PNG Urged to Enhance Investment Incentives to Attract Foreign Investors
Papua New Guinea must enhance its incentives to attract foreign investors, according to Minister for International Trade and Investment, Richard Maru. Speaking on the importance of competitive investment strategies, Maru emphasized that without offering compelling incentives, the country would struggle to attract investors. "You cannot bring in investors and build a country that's less attractive, without incentives. You are competing with the rest of the world for the same investment," he stated.
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| Hon. Richard Maru |
Maru’s comments came as he discussed the ongoing development of a casino at the Paga Hill Special Economic Zone (SEZ), a project that also includes other significant infrastructure developments. He highlighted the existing 22-story building at Paga Hill, with plans for an additional three buildings awaiting approval. "By the time Paga Hill is finished, it’s going to create 13,000 new jobs. This is the most significant land in the whole city," Maru said, describing the project’s transformative potential.
The Minister further emphasized the broader implications of these developments, stating that once completed, Paga Hill would significantly reshape the country's landscape. Looking ahead, Maru expressed a commitment to providing better incentives to stimulate investment in SEZs and other key areas across the country.
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