East New Britain Province is poised for significant economic growth with the announcement of two new Special Economic Zones (SEZs): Rabaul Free Port and Tokua Airport City. Minister for International Trade and Investment, Hon. Richard Maru, revealed these ambitious plans following the NEC’s decision to lift the moratorium in Rabaul and initiate a redevelopment drive.
The proposed Rabaul Free Port aims to leverage existing infrastructure and new developments, including a tourist cruise liner wharf, to attract investors with enticing incentives such as tax holidays and duty-free privileges. Minister Maru highlighted the strategic benefits of transforming Rabaul into a Free Port, emphasizing its potential to mitigate risks associated with volcanic activity through targeted economic zones.
Meanwhile, plans for Tokua Airport City envision a transformative development around Tokua Airport, similar to Denarau in Fiji, complete with hotels, golf courses, shopping malls, and enhanced airport facilities. This initiative seeks to bolster tourism and attract direct international flights, positioning East New Britain as a premier destination for global travelers.
Minister Maru underscored the economic potential of these SEZs, projecting the creation of 20,000 to 50,000 new jobs across manufacturing, tourism, and downstream processing sectors. Collaborative efforts between the National and Provincial Governments, supported by robust infrastructure investments, are set to unlock East New Britain’s full economic potential under the SEZ Act 2019 (amended).
As discussions progress, Minister Maru affirmed the Government’s commitment to strategically develop additional SEZs in East New Britain, subject to rigorous evaluation and national legislative frameworks. This ambitious economic strategy underscores a concerted effort to harness East New Britain’s natural and cultural assets, positioning it as a pivotal hub for sustainable economic development in Papua New Guinea.
The Rabaul Free Port initiative, anchored in existing and new infrastructure developments, including a dedicated wharf for tourist cruise liners, aims to attract substantial investment. By offering incentives such as tax holidays and duty-free privileges within designated zones, this SEZ is projected to stimulate significant economic activity. It is estimated that the Rabaul Free Port alone could create up to 30,000 new jobs across various sectors, from logistics to hospitality, contributing to local employment and economic diversification.
Similarly, the vision for Tokua Airport City seeks to capitalize on Tokua Airport’s strategic location by transforming it into a bustling hub similar to Denarau in Fiji. This development is expected to enhance tourism infrastructure and foster new business opportunities in hospitality, retail, and aviation services. With plans to expand Tokua Airport into an international gateway and attract direct flights from key markets, such as Japan, the SEZ promises to unlock East New Britain’s potential as a premier tourism destination in the Pacific.
The economic impact of these SEZs extends beyond job creation. It includes bolstering local businesses through increased market access, attracting foreign direct investment, and enhancing regional connectivity. Minister Maru’s emphasis on developing robust infrastructure—such as water, power, roads, and sewerage—underscores the government’s commitment to providing essential enablers for sustainable economic growth in the province.
As East New Britain positions itself as a hub of economic opportunity, collaboration between the National and Provincial Governments becomes crucial. Strategic alignment and effective implementation of the SEZ framework under the SEZ Act 2019 (amended) will be pivotal in realizing these ambitious plans. Moreover, ensuring transparent governance, community engagement, and environmental stewardship will be essential to balancing economic development with sustainable practices.
East New Britain’s journey towards establishing Rabaul Free Port and Tokua Airport City as SEZs represents a bold step towards unlocking its economic potential. With careful planning, robust infrastructure investments, and proactive stakeholder engagement, these initiatives have the potential to transform the province’s economy and serve as a model for sustainable development in Papua New Guinea’s broader economic strategy.
Comments