Special Economic Zones (SEZs)

Maru defends SEZ policy

“We have a very good SEZ Act that was passed in 2019 and we are just finalizing the final draft of the new SEZ Foundation Policy. PNG’s SEZ Legislation provides a rigorous framework for evaluating potential SEZ Projects, as well as tightly monitoring their ongoing operation and fulfilment of stated objective,” states Maru.

Minister Maru says governments around the world frequently implement short-term incentives and even preferential treatment, such as allowing skilled migration for selected in-demand professions to address needs and achieve strategic objectives.

SEZs to kick off in 2024

Minister for International Trade and Investment, Richard Maru said, “Our first two Special Economic Zones were Malahang in Morobe Province and Ulaveo in the East New Britain Province. These were followed by the Paga Hill Special Economic Zone and the Central Limestone Project. This year the Government is set to license the Rice Special Economic Zone, the Central Manufacturing Zone, the Sepik Plains Special Economic Zone, and the PMIZ.”

PNG on offer

This was the message relayed by the Minister for International Trade and Investment, Richard Maru, during day two of the inaugural Papua New Guinea – Asia Investment Conference in Hong Kong.

Sessions 1-4 concluded yesterday in day one of the conference, with Prime Minister James Marape welcoming investors to PNG before departing for Beijing, China.

Minister Maru, who was instrumental in the hosting of this conference in Asia, headlined session five with the topic: “PNG ready for investment”.

PNGHKCCC official recognition

A welcome dinner will be hosted by the chamber for the PNG delegates who will be attending the upcoming inaugural PNG-Asia Investment Conference in Hong Kong on October 16-17.

This arrangement was agreed on by the Minister for International Trade and Investment, Richard Maru and the Chairman of the PNGHKCCC, Anthony Lai, in Hong Kong.

JDI experts wrap up visits

This involved visiting the identified potential SEZ locations in the country to collect information to formulate the Masterplan for Papua New Guinea.

Their last two visits will be to the Port Moresby Industrial Zone and the Western Province next week.

Minister for International Trade and Investment, Richard Maru said that after all fieldwork are completed, the JDI team and the local experts will work together to provide three key deliverables.