Dubai dollars for Manus

 By GYNNIE KERO

MANUS Province could be floating on a sea of Dubai investment dollars, local MP Ronnie Knight indicated yesterday.

Knight told The National he was to host a group of representatives from the Dubai-based Awal Impex International (Holdings Ltd) Company. The group was to arrive in the province on Sunday.

He said the company was exploring investment opportunities in the province if it was turned into a free trade zone.

Knight said the multinational company planned to establish major port facilities for customs and quarantine checks on all sea vessels bringing goods into the country.

Knight said the company’s investment – in basic facilities and services, hydro schemes and water supply projects – could be in the region of hundreds of millions of kina.

He said the group was expected to visit Mokoreng and Salamei in the Los Negros local level government (LLG) area, as well as N’Draukei, in the Pobuma LLG.

“The multinational company will have 40-50% equity in the projects,” he said.

“The main idea of constructing a big wharf facility, container terminals and screening yards is to ensure proper clearance can be done on all ships coming through Manus.”

He said the idea was that all cargo brought in from Asia, Pacific and Northern Australia would be checked in Manus before they continued to Port Moresby or Lae.

“They’re (Awal Impex International) coming to the country on Sunday is to see how we can access the funds,” Knight said.

He said landowners had indicated their support for the company’s plans.

He said a free trade zone would result in companies in the province benefitting from tax concessions.

Trade Commerce and Industry Minister Richard Maru has said he is keen to see a free trade zone set up in Manus so the province could achieve economic independence.

The setting up of such a zone would be among “his highest priority” as the private sector would be the primary investor in developing special economic zones.

According to its website, Awal Impex, set up in 1943, is a holding company and investment house with a significant presence Middle East, Africa, Asia and North America.

Its operations take in telecommunications, oil and gas exploration and trading, roads and highways designing and development, construction and development, manufacturing, retail distribution and financial services as well as food and hospitality, aviation and healthcare services.