Mori promises land titles to investors

Business

Government will issue land titles for investors interested in the multi-million kina Pacific Maritime Industrial Zone (PMIZ) project in Madang.
Commerce and Industry Minister Wera Mori, pictured, during the launching said the titles would be issued to investors keen to set up processing plant or manufacturing factories at the project site.
“They can come in to invest and set up companies to catch fish, set up loaning factories or canning factories that would contribute to our fishery sector,” Mori said.
“This is one of the post-Apec activities the department (Commerce and Industry) is doing to realise the potential of the country in the fishing industry and we will be working in partnership with the National Fisheries Authority (NFA).
“There will be multiple benefits through this plan and in order for that to happen we have to expand our economic space.”
Commerce and Industry Secretary Andrew Liliura said the funding for the first phase of the PMIZ project was ready and waiting for National Executive Council submission for the funding through the EXIM Bank of China.
“We are expecting a US$156 million (K500mil) to implement phase one. This would include a berthing wharf, electricity, road infrastructures and water supply.”
The PMIZ project launched three years ago had not seen much development over the years.
“Within the PMIZ project sites sustainable and inclusive economic growth,” Liliura said.
“The projects has been largely talked about but at least we are doing something.
“The project will have multiple benefits including employment to unemployed youths.
“The loin and canning activities is expected to be absorbing 80 per cent of the 35,000 spin-off employees, not only for Madang but Highlands and all the coastal provinces.
“The projects are aimed at improving the basic livelihood of the people in terms of education, health and water supply,” Liliura said.
The PMIZ project is on 215 hectares of land with 100 hectares for canneries and 115 hectares for residential and commercial purposes.
It was estimated that once fully developed the PMIZ will accommodate 10 tuna processing plants and would create 30,000 jobs in the cannery project.

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