Decision on Paga Hill praised

THE Government has been praised for designating the Paga Hill Estate as a special economic zone (SEZ) for tourism. Paga Hill Development Company (PHDC) chief executive Gudmundur Fridrikkson told The National that it had put PNG in a position to compete on the world stage. It will cost more than K4 billion to build and develop the area which includes a casino. The figure may vary depending on the specifics of the final plans. The econmic zone comprises more than 23 hectares. “It will include more than 1,000 residential apartments, commercial office buildings, hotels, retail malls, and waterfront retail and hospitality.  “Its planned tourism infrastructure, of which the casino is one component, will transform the visitor experience to PNG, and will establish a vibrant focal point for the city that all can enjoy,” he said. “A casino will be just one of a suite of tourism elements that will attract new international visitors. “The planned cultural centre, military museum and hotels, will complement the city’s planned cruise terminal. “These attractions will provide a wider range of things for visitors to see, serving as a base for broader regional travel and tourism. “PNG has a bright future ahead and we foresee great returns for our development and its investors, as underpinned by a rebound in tourism and the kick-starting of the Government’s resource projects.” The PHDC owns the land. “The Marape Government appreciates that the best way of rebounding from the pandemic-induced economic downturn is through infrastructure projects,” he said. “PNG is strategically located within the Pacific, and the SEZ incentives will help attract foreign companies to Paga Hill Estate, establishing the area as a regional hub for commerce and trade, creating hundreds of jobs in the process.”