The Autonomous Region of Bougainville is seeking national government support to establish a Special Economic Zone (SEZ), with International Trade and Investment Minister Richard Maru backing plans to advance the proposed Soraken Integrated Special Economic Zone.
Bougainville Regional Member and Works and Highways Minister Peter Tsiamalili met with Maru to discuss the proposal, which would be developed under Papua New Guinea's Special Economic Zone Act 2019.
Maru said he plans to visit Bougainville in August to inspect the proposed site and hold further discussions with the Bougainville government on the project's development.
"I know the Bougainville Government is keen on establishing a number of SEZs. We have to start with one and the model can be replicated as a concept in other parts of Bougainville," Maru said.
The minister outlined the requirements for securing an SEZ license and encouraged Bougainville authorities to submit a detailed proposal for National Executive Council concept approval.
He also suggested incorporating a fish cannery, an international wharf and a fuel depot into the proposed economic zone to strengthen its industrial and trade potential.
Maru invited the Bougainville government to participate in the inaugural Papua New Guinea–China Business Forum and Trade Expo in Guangzhou in October to promote the region as an investment destination and showcase opportunities within the proposed SEZ.
During the meeting, Tsiamalili also discussed the proposed sale of PNG Power Ltd. assets in Buka and Arawa as part of the utility's recovery plan.
