Special Economic Zones (SEZ)

Minister for International Trade and Investment, Richard Maru announced this on Monday 19 February. He said the Marape-Rosso Government enacted the Special Economic Zone Authority Legislation in 2019 without the policy.

“Since my appointment as the Minister responsible for Special Economic zones, one of my KPIs is to ensure that the new SEZ Policy of Papua New Guinea is completed and launched this year. Among the key policies will be a policy on local ownership of investors or locators of Special Economic Zones,” Minister Maru said.

To date, the Fisheries Sector through the regulatory arm, the National Fisheries Authority (NFA) has made many notable achievements to date that includes;

The summit and Papua New Guinea Government’s aspiration to pursue the Special Economic Zone (SEZ) concept was dedicated to God in prayer at the opening, Minister of international Trade and Investment, Richard Maru delivering the opening remarks.

Minister Maru spoke passionately about harnessing the concept and challenged the room especially districts and provincial governments to work closely with the government to identify their own economic potentials through SEZ; and utilizing their resources.

The event organised by the Department of International Trade and Investment brings together SEZ experts from around the world, Government departments and agencies, private sector and the provinces to discuss the establishment of SEZs in PNG.

The summit has attracted international experts from China, Japan, Indonesia, Philippines, Bangladesh and India, to share their experiences and offer to the nation what can be done to pursue our own Special Economic Zone.

ABG Acting President, Patrick Nisira, made the call in a media conference this week, where he also announced an open invitation to Trade Missions to set up their offices on Bougainville.

Nisira, who is also Minister responsible for Commerce, Trade and Economic Development, said these efforts, including the development of special economic zones in Bougainville, are part of the Government’s plans to create economic growth and drive responsible business partnerships with international and national partners.

Over 400 delegates including seven international speakers from India, China, Indonesia, Japan, Philippines, Bangladesh and the International Finance Corporation are expected in the country on Saturday 6th of May, 2023. 
The SEZ Summit will be officially staged at the Stanley Hotel in Port Moresby from the 7th- 9th of May. 

The drive to host the SEZ Summit has picked up momentum in recent days as PNG prepares to deliver an important international meet hosted by the PNG Government through the Department of International Trade & Investment, led by Minister Richard Maru. 

The department and the proposed Ihu Special Economic Zone have showed their support by committing K100,000 each as Gold sponsors of the SEZ Summit to be staged from May 8 and 9 in Port Moresby.

Vice Minister for National Planning, James Nomane, when pledging the department’s support on behalf of Minister Rainbo Paita said the SEZ concept is the way to go for Papua New Guinea.

He said it has worked for many countries in Asia, Africa and the Middle East, showing a resounding success and it can transform PNG, when taken on board.

Yesterday the proposed Ihu Special Economic Zone project office through the Member for Kikori, Soroi Eoe presented a dummy cheque of K100,000 as one of the Gold sponsors of the event.

Receiving the dummy cheque was Minister, Richard Maru, witnessed by Ihu SEZ project office managing director, Peter Kengemar, Vice Minister for National Planning James Nomane, Secretary, Koney Samuel.

Minister for International Trade & Investment Richard Maru thanked all sponsors for their backing in which K1.5 million is needed to host the international event.

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.

KPHL Managing Director, Wapu Sonk, presented the cheque to the Minister for International Trade & Investment, Richard Maru.

The Ministry of International Trade and Investment is host for the summit, to be staged in the country on May 8^th- 9^th.

“Kumul Petroleum Holdings is committed to assist the government in its establishment of SEZ’s around the country and the use of domestic resources to provide power in these areas. KPHL is ready to provide power generation solutions for application in SEZ’s being planned in this country.