MP: Project plans ready for NEC

Business

SUBMISSIONS on two free trade zone projects in East New Britain have been completed and ready to be tabled in the National Executive Council.
They are the Gazelle Agro-Industrial Development Corporation (AIDC) and the Rabaul tuna export processing zone – two pilot projects under the PNG free trade zone development policy and strategic development plan.
Gazelle MP Jelta Wong said they would try to convince the Government that the two projects should provide a basis for free trade zone development in the country.
They come under the East New Britain free trade zone pilot projects.
The projects were presented to the Gazelle development authority board members on Oct 5.
The board members were told that the projects would complement each other:

  • GAZELLE being an agricultural area will provide raw materials base for the two projects;
  • TOKUA airport will host national and international air transport services for the two projects; and,
  • RABAUL port facilities will provide sea transport services needed by the two projects.

According to an Asian Development Bank report, the country’s economy will recover modestly in 2021 and 2022 although financial stresses will persist.
Wong said the projects would be the catalyst for investment and growth in the province.
The Rabaul tuna project is expected to create 3,000 jobs.

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