BY INDY MAEALASIA
PREMIER of Isabel Province Lawrence Hayward has expressed concerns over the Special Economic Zone (SEZ) Bill 2024, describing it as “ambitious” and emphasizing the need for vital infrastructure and services to be established before moving forward with SEZ initiatives.
“We have no issue with the bill; however, we feel it appears overly ambitious with a lot of excitement. We say this because of current limitations against us,” Premier Hayward told the Bills and Legislation Committee on Wednesday.
Hayward highlighted the importance of providing essential infrastructure and services—such as roads, electricity, wharves, and water supply, particularly in the provinces, before designating and declaring areas for SEZs.
He also raised concerns about security, stating, “No investors would be interested to come if these are lacking.”
The Premier stressed the need to start small and expand gradually, learning from Fiji’s approach to similar initiatives.
Hayward also pointed out certain aspects of the bill, such as tax breaks of up to 10 years, questioning whether the country has the capability to sustain itself while offering such incentives.
“Too many tax breaks. Can we afford to give these for up to 10 years? Do we have the capacity to sustain the country while these economic zones are booming, and we sit back without collecting any revenue from investors?” he asked.
Hayward also shared his concern for the lack of provincial government role in such bill if enacted, emphasizing the important role provincial government might play.
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