central region will concentrate on mining

10.11.2011
Source: Post-Courier


ABG strategises economy
By GORETHY KENNETH


THE Autonomous Bougainville Government should be financially secure in the next three years if a major and special economic zoning strategy they have established is adhered to and followed.
President John Momis’ detailed report of the Special Economy zoning (SEZ) is set in a way that would strategically and regionally benefit Bougainville.


According to the report:



* North Bougainville Region should concentrate on Cocoa (chocolate) and Tourism. (Preparation of cocoa to be processed in Bougainville for chocolate with a chocolate factory being set up.
This would be done in north Bougainville. This town would focus on cocoa as its main economic priority as a SEZ primary product to stimulate direct investment development. It is envisaged that this establishment’s infrastructure will bring in multinational companies and industries for partnership arrangement.


* Central region will concentrate on mining industries, infrastructure processing and;


* Southern region will have the tuna cannery, animal husbandry and rice packaging etc.
The ABG will also focus on “The Happiest Town” promotion with benefits to include:
* Public investment (basic facilities) $US1.4 billion (K3.49 billion). Roads, bridges, seaports, airports, hydropower, medical, stadiums, technical colleges and other amenities. The Chinese Government will loan to ABG at 2% interest for 60 years a K24 million repayment annually.


* Private investment benefit K3.57billion ($US 1.39 billion).
* Industrial investment — USD $US600 m (K1.397 billion)
* Commercial real estate investment $US323 m (K752 million).
* Residential real estate — $US167 million (K389 million).
* Tourism — $US50m (K116 million)
* Trades — $US100m (K232 million)
* Service — $US50m (K116 million.