Tag

Richard Maru

Browsing
News

KPHL PARTNERS IHU SEZ

By

Kumul Petroleum Holdings Limited has partnered with the Ihu Special Economic Zone to help provide its Energy Solutions.

A memorandum of agreement was signed between the Ihu Special Economic Zone Development Company and KPHL recently in Port Moresby.

The Ihu Special Economic Zone was established in the year 2020, in the Kikori District of Gulf Province, designated for downstream processing.

Earlier this year, an agreement was signed between the Ministry of International Trade and Investment and KPHL, which allows KPHL to provide Energy Solutions for SEZs.

International Trade and Investment Minister Richard Maru said SEZs will not be viable unless they have access to affordable electricity.

He said this signing is a start of a new beginning.

“We don’t give SEZ licence unless you meet all the requirements. You must have Roads, Power, Wharf, Airports and Investors” Maru said.

According to Kikori MP Soroi Eoe, there are ongoing discussions with the department of Works and Highways to build a new road in the district.

“Power is a very important requirement, and there are plans to improve the airport,” Eoe said.

Kikori MP Soroi Eoe.

KPHL Managing Director Wapu Sonk said, KPHL is happy to collaborate with the Ihu SEZ Development Company to carry out feasibility studies on possible power generation solutions.

Managing Director for KPHL Wapu Sonk.

“We will look at the most appropriate power solutions for the Ihu SEZ, which could include renewable sources such as Hydro.” The Managing Director said.

Following this agreement, KPHL will carry out feasibility studies on potential sources of the generation of power, and make recommendations on those that are commercially viable. The Managing Director said, It will be the responsibility of the SEZ development company, Landowner, LLG and Gulf provincial government, and the Ministry of International Trade and Investment, to progress in the recommended options.

Related stories:

https://insidepng.com/sez-summit-a-success/
https://insidepng.com/all-set-to-host-the-sez-summit/

Keep Reading
By
Business

Rigo rice supports domestic rice demand

By

Papua New Guinea, is one of the biggest consumers of rice, but doesn’t have the capacity to supply its demand.

Rigo Rice Managing Director Jeffery Kennedy in his presentation, during the Special Economic Zone Summit, said PNG imports more rice to feed its local demand.

“In PNG we are looking at 99.9% imports of rice, just to feed our local demand,” the Managing Director said.

“With the current global trends, this puts PNG in a very vulnerable spot, in terms of food security.”

Rigo Rice is one of the biggest rice projects in the Central Province and has been operational for more than five years.

In addition, they have invested more than K10 million to build a solid rice business.

They are also supporting local farmers to grow rice, and sell to them.

The Managing Director said, to ensure it continues to grow and meet domestic demands, this project will need the support of all stake holders including the government.

“Government has a very important role to play in rice farming and production when it comes to ensuring food security as an aspect of National security,” Kennedy said.

Minister of International Trade and Investment Richard Maru responded positively, saying the government is ready to give its support.

He said Rigo Rice deserves government support and recognition because they have earned the right to be supported.

Maru further added that the company already has a well established farm which needs to be expanded from 250 hectares to 6000 hectares.

“The government will assess Rigo Rice, and if we are convinced that Rigo Rice deserve our support because it is going to be profitable and sustainable, and all it needs is capital to buy machines, we will invest as an investor, as a joint venture partner, Maru explained.

He said Rigo Rice have also offered to assist the government, by helping other provinces and districts to set up commercial rice farms.

Rigo Rice is one of six projects that will be given Special Economic Zone License by the government this year.

Keep Reading
By
News

SEZ Summit a Success

By

The inaugural Special Economic Zone Summit or SEZ Summit hosted in Papua New Guinea ended successfully last Tuesday.

The three day event was led by the Ministry for Trade and International Trade and was opened by Prime Minister James Marape on Sunday (May 7, 2023).

Over 400 participants from government and private sectors, including international speakers and investors gathered to discuss the establishment of Special Economic Zones in the country.

Global experts shared their experiences with Special Economic Zones for  local experts to learned from them.

Prime Minister James Marape in his key note address, welcomed all participants to the forum.

Furthermore, he said his government is committed to supporting Special Economic Zones, as a key driver of the Economy.

International Trade and Investment minister, Richard Maru in his opening remarks said the world has known the Special Economic Zone Concept for over 50 years.

For PNG, the SEZ concept started over 30 years ago, however some have failed.

Maru said despite the establishment of the Special Economic Zone Authority by the Marape government, there is no Policy.

The Minister further explained that the objective of the summit was to understand the definition of Special Economic Zones, and the types of Special Economic Zones.

“The second objective is to work towards understanding why we fail over the last 30 years by listening to the success of other countries,” Maru said.

Stalls and information booths of government agencies and stakeholders were set up during the summit.

The second day of the summit saw China and Philippines sharing their experiences of Special Economic Zones, including PNG SEZ experience and an update on Paga Hill Special Economic Zone.

Discussions on SEZ policy framework and masterplan were held on the final day of the summit.

Some enablers of SEZs discussed during the summit are: Policing for SEZ, Road Connectivity, Ports Solutions, Energy Solutions for SEZs and Application for SEZ Licenses.

International Trade and Investment minister Richard Maru expressed satisfaction saying the summit was successfully delivered.

“I want to close by thanking all of you again for coming, this is a start of a long journey,” The Minister said.

Keep Reading
By
News

All set to host SEZ Summit

By

The momentum to host the first ever historical Special Economic Zone (SEZ) Summit has picked up as the country plays host to this very important international summit, which will be opened by Prime Minister James Marape on Sunday.

The summit is hosted by the Marape Government through the Department of International Trade and Investment.

In a media conference on Thursday, International Trade and Investment minister, Richard Maru gave an update of the summit.

“On the first day of the summit on Monday 08 May 2023, we will define and learn about countries who have gone into SEZ and the key factors that have made them to be successful and why many others have not succeeded, so PNG can learn from the experience of the countries who have succeeded,” Minister Maru said.

Maru said, SEZs have been here in PNG for over 30 years.

“Despite the legislation and the establishment of the Special Economic Zone Authority (SEZA), we still don’t
have a Policy, we don’t have a Master plan and Development plans for SEZA, and this summit now, will help us learn from other countries on how they have made theirs work,” the Minister said.

Maru said the Government has given one SEZ license to Paga Hill SEZ, and they are hoping that more SEZs will be identified and developed after the summit.

“We don’t want this summit to be another talk feast, we want to learn and start working on more and more SEZs as the key driver for economic growth,” the Minister added.

He said PNG has vast potential, and more SEZs are expected to be announced on Tuesday next week, when the summit ends.

“I would like to thank all the sponsors; Platinum sponsors Special Economic Zone Authority (SEZA) and the Ministry of International Trade and Investment, Gold sponsors; Department of National Planning, IHU SEZ, Kumul Consolidate Holdings, Kumul Petroleum Holdings Limited and National Fisheries Authority, Silver sponsors; PNG Ports, MRDC and Bronze Sponsor, Telikom PNG and Securities Commission,” Minister Maru
said.

Over 400 delegates all over the country including international speakers have paid their registration to attend.

Provincial governments and districts have shown immense support to participate and have also paid the registration for their representatives to participate in the summit.

“We are pleased to inform you that we have confirmed 7 international speakers from India, China, Indonesia, Japan, Philippines, Bangladesh and International Finance Corporation (IFC) who will be arriving on
Saturday 06 May 2023.”

“Local participating delegates from provinces and districts throughout Papua New Guinea will start arriving today (Friday),” Minister Maru said.

The delegates will have a unique opportunity to contribute to the SEZ Policy, the Master Plan, the Legal Framework and also listen to speeches not only from international speakers but also on potential SEZs in Papua New Guinea and important local SEZ development partners.

The Minister said booths for the summit sponsors will be setup inside the Stanley Hotel on the second floor, on Saturday
for the sponsors to showcase their brands and merchandises and it will also serve as information booths for participating delegates during the course of the summit.

Keep Reading
By
News

Maru Announces Trade Commission Service

By

The Government has made a decision to establish for the first time, The National Trade Commission Service in eight countries this year.

International Trade and Investment minister Richard Maru, made this announcement recently.

Minister Maru said PNG’s Trade Missions will be equivalent to Austrade of Australia, New Zealand Trade Enterprise or Canadian Trade Commission Service, where trade representatives will have their own establishments either in foreign Missions or stand alone offices, or through the appointment of Trade commissioners throughout the world starting with eight countries.

Maru said the primary responsibility of Trade commissioners, is to look for Markets for PNG goods, and to promote Trade investment opportunities in PNG.

“We are grateful for the support we have received from the Prime Minister and Cabinet, and is very timely as we prepare for the historic SEZ summit, which will be opened by the Prime Minister this Sunday,” Minister Maru said.

The first 8 Trade Commissions to be established are: Shanghai – China, Brisbane – Australia, Bangkok – Thailand, Jakarta – Indonesia, Brussels – European Union, Dubai – United Arab Emirates, Manila – Philippines and Singapore.

“The Ministry is extremely grateful that a number of SOEs have expressed interest to fund a number of Trade Commissions,” Maru added.

Maru said, in terms of priority, the first Trade Commission will be established in Shanghai, China, as China is offering to buy PNG’s LNG gas and other mining and petroleum products, including fish, logs and other goods.

“I finally want to commend the Prime Minister for his bold decision as a government to introduce for the first time the Trade Commission Service, as a key strategy to find new Markets for PNG and bring in more foreign direct investment, which is critical to build a more robust  inclusive and sustainable economy,” Minister Maru said.

The Department of International Trade and Investment will be advertising for applicants to fill the positions of Trade Commissioners in the first 8 Trade Missions.

Keep Reading
By
News

SEZ SUMMIT TO COMMENCE NEXT WEEK

By

The first ever Special Economic Zone summit is set to commence in Port Moresby next week, with more sponsors coming on board to support the event.

Last Friday the Ihu Special Economic Zone and the Department of National Planning and Monitoring came on board as Gold Sponsors, with cheques of K100 000 each, presented to the Minister for International Trade and Investment Richard Maru.

Vice minister for National Planning James Nomane said the Special Economic zone concept has been here for over 50 years, and it has proved to be a success in many countries.

The Ihu Special Economic Zone was established in 2017, in Kikori, Gulf Province.

Kikori MP Soroi Eoe said the discussions in this summit is vitally important as we can learn from the experience of others who have gone down this path.

Receiving the Cheques, Minister Maru thanked the government and sponsors for the overwhelming support given at a cost of K1.5 million to host the SEZ summit.

The Sponsors of the event include, Platinum sponsors: Special Economic Zone Authority and Ministry of International Trade and Investment.

Gold Sponsors: Department of National Planning and Monitoring, Ihu SEZ, Kumul Consolidate Holdings, Kumul Petroleum Holdings Limited and National Fisheries Authority.

Silver Sponsors: PNG Ports, Mineral Resources Development Company (MRDC), and Bronze Sponsor: Telikom PNG.

The Minister said over 400 delegates have already registered to attend this summit.

“We are pleased to inform you that we have confirmed 7 international speakers from India. China, Indonesia, Japan, Philippines, Bangladesh and International Finance Corporation who will be coming the share their country’s experience, and how SEZs have transformed their countries,” Maru said.

Maru said the delegates will also have the opportunity to contribute to the SEZ policy, The Master Plan, and Legal framework and listen to international speakers and potential SEZ’s in the country.

The potential Special Economic Zone in the country include the Central Processing Zone being developed, Kumul Manufacturing Holdings Limited, Rigo Rice SEZ, Ihu SEZ and Paga Hill SEZ.

“It will be an exiting summit and we are very grateful to all the sponsors without which we wouldn’t be able to host the summit,” Maru said.

Keep Reading
By
News

KPHL SUPPORTS SEZ SUMMIT

By

Kumul Petroleum Holdings Limited (KPHL) has fulfilled its commitment to be the Gold sponsor of the Special Economic Zone (SEZ) summit which will be hosted in the country.

KPHL Managing Director Wapu Sonk recently presented a cheque of K100 000 to International Trade and Investment Minister Richard Maru to show their support.

The inaugural SEZ summit in PNG is a platform to discuss policy gaps, opportunities for investors, the types of economic zones and the services or infrastructures needed in those economic zones.

The Managing Director said KPHL is committed to assist the government in its establishment of SEZs, through power generation solutions.

“Kumul Petroleum will play a role in providing energy. It will be a mix of energy sources, it can be hydro, solar, gas fired power stations or bio fuel, depending on where the economic zones are.

“It’s not only Kumul Petroleum investing in energy, but we will bring in partners to work with us in the different energy opportunities that exist, to support these economic zones.” The Managing Director said.

International Trade and Investment Minister Richard Maru thanked the KPHL Board for this support, saying it is a timely boost, and it is a statement to consolidate this partnership going forward.

Minister Maru said the easiest economic zones are those that have roads, wharves, state land and other infrastructures in place, however the biggest issue is energy source.

“The government cannot continue to burn Diesel fuel which is expensive and also pollutes the environment, so we are looking to KPHL to provide a green solution, and it must be cheaper,” the minister said.

He said the cheaper cost of power can be passed onto users and consumers in the private sector, who will also produce goods and compete in the global market.

KPHL being the Gold sponsor of the summit, will be given a slot to speak on their plans and vision to provide clean and cheap energy to all special economic zones, including an information booth during the summit.

The Special Economic Zone Summit will be hosted in Port Moresby, from May 8 – 9, 2023.

Keep Reading
By
Pin It