Official suggests PMIZ project be co-funded

Business

THE Madang Chamber of Commerce and Industry (MCCI) has suggested the development of the Pacific Marine Industrial Zone (PMIZ) project in Madang should be a joint venture between the corporate sector and the Government.
Chamber president Kevin Murray said it was unlikely that the Government could solely fund the project.
The Government allocated K100 million for the project in the 2022 National Budget, with an estimated yearly accumulative total of K1.2 billion at the end of 2025.
“The PMIZ project has been on and off for about 10 years,” Murray told The National.
“If it does go ahead like promised, it will be a major development for Madang.
“It has been promised a number of times in the past and I can’t predict what is actually going to happen. We are all hoping that it’s going to go ahead.
“It more than likely should be a joint venture by the corporate sector and government.
“I don’t (think) the Government is going to fund it and frankly, companies who are going to build their business within the PMIZ are obviously going to bear the cost of building their own infrastructure.
“The Government can help by providing roads and other infrastructure for commercial activities.
“Companies themselves should be able to build their own factories or production facilities for the PMIZ.
“The Government should play its part by making sure that there are proper roads, water is provided and there is electricity.”

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