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SEZ Summit a Success

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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.

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All set to host SEZ Summit

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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.

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KPHL SUPPORTS SEZ SUMMIT

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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.

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