Avoid foreign aid: Ex-Aust minister

IT is time Papua New Guinea moves away from being an aid recipient to becoming an equal partner with Australia, says former Australia foreign affairs minister Julie Bishop.
Bishop said that Australia was always happy to support PNG and see it becoming economically independent.
“I support and agree with Prime Minister James Marape’s vision for Papua New Guinea to gain economic independence, but you cannot achieve that with foreign aid, you can only achieve that through investments and a strong government foundation,” she told the 16th PNG Mining and Petroleum Conference in Sydney yesterday.
“Australia is also excited to see Papua New Guinea developing Special Economic Zones (SEZ) and we are keen on promoting tourism.
“I can see Australia partnering with PNG to promote tourism in the country,” she said.
Foreign Trade Minister Richard Maru said PNG was looking for serious investments, including the promotion of SEZ projects.
“The Government is hoping to make Manus one of the first tax haven special economic regions in the country,” Maru told the conference.
“The Government had already identified several areas in the country as potential special economic zones.
“We are looking at the potential of making Vanimo a free trade zone, the middle Ramu as an industrial economic zone.”
Maru said without investors, these plans would fail, added that was why the Government was also putting out incentives to bring in investors for the special economic zones.
“Partnering the private sector is key,” he said.
“We will introduce free trade zones, and build new diplomatic and trade relationships.
“The State will also be putting up K100 million as State equity next year, mobilising land and enabling infrastructures by building airports, roads and ports.”
Maru said work to transform the country’s economy would begin next year.
He said the country would offer investment opportunities inside and outside the resource sector.
“Australia will have the first preference, but if they do not invest with us then we will go out into the world and look for investors (who will),” he said.