Simbu Governor, Noah Kool said, commercial economic activities in Karimui-Nomane district of the province can turn its provincial revenue numbers ten-fold as well as making it a food basket of the country.
The political head of the province wants to use the large fertile valley to stimulate growth in large scale agriculture, create jobs and business, unlocking its potential as an economic hub.
Karamui in particular is year marked as “A Special Economic Zone (SEZ)” in Simbu.
“Currently its K5 million (provincial revenue), we want to increase it to K50 million SEZ,” Kool said.
According to the Governor, Simbu has been relying heavily on Waigani and hasn’t been generating the internal revenue to run its local affairs.
“After 47 years, we must stop being beggars! Freeing Karamui, unlocking its potential, liberating its people and successfully developing Karamui SEZ will achieve economic independence for Simbu,” he said.
Minister for International Trade and Investments, Richard Maru said the province will become the first in PNG to begin to take the ambitious road of establishing a Special Economic Zone in one of its districts.
“I want to assure the people of Simbu and the Governor, I want to get the tender out by this Friday,” Maru said.
The tender is for Karamui’s own Feasibility study, apart from the nationwide study to establish a comprehensive report on areas that can be used for the SEZ and what’s needed in terms of enabling infrastructure, services, agriculture and business opportunities.
The Japanese through the Japanese Development Institute will help provide the insight into the establishment of the SEZ in Simbu.
Governor Kool said that enabling infrastructure like water, power and roads have to be in place to ensure the SEZ thrives in a business-friendly environment and trusts the Karamui SEZ will be a success because of the political and people drive.
“We believe the Karimui SEZ will be the first successful (one) in the country as all seven members of parliament are on board,” Governor Kool said.
A total of K1m was presented from the Simbu Provincial Government as counterpart funding to the International Trade Investment Ministry.
The Ministry also confirms through Minister Maru that Government has also put forward a K1.3m to begin the preliminary works.