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.