Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.
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PNG Government Grants Special Economic Zone status to Central Cement and Lime Project
Managing Director Paul Mulder said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for
Bougainville Affairs & Defence, Hon. James Marape, in the establishment of this SEZ, as it sets the right conditions for
large scale investment to thrive and catalyse down-stream processing in the SEZ that will particularly benefit the
people and the manufacturing industry in PNG.”
How Special Economic Zones are Reshaping the World Economy
SEZs are business parks granted legal autonomy to improve their governance. Companies operating within SEZs enjoy unique tax breaks, streamlined government regulations, special VISA rights and different labor laws. This enables businesses to operate in emerging markets without the usual problems that businesses in the developed world face. SEZs have also rehabilitated traditionally bad investment destinations, creating bastions of economic growth in unlikely locations. The most well-known case studies of this come from China.
Read moreReform overhaul to put rocket under productivity
With the country already experiencing a peak in major projects, Infrastructure Australia chief of policy and research Peter Colacino said the industry needed to reform in order to meet the looming pipeline of projects. “The industry can’t deliver the scope of work unless it adopts the change,” he said. “We’ve pointed to things that are proven, have delivered productivity gains elsewhere, are well evidenced in terms of what we’re putting forward. These aren’t unproven solutions.”
Read moreTaking the big smoke to the bush
“Not by a decentralisation policy where we shift public servants from government agencies out into country towns. But where we flip that model, identify the unique competitive advantage of the region, and use that to attract people … but also businesses who are keen to relocate if we get the infrastructure piece right.”
Read moreExpanding Your Business into Asia: Why Location Analysis is Key
This is another example of how Special Economic Zones in China are being ( and have been since 1978!) presented as locations for FDI. Australia is becoming less and less competitive. These policies can be simply introduced in Northern Australia and across Australia.
Read moreRinehart’s fear: Don’t strangle our Olympics
In a rare interview, Ms Rinehart, who sponsors four of Australia’s Olympic sports, insisted that for Brisbane to fulfil its potential as the 2032 Games host, investors must be given a way to saw through the governmental red tape she believes has stalled many crucial business opportunities in Queensland. “I really enjoy being involved but the parents are the real heroes because they have been there since the journey began,’’ she said. Ms Rinehart has promised to continue her support beyond this Olympics.
Read moreBrickworks slams IMF carbon tax
“(Australian governments) are into the rule book to try and find out how they can stop you doing what you want to do, or try and delay you, whereas in America, representatives of the governor will come and see you and ask you how they can help,” he explained.
“We need to be prepared to relax the regulations so companies can function. It’s just too onerous at the moment, and very difficult for companies to invest in Australia,” he added.
Approvals reform can protect natural assets & boost economy
The Minerals Council of Australia estimates that the EPBC process can cost companies developing greenfield resource projects up to $47 million every month. Professor Samuel recommended the job-destroying duplication should be addressed by improving, strengthening, and streamlining the capacity of the Federal Government to delegate approval functions to State governments.
It’s time to get on with reforms to better protect natural assets and deliver a needed boost for our economy.
Unilever to invest $175.4 mln in Indonesian special economic zone
The fast-moving consumer goods giant plans to expand its oleochemical factory, which can hire 600 new workers directly and potentially create 6,000 new jobs “indirectly”, Arif Hudaya, finance director at PT Unilever Indonesia, said in a statement.
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