To stimulate growth for the Manus Special Economic Zone (MSEZ) project, PM James Marape has stated that companies operating in Manus don’t have to pay corporate taxes.
The prime minister made his comments at the opening of the Momote Airport terminal. He added that the terminal cost K32 million and needed to generate money for the region. The total cost of the terminal’s construction and the airport development was K101.9 million.
The new facility was funded by the Asian Development Bank and the Papua New Guinean government. The National Airports Corporate implemented it as part of the civil aviation development programme.
Marape said, “We have already passed a law that Manus will become a special economic region in our country. Any company who wants to operate in Manus will not pay corporate taxes.”
“I welcome PNG and international companies into Manus. You can come and set up your base in Manus and employ locals. You can pay your GST (goods and services tax) and others, but no corporate tax as a way to make this airport generate more money and for a port to generate more money for locals and PNG because we want all parts of our country to generate economic activity,” he said.
The prime minister added that the government would also provide K10 million in funding to establish an MSEZ head office in Lorengau. He said the project could result in Momote becoming an international airport and was part of a push to make growth more equal across the country.
The prime minister said, “This office (MSEZ) will work with the airport and the Manus provincial government for us to grow commerce and business here in Manus. I believe that Manus will grow. The special economic zone and the road for Manus to become economically independent and a resilient local economy contributing to PNG.”
“We want every part of the country to be strong,” Marape added.
