BY SAMIE WAIKORI

The Government for National Unity and Transformation (GNUT) has reaffirmed its commitment to advancing the Special Economic Zone (SEZ) initiative and the development of a National Industrialization Policy.

Speaking at a recent press conference, Prime Minister Jeremiah Manele said the establishment of SEZs aims to promote investment in rural areas by offering business-friendly conditions.

He said the SEZ Bill, now before Parliament, is designed to stimulate investment, streamline business processes, and create employment—especially in rural communities.

“These zones will offer tax incentives, infrastructure support, and customized regulatory frameworks to attract both domestic and foreign investors,” PM Manele said.

He added that key sectors to be supported under SEZs include manufacturing, tourism, and agriculture.

Alongside the SEZ initiative, GNUT is also working on a National Industrialization Policy aimed at boosting local industries through improved infrastructure, access to technology, and expanded market opportunities.

Meanwhile, the Prime Minister outlined significant fiscal reforms that the GNUT government is set to undertake, starting with a comprehensive review of the national tax system.

“Our goal is to establish a fair, simple, and broad-based tax regime to ensure everyone pays their fair share,” he said.

PM Manele outlined a phased approach to tax reform:

Phase 1: Involves the Tax Administration Act, which has already been passed, and the upcoming Value-Added Tax (VAT) Act, expected to be tabled in Parliament soon.

Phase 2: Began in 2024 following Cabinet’s endorsement of key policy directions. This phase will cover reforms to the Income Tax Act, and later include reviews of excise taxes and resource rent taxes.

The GNUT government says these efforts are vital to modernizing the economy and fostering long-term sustainable growth.

For feedback, contact:[email protected]