AGP Executive Report
Last update: 9 hours agoCompetition Law Update: New Caledonia’s Congress has adopted a bill targeting abusive business practices, including excessive pricing and late payments, with 34 votes in favour and 6 abstentions. The text also tightens merger and acquisition controls and reintroduces deferred producer–distributor discounts to try to bring down consumer costs in a high-cost environment. Payment Rules: Deadlines between professionals are set at 30 days from receipt of goods, with the clock starting when invoices are issued, plus a government-set fixed compensation for late payment. Authority Powers Debate: The government withdrew 10 articles that would have expanded the Competition Authority’s powers, citing a performance review ahead of its 10th anniversary—though employers’ group FEINC has pushed back hard, even calling for the authority’s closure. Travel & Safety: The U.S. has lowered its travel advisory for New Caledonia from “Reconsider Travel” to “Exercise Increased Caution,” citing generally improved safety since the 2024 unrest, while still warning about petty crime, political tensions, and limited emergency help outside Nouméa.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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