By DALCY LULUA
The National Fisheries Authority (NFA) has thrown its weight behind the upcoming Second Special Economic Zone (SEZ) Summit, presenting K200,000 to the Ministry of International Trade and Investment to ensure the event is a success.
Minister for Fisheries Jelta Wong said the contribution reflected the importance of the summit in driving Papua New Guinea’s economic transformation.
“The SEZA second annual event is very important to showcase our country. That’s why
the NFA is more than happy to give the K200,000 to the minister, because the success of the first one has created avenues for us,” Mr Wong said.
He stressed that the government’s policy-driven SEZ program was the way forward to reshape the country’s economic climate.
“We must realize that things don’t happen overnight. You need somebody to have a firm hand on a program that has a policy that will protect the interests of Papua New Guineans. In the past, foreign investors came here and took advantage of our people. Through the SEZ framework, we are giving them policies and programs that not only protect Papua New Guineans, but also give investors incentives, such as tax breaks, to operate successfully,” Mr Wong said.
Minister for International Trade and Investment Richard Maru welcomed the support and outlined the significance of the summit, which will be officially opened by the Prime Minister on 31 August.
The summit will begin with a review of Papua New Guinea’s economic progress over the last 50 years, led by global experts who will conduct an independent assessment. This will be followed by sector-specific presentations, including from the NFA, which has been tasked to present on the East New Britain Initiative and on the future of the fisheries industry.
“We want to hear clearly about fisheries current stocks, the structure of the industry, domestication policy, and where we are going,” Mr Maru said. “It is important to tell our people and investors when we are going to roll out the domestication program. We will no longer export fish to countries for processing and then import it back. We want to process our fish here in PNG.”
He revealed that investor interest was at an all-time high, with 29 delegates from China already registered and more expected from the United Arab Emirates and other nations.
“These are countries that have never come before. People are excited to invest in fisheries, agriculture, mining, and petroleum. We are expecting 400 delegates, 50 booths, and many international investors arriving. This will be one of the best summits this country has seen,” Minister Maru said.
While welcoming foreign investment, he emphasized that Papua New Guinean investors would be given priority.
“Our government is not only after foreign investors. We want to see local players like Nasfund and Nambawan Super take part in investments in the fisheries sector and beyond.”
With registration space for the summit quickly running out, Maru urged interested participants to confirm their attendance within the week.