An evaluation study into the formulation of a master plan on the development of Special Economic Zones (SEZ) in the country has begun.
The Japanese Development Institute and the Special Economic Zone Authority are in East New Britain today to commence the study.
Minister for Trade and Investment, Richard Maru said the study begins this month (December 2022) and will run until April 2023.
“To formulate the plan, they must travel the country to the locations that the Government has identified as potential provinces and districts.
“On the basis of the assessments, they will look at the business opportunity whether it is viable and has enabling infrastructure.
“If it has land, who owns the land, then determine whether the proposed location is suitable to be developed as a special economic zone,” said Maru.
The Government so far has identified 18 Special Economic Zones.
Some of the potential SEZs in the country include; the Kokopo Tourism Zone, Pacific Maritime Industrial Zone in Madang, Baiya Agriculture Zone in Western Highlands, Sepik Plains (East Sepik), Vanimo Free Trade Zone, Central, Western, Manus Special Economic Zones.
The Japanese Development Institute director, Dr. Shoichi Kobayashi said the SEZ can create employment opportunities through inviting investors.
“Only investment can provide service and employment and we can help your country create employment,” he added.