Govt pumped funds into economic zone: Eoe

KIKORI MP Soroi Eoe says the Ihu special economic zone (ISEZ) was approved by the Government two months ago.
Eoe said the project came to a level where the Government had already put some funding into it.
“Hopefully when the accounts open, much of this will go into operation,” he said in Port Moresby yesterday during the handover ceremony of Public Service Ministry to new Minister Joe Sungi.
“For the ISEZ project, we are looking at the requirements of the law, social mapping, land mobilisation, environmental studies will be conducted, so it is more like a first special economic zone in the country.”
Eoe said the ISEZ would create employment opportunities as well as economic activities and infrastructure development enabling service delivery in the area.
The project will make significant contributions to the country’s economic growth into the future, increase country’s gross domestic product, creating employment, boosting growth in the small-to-medium enterprise sector, meet local and national content obligations and improve livelihood through infrastructure development.