A Special Economic Zone (SEZ) Foundation Policy Consultative Workshop was successfully hosted yesterday by the Ministry and Department of International Trade and Investment and the SEZ Authority. The workshop brought together key agencies and stakeholders to present their cross-sectoral views and comments on the draft SEZ Foundation Policy. This Foundation Policy presents the first ever national policy intervention to pioneer and guide the formal institution and implementation of the SEZ Development Program in Papua New Guinea (PNG).
“The primary focus of the Foundation Policy is to define the SEZ, introduce the regulatory and governance framework, and detail the implementation framework to align the institution and implementation of the SEZ Development Program. The Foundation Policy is developed against a backdrop of PNG’s lack of prior experience and expertise in developing SEZs, unsuccessful past attempts in advancing similar concepts like the free trade zone, industrial parks, and export processing zones, lack of a functional regulatory framework, and lack of full institutional capacity in the SEZA Authority (SEZA) and the SEZA Board. The Foundation Policy is part of PNG’s greater economic reform and growth strategy to harness and transform the economic potential of the nation into appropriate economy of scale, and accordingly transform the social welfare and prosperity of the people,” explained the Acting Secretary of Department of International Trade and Investment, Mrs. Jacinta Warakai-Manua.
The agencies and stakeholders who attended the workshop including the National Trade Office, Departments of Lands and Physical Planning, Treasury, and Information and Technology, Lands Commission, PNG Customs Service, PNG Science and Technology Secretariat, Kumul Consolidated Holdings, Kumul Minerals Holdings, Internal Revenue Commission, and Telikom PNG to name a few not only gave their views and comments on the SEZ Foundation Policy but they also pledged their support to the Ministry and Department of International Trade and Investment and the SEZ Authority in this SEZ journey that PNG is embarking on. They are now committed to progressing the SEZ agenda to the next stage of witnessing a first SEZ come into operation.
“We will take all comments and views into consideration and work on finalizing the SEZ Foundation Policy,” said Acting Secretary Manua.
