Photo: ABG Acting President Hon. Patrick Nisira
The Autonomous Bougainville Government has called on the Papua New Guinea Government to consider a special economic zone from Bougainville as it prepares to host its international summit on Special Economic Zones next week.
ABG Acting President Hon. Patrick Nisira made the call in a media conference yesterday where he also announced an open invitation to Trade Missions to set up their offices on Bougainville.
Hon. Nisira, who is also Minister responsible for Commerce, Trade and Economic Development, said these efforts including the development of special economic zones in Bougainville, are part of the Government’s plans to create economic growth and drive responsible business partnerships with international and national partners.
“Special Economic Zone (SEZ) is one of the potential industrial development concepts that will encourage duty-free and tax-free zones for goods and services in selected sites in Bougainville, including the development of financial hubs to make Bougainville attractive for investment,” Nisira said.
“We ask the Papua New Guinea Government to support us in this endeavor, and for the international development partners to form strategic alliances to make the SEZs concept work for the region.”
“This is a timely call as I have noted the PNG Government will be hosting an international Special Economic Zone Summit in Port Moresby this month. We are hoping for the national government to recognize and include one of the SEZs from Bougainville in its national SEZ list,” he added.
The Bana Special Economic Zone project is an economic development initiative of the people and leaders of Bana District in its three constituencies in South Bougainville. It aims to stimulate economic activity through the generation of increased trade balance, employment creation, increased investments and will allow Bougainville to trade at a globally competitive level.
