BY SAMIE WAIKORI
The national government, through the Ministry of Commerce, Industry, Labour and Immigration (MCILI), is taking steps to establish the secretariat and board for the Special Economic Zone (SEZ) initiative.
Part of this effort includes the recruitment of a highly qualified CEO, who will be tasked with driving the SEZ’s development, a key initiative aimed at transforming the nation’s economic landscape.
The proposal marks the first major implementation of the SEZ after Parliament passed the initiative earlier this year.
Speaking in Parliament recently, the Minister for Commerce, Harry Kuma, confirmed that his ministry has secured budget funding to set up the SEZ board next year.
“We are currently in the process of establishing the SEZ secretariat and board. These must be set up first.
“Once the board is in place, they will recruit a world-qualified CEO to lead the initiative. We aim to recruit the CEO in 2026,” he said.
The Minister furthered that to begin the roll-out of SEZ, government will focus on locations that already have basic infrastructure in place, to minimize upfront costs.
“We will begin with areas where infrastructure exists, making it easier and quicker to establish operations and grow from there,” he said.
In a separate statement, Prime Minister Jeremiah Manele described the SEZ as a breakthrough to attract investment and stimulate the country’s economic growth.
“The SEZ is designed to foster investment, streamline business processes, and create employment, especially in rural areas.
“These zones will offer tax incentives, infrastructure support, and customized regulations to attract both local and foreign investors, focusing on sectors like manufacturing, tourism, and agriculture,” he said.
Rex Ramofafia, the former Planning Minister and current Minister for Finance and Treasury, echoed the Prime Minister’s sentiment, noting that the SEZ will create a business-friendly environment, encourage investment, and bring economic opportunities to long-neglected areas.
“This initiative will not only create jobs and boost local businesses but will also help increase foreign exchange receipts and contribute to a more diversified and resilient economy,” Ramofafia said.
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