By: PNG Business News September 11, 2023

Prime Minister Hon. James Marape has invited the business community of Israel to Papua New Guinea, offering land in a Special Economic Zone specifically for Israeli businesses in the country.

Prime Minister Marape made the invitation to the Israel Manufacturers Association.

The Prime Minister wasted no time, as he came out strongly advocating PNG’s great potential in oil & gas and mining, together with sustainable resources – Forestry, Agriculture, and Fisheries – and his government’s renewed efforts into downstream processing.

He said with PNG’s geographical location in relation to Asia and its thriving markets, Israeli businesses would do well for themselves to invest in Papua New Guinea.

“We are closest to the Asian markets. We are linked to many Asian countries at a government-to-government level. That is the competitive advantage we have over many other countries,” said PM Marape.

“I would like to offer you land. As you give us land tomorrow for our Embassy here, we would like to offer you land, not just for your mission in Port Moresby, but a big piece of land for a Special Economic Zone for Israeli businesses to take residence in our country to do business, to mount your satellite, and do business.

“We have natural resources in oil and gas, and in our forestry, fisheries and agriculture. We have more than enough land for you to come in and start your businesses, and I am willing to give you tax-free incentives.

“Together, we can produce, label these as Israel-PNG produce, and export to the world. PNG is close to the Asian market than you are from Israel,” said PM Marape.

The presentation at the Israel Manufacturers Association was made to representatives from a cross-section of the Israel business community and was very well received.

Prior to this, Senior Advisor on International Relations at the Manufacturers Association of Israel and President of the Federation of Binational Chambers of Commerce Mr Dan Catarivas gave an overview of the Israel economy whereby he spoke of Israeli’s economic advancement in the last 75 years. With a healthy GDP, Israel’s main export commodity item is High Technology Industries offering solutions to improve business, trade and investment, health, agriculture and education to mention a few.

PNG could partner with Israel in this very important area to improve its systems, Prime Minister Marape said.

The Prime Minister was accompanied by his delegation including State Ministers and senior government officials from the departments of Prime Minister & NEC, and Foreign Affairs.

After the Israel Manufacturers Association meeting, the Prime Minister held a dinner reception in the evening with members of the Israeli business community who have interest in PNG.

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