACNC power-expansion articles were removed after lobbying from employers’ group FEINC. Travel & Tourism Confidence: The US State Department downgraded its New Caledonia travel advisory from Level 3 to Level 2, citing improved safety since the 2024 unrest, while still warning about petty crime outside Nouméa and limited emergency support. Regional Fisheries & Ocean Governance: Conservation International’s Pacific Tuna Initiative expanded to Palau, building on reforms in Fiji, Samoa and New Caledonia to strengthen tuna fisheries management and equitable ocean governance. Energy & Investment Signals: TVA highlighted major generation expansion progress, with 3,770 MW under construction and a project listed for New Caledonia (500 MW), reinforcing long-term power and competitiveness planning. Diplomacy & Business Links: France reiterated its Pacific ocean commitment at the Melanesian Ocean Summit in Port Moresby, tying investment to fisheries protection and the blue economy.
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