Why the Omnibus Reforms Act

At Issue: While the rest of global village realigns in preparation for the “new economy”, we seem to take long siestas.

Our View: Need we perpetuate the anti-business attitude as to ruin investment opportunities for these isles?

It’s appalling how certain politicians haven’t seen the destructive effects of the drop in business volumes in these isles. Worse of all, they fuel such debilitating condition with their well-earned trophy of intransigence or anti-business sentiment.

If we may illustrate: The NMI isn’t endowed with a birthright on natural resources nor is it the sole investment venue in the global village. Like most countries, it must set its investment infrastructure in place before it could lure lasting investments.

A recent story in the Yomiuri Online edition “Arizona: A magnet for Japan-related business” is a positive tale of how this state has become one of two highest investment centers across the country for Japanese businesses.

The Desert Ridge Community in northeast Phoenix is the home of Sumitomo Sitix Silicon Inc. founded in 1997 manufacturing a thin, disk-shaped semiconductor material used in the production of computer chips and other integrated circuits. some 4 million wafers are used monthly worldwide.

This community has blossomed with the convergence of residential, retail and manufacturing facilities, bringing in an annual payroll of more than $14 million to the area; plus spending on local goods and services estimated at $16 million. So what has attracted Japanese companies to Arizona? It’s the state’s pro-business nature that has lured especially those in the field of semiconductors, medical equipment, computers and services More businesses are finding operation, land and employment costs competitive in Arizona compared to California.

The state has pitched-in with job-training programs for companies relocating or expanding to help offset their training costs. Mitsui Components (USA) Inc. is an example of a company that has taken advantage of the program. The scheme is especially useful when special skills or knowledge are required for employees starting to work at high-tech companies for the first time. Other business giants are moving into Arizona such as Motorola Inc.

The NMI is resource-poor, its tourism industry having taken a nose-dive in recent years depicting its fickleness while the much maligned apparel industry has proven sturdy amidst the deepening crisis. Other than our well-honed anti-business mentality, what other economic substitutes have we found to replace current industries so that the thousands who are jobless can find meaningful employment in paradise turned into a hellish hole for our children?

At any rate, we salute Senate President Manglona’s efforts for urging his colleagues (even without Senator Pedro Reyes who held HB 12-39 hostage for no other than political grandstanding) to consider the measure forthwith. As difficult as it may seem, Senate President Manglona knows that fast-tracking the bill is the appropriate action to take versus a slow rude awakening. Again, Si Yuus Maase` Mr. Manglona for your proactive approach to our deepening economic problems.