PNG Prime Minister Marape Defends Political Integrity

The International Trade and Investment Minister, Mr. Richard Maru, announced a strategic shift in the Papua New Guinea government's economic approach, unveiling plans to launch Special Economic Zones (SEZ) extensively in the coming year. This initiative comes after two decades of learning from past mistakes, aiming to stimulate robust economic growth, according to Maru.

Mr. Maru highlighted the government's focus on SEZs, revealing that the initial zones were established in Malahang, Morobe, and Ulaveo in East New Britain. Following these, the Paga Hill Special Economic Zone and the Central Limestone Project were initiated, he said.

Mr. Richard Maru: International Trade and Investment Minister 

Anticipating further expansion, Maru disclosed plans to license several new SEZs in 2024, including the Rice Special Economic Zone, the Central Manufacturing Zone, the Sepik Plains Special Economic Zone, and the Pacific Maritime Industrial Zone. Stressing the significance of agricultural development, Maru emphasized the country's reliance on food imports, pledging to replace imports like rice, chicken, beef, and lamb with locally produced alternatives.

Expressing gratitude towards Prime Minister James Marape and the National Executive Council (NEC), Maru acknowledged the allocation of K150 million in the 2024 Budget for state equity. He outlined the diverse ownership structures of upcoming SEZs, indicating that some would be government-owned, some private, and others jointly managed by the government and the private sector.

Highlighting the role of SEZs in driving sustainable and inclusive economic growth beyond the mining and petroleum sectors, Maru drew inspiration from successful models in countries like the Philippines, China, Thailand, and Indonesia. He underscored the potential of SEZs to generate employment opportunities, particularly crucial in addressing the high youth unemployment rate.

Maru provided an update on the draft PNG SEZ Foundation Policy, signaling its readiness for final revisions and stakeholder consultations before submission to the Cabinet. Expressing enthusiasm for Papua New Guinea's economic prospects, he emphasized the transformative role of SEZs in facilitating sustainable economic growth.

The government's initiative to leverage SEZs as a catalyst for economic development reflects a significant paradigm shift, indicating a concerted effort to drive Papua New Guinea towards self-sufficiency and sustainable growth.

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PNG Prime Minister Marape Defends Political Integrity