Incentives will lure foreign investors to PNG: Maru

Papua New Guinea must provide better incentives to lure in foreign investors.

Minister for International Trade and Investment Richard Maru said "you cannot bring in investors and build a country that's less attractive, without incentives. You cannot because you are competing with the rest of the world for the same investment.

"So when you talk about investments, you've got to think about what you're talking about. You will not attract them without incentives.”

While talking on the construction of a casino at the Paga Hill Special Economic Zone [SEZ], Mr. Maru clarified that the construction of the casino, also comes with other developments.

"Paga Hill has a 22-story building already, and another three more [awaiting] the building board approval.

"By the time Paga Hill is finished, it's going to create 13,000 new jobs. This is the most significant land in the whole city.

"And when developed, it will transform the landscape of this country," Maru added.

Mr. Maru also looks forward to providing better incentives for other investment opportunities in SEZs and other areas.