APRIL 13, 2023
Special Economic Zone Authority (SEZA) is the major sponsor of the International SEZ Summit to be held in Port Moresby on May 8-9, 2023. SEZs are a major focus of the Marape Government.
SEZA Chairman Varigini Badira presented K500,000 to Minister for International Trade and Investment, Hon. Richard Maru, last Thursday (April 6, 2023) to help stage the event.
Chairman Badira has called on private investors, State-owned companies, provincial and district business arms and subsidiaries, and proposed SEZs to attend the event.
Board Chairman of Special Economic Zone Authority, Mr. Varigini Badira presenting a dummy cheque to Minister for International Trade and Investment, Hon. Richard Maru last week.
“This will allow them to hear from global experts – who have tried and successfully developed SEZs – to be their primary driver for economic growth,” he said.
“Papua New Guinea is a country blessed with so much resources, yet, we export them as raw materials and import the same resources at a higher premium price.
“Through this summit, a clear pathway will be established to unearth our potential to replace imports, and increase exports of our resources.”
Chairman Badira said SEZA, as the regulator of SEZs in PNG, was proud to be major sponsor of the summit “so the nation can hear from global leaders”.
“The definition of what is an SEZ will be defined and types of SEZs will be classified by global experts during the summit,” he said.
“The Summit will also help us to present the draft SEZ Policy, the amendments of the SEZ Act 2019 and the Master Plan.
“We are eager to get comments from the local and global community, which will help us to strategise and chart our SEZ objectives from the start, in the standard accepted internationally and incorporating our local context.
“SEZA is the only recognised authority to regulate SEZs.
“We will continue to deliver a regulatory environment that builds confidence in foreign investors, and maintains a level playing field for both foreign and local investors, as well as our citizens.”
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