PNG Launches First Ever Special Economic Zone (SEZ) Summit to Boost Economy

The Special Economic Zone Summit has been launched in Papua New Guinea, with a focus on boosting the country’s economy through the development of special economic zones (SEZs). The launch was attended by a number of high-profile guests, including the Diplomatic Core, international delegates, members of parliament, and media representatives.

Prime Minister James Marape spoke at the event, emphasizing the importance of the government’s agenda of growing the economy through SEZs. He noted that other countries have used SEZs to transform their economies, create jobs, and attract foreign direct investment, and that it is time for PNG to follow suit.

Minister in charge of international trade and investment, Richard Maru, echoed Marape’s sentiments, stating that PNG has more potential than many other countries and should be doing better in terms of economic growth. He also acknowledged the high unemployment rate and other issues faced by regular citizens in the country.

Marape outlined his government’s policies for developing SEZs and encouraged existing businesses in the country to take advantage of the incentives and concessions offered by the government.

The launch of the SEZ Summit is an important step forward for PNG’s economy. By developing SEZs, the government hopes to create jobs, attract investment, and promote economic growth in the country. With the support of the international community and existing businesses, PNG may be able to realize its full economic potential and become a leader in the region.

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