Photo credit: Post Courier
The American Embassy in Port Moresby has called on the Ministry of International Trade and Investment expressing their strong interest to work with the Ministry to bring in more foreign direct investments from the United States to Papua New Guinea.
American Embassy in Port Moresby Charge d'Affaires Joseph Zadrozny stated that the US has increased its presence in Papua New Guinea by building a new embassy with more employees and is undoubtedly eager to see further investments from the US.
The improvement of internal security to make the country more appealing to investors and trade and investment were the Marape-Rosso Government's two top goals, Minister for International Trade and Investment Richard Maru informed Mr. Zadrozny.
“We are setting up Special Economic Zones (SEZs) to particularly attract foreign investors, similar to all Asian Tiger economies and their successes using SEZs to achieve inclusive economic growth,” he said.
“The particular sectors that we are concentrating on are agriculture – we want to process all our raw materials and replace all food imports, fisheries – we want to build Pacific Maritime International Zone and process all our fish on-shore, and forestry – downstream processing of all our logs.”
The construction of fish canneries in Madang and Manus is also being considered, according to Mr. Maru, who also welcomed investors in the manufacturing sector, privately operated power plants, private educational institutions, and other fresh and exciting investment prospects in all sectors.
He gave Mr. Zadrozny the assurance that the Ministry would do all in its power to help sincere US businessmen who were interested in making investments in some of the important PNG areas.
Reference: Post-Courier (31 October 2022). “US Embassy Keen To Work With Ministry Of International Trade And Investment”.
