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Papua New Guinea Pins Its Hopes On New SEZs

The government has a pipeline of 12 special economic zones to diversify the economy



SEZs are a pillar of the government’s plan to diversify its economy away from resources. Hydrocarbons and metals accounted for 86% of PNG’s goods exports in 2021, according to the UN’s Economic and Social Commission for Asia and the Pacific. They also drew 82% of its inbound FDI over the past 20 years, according to fDi Markets.


So far, the government has licensed one SEZ: the K4bn ($1.1bn) lifestyle-focused Paga Hill precinct along Port Moresby’s waterfront, the first two projects of which are a casino being built by local developers and a K130m luxury apartment building reportedly backed by Malaysian property investor Jimmy Poh.


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