The Simbu provincial government is ready to move forward with the development of the Special Economic Zone (SEZ) in Karamui after reaffirming its commitment to work with the Department of International Trade and Investment to get the project off the ground. That commitment was in the form of K1million presented to the department during the inaugural SEZ Summit held in Port Moresby this week. Simbu Governor Noah Kool said the funding is from the provincial government because they want to see this happen for the province. “We want this to happen that’s why we got the landowners of Karamui, the…
Author: Emmanuel MAIPE
The Ihu Special Economic Zone (SEZ) in the Gulf province is on its way to become a fully registered SEZ project after development partners hopped on the band wagon to support this major project reach its fruition. The Ihu Special Economic Zone team signed 4 contracts with partners to start the development of project area in the Gulf province. The partners include China Railway Construction Company to build and upgrade the roads to the SEZ, Dataco PNG for communication links along with WR Carpenters. “The Ihu SEZ is not registered yet, but from the pace that they are going they…
The success of the Special Economic Zone (SEZ) projects in Papua New Guinea (PNG) will depend on a lot of things going forward, but perhaps the most important thing to address in the context of PNG, is landownership. Minister for International Trade and Investment Richard Maru, said land is the most significant thing in the SEZ projects because the landowners will participate and benefit as well from it. Minister Maru said the idea is not just for the state to buy off land from customary landowners, but to have equal participation whereby landowners register their land and get a title…
The inaugural Special Economic Zone (SEZ) Summit started this morning with talks on the difference models of SEZs, the financing, and partnership. Mr. Shubhojeet Chakavary from Price Waterhouse Coopers (PwC) India said financing a SEZ is usually done as per the SEZ model. Giving his talk this morning, he said for a Public Private Partnership approach like that in Papua New Guinea, the financing is done by private sector investment while the state remains the facilitor for enabling a conducive environment to do business. That would mean enabling ease in financing the project, including making foreign currency available, something which…
Papua New Guinea will remain part of the Commonwealth group of nations under the new reign of King Charles III. That was known to the people by the Prime Minister James Marape when officiating at the in- country celebration marking the Coronation of King Charles III on Saturday 06th May in Port Moresby. Marape said their have been critics saying that PNG should consider not remaining in the Commonwealth and having the Monarchy as the head of state. But, PM Marape said PNG will continue being part of the biggest block of nations in the world because of the continued…
Papua New Guinea (PNG) joined the rest of the Commonwealth nations to celebrate the Coronation of King Charles III with an in- country ceremony yesterday Saturday 06th of May, held at the Sir Hubert Murray Stadium in Port Moresby city during the evening. Acting Governor General and Speaker of Parliament, Job Pomat, said PNG has a long history with the Monarchy having shared many interests, and conveyed on behalf of the people of PNG the country’s warmest congratulations of His Majesty’s Coronation as King of the United Kingdom (UK) and the Commonwealth realm of nations. “We value our ties with…
The Papua LNG project, which is expected to go into its construction phase in 2024 onwards, is expected to recruit over a thousand skilled workforce; presenting a big opportunity for Papua New Guineans to work in the next big LNG project. The upcoming LNG project will require skilled workforce in place and ready for the construction phase when it eventually commences, and the recruitment for this should be handled well with the assistance of a new online career portal that was developed by Kumul Petroleum Holdings Limited (KPHL). Just this week on Tuesday the Papua LNG operator TotalEnergies EP PNG…
Papua New Guinea (PNG) is ready to host its first Special Economic Zone (SEZ) Summit with delegates from seven countries converge on the Stanley Hotel in Port Moresby this weekend to start this important summit. Minister for International Trade and Investment Richard Maru said that there should be about 450 delegates, both international and local, to be here in the nation’s capital for the summit. “International speakers from six countries are arriving, the Japanese team have already arrived and the rest will be arriving on Saturday to speak as presenters during the summit,” said the minister. The aim of the…
The landowners of the Special Mining Lease (SML) area of the Porgera Mine in Enga province now want full participation in mine contracts under the new agreement of the new Porgera Mine. The landowners have established a landowner company which they aim to apply for contract bids issued out by the state and developer, Barrick Niugini Limited (BNL). Chairman of the landowner company Mr. Sol Taro said for too long they have received a small portion of payments in royalties and not benefiting from the contracts issued out to companies to provide services to the mining project. He said for…
Local producers and service providers in the country will in the near future see the benefits of the establishment of Trade Commission Services under Papua New Guinea (PNG) Foreign Services in the various countries that the country is represented in. The Minister for International Trade and Investment Richard Maru, when making the official announcement of the new Trade Commission Service, said that the establishment of the new Trade Commission Service was a direct decision of the National Government in an effort to improve trade and investments, and the economic growth of PNG. “Since independence we have our Foreign Service operation…