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July 24, 2021
Business Momase News

PMIZ: What are the benefits?

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On the 15th of November, landowners groups in Madang will go back to court to apply for an interim injunction to stop the planning and construction of the Pacific Marine Industrial Zone or the PMIZ in Madang.

The PMIZ is a free trade zone which means labor and tax regulations   will be relaxed to cater to the needs of businesses.

The PMIZ is to be built using funding from a 200 million US dollar concessional loan from China.  But the drawdown of the funds has been stopped by the National court until it decides on an injunction.

News Video: Scott Waide takes a closer look at the concerns surrounding the PMIZ and Free trade zones.

https://youtube.com/watch?v=LrfeauuhI-c%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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