The PNG government has approved and agreed to provide K100m (US$28.5 million) to kick start the country’s first Special Economic Zone, creating up to half a million jobs directly and indirectly in the country when it is fully operational. And there will be a role for other Pacific nations.
The Ihu Special Economic Zone (ISEZ) is located in Kikori District of Gulf Province, about from 45 minutes by air from the capital, Port Moresby and is expected to take 10-15 years to complete.
It will consist of a free trade zone, petroleum park with petrochemical plan, industrial zone, technology park, forestry park, marine park, a deep sea port and airport, a township with hotels and resorts, and a government and administration area, Peter KenGemar, the ISEZ Project Director has told Islands Business.
Read more in our November issue.