A few days after returning from Hong Kong with Gov. Eloy S. Inos, House floor leader Ralph Demapan (Cov-Saipan) said yesterday that an investor group is eyeing close to $3 billion in total investments in the CNMI inclusive of hotels, villas, and a private medical center.
Demapan and Inos left for Hong Kong last week to meet with the investor groups.
“It was a fact-finding trip,” Demapan told Saipan Tribune yesterday. “They were talking about potential investments in the CNMI of close to $3 billion over a certain period of time and based on my observation, they are serious in investing in the CNMI.”
But as of yesterday, the administration has yet to issue details about the governor’s trip to Hong Kong.
Demapan said a total of between “1,000 and 2,000 hotel rooms” are expected to be built on Saipan, Tinian, and Rota.
“They were talking about an integrated hotel resort project on Saipan, Tinian, and Rota. It is good to know that foreign investors are enthusiastic about the CNMI and we would like to welcome them to invest here. It will help our economy and help create jobs,” Demapan added.
The governor’s visit to Hong Kong came weeks after he went to South Korea to meet with E-Land top executives. E-Land, through Micronesia Resort Inc., owns Coral Ocean Point, Pacific Island Club and the former The Palms. E-Land/MRI also is one of the two investor groups that were on the Department of Public Lands’ short list to lease public land in San Antonio to build a new hotel with at least 200 rooms.