Govt to offer 10yr tax exemptions for SEZ investors

A TAX holiday of a maximum 10 years will be given to those investing in the special economic zones around the country, says International Trade and Investment Minister Richard Maru.
Maru told the Australia and PNG Business Council members yesterday in Port Moresby that the mineral resource projects construction would boost the national economy in the next 15 years and was the perfect window for investors to invest in the country.
“Not only will we have four new mineral resource sector projects running, but we are targeting 20 special economic zones around the country by 2032,” he said. The constructions of the Papua LNG, Wafi-Golpu, P’nyang LNG, Pasca Project A and the re-opening of Porgera are all expected to boost the country’s economy, which will then boost the Gross Domestic Product to five per cent.”
Maru said investors in Australia and PNG were in a better position to benefit from these incentives which the SEZs authority had put in place.
He said law and order problems should not affect investors because they would be in a better position to understand the economic climate of our country.