The Ministry of International Trade & Investment has acknowledged the support of Kumul Petroleum Holdings towards the Special Economic Zone Summit coming up in Port Moresby next month.
Minister Richard Maru stated that the assistance worth K100, 000 from KPHL will support with the staging of the summit on May 8 & 9; and is a timely boost that is also consolidating the partnership.
“Clearly I’m happy to be with the Secretary today to tell you that the consultants have visited 22 areas in the country to look at special economic zones. During the summit they will put up a report that will show all the 22 zones they have visited and the way they have assessed the zones and tell us which ones are the easiest to do, what the priorities are for government and which ones we should concentrate on,” he stated.
Minister Maru said the easiest zones in the country are the ones that have roads, power lines, state land and other enablers that are already there making things easier to kick start economic zones.
“We are looking to Kumul Petroleum, to provide a firstly green solution and secondly it must be cheaper. So I’m extremely thankful to the MD, Wapu Sonk and his board for supporting the SEZ drive.”
Minister Maru said Mr Sonk will feature in the SEZ Summit as one of our guest speaker and will outline his plans to partner with the Ministry and the Special Economic Zone Authority to deliver low cost, green energy solutions across the country to help power up special economic zones that will drive economic growth, sustainable growth and employment in the country.
Maru added that there are several interested investors that are already lining up to invest, however the big issue is the energy solution. For example the consistent power blackouts.
“So the issue is real, we are suffering and are looking for green, cheaper and reliable energy solutions right now.”