• PNG Business News

Bougainville Launches Bana Special Economic Zone

In creating a steady stream of income, the people of Bana in Bougainville launched the Bana special economic zone (BSEZ), which is a project intended to form development by tapping into agriculture, tourism and the fisheries industry.

This project also creates opportunities for Bougainville by attracting investments to the economic zone.

The future of this project includes:

  • Employment opportunities

  • Increased trade balance

  • Increased investments

  • Trading at a global level

An initiative of the leaders of Bana in its three constituencies, the project aims to increase development and stimulate economic activities in the district.

The steering committee of the project is the creation of the Bana development initiative.

The business development initiative chose to put up the Bana free trade zone under the PNG Free Trade Zone Act 2000 which had been replaced by the Papua New Guinea Special Economic Zone Act by the Marape government.

Once the registration of the landowner group is finished, this would let people dispose of, hold, and manage their lands to facilitate investment.

President Ishmael Toroama launched this initiative at the Mamarego Primary School in Baba, South Bougainville.

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