On information technology
The Issue: CNMI must hasten review of legislation to establish legal infrastructure for IT.
Our View: Although we have the comparative advantage, it still requires critical review.
Half a world away, European countries have domesticated Dot.Coms. The Nordic countries have captured their own niche generating unprecedented jobs and wealth creation. Japan wants to regain the glory it once had on technology supported by an ambitious national policy to achieve this goal.
Other Asian countries have embarked on their own set of aggressive agenda to claim the trophy of the Information Technology, i.e., techno hub. The Philippines too has made progressive inroads on IT. Here in the islands, legislation to set the legal infrastructure for IT is still stranded in the Senate.
The CNMI has its own comparative advantage for investors in hi-tech industries that includes low labor costs and generous tax breaks. But there are multifaceted sets of criteria used by high-tech companies when considering a site, according to a special report published recently in the Wall Street Journal. It includes the following:
Essential Criteria: Access to a skilled and educated work force, proximity to world-class research institutions, an attractive quality of life; and access to venture capital.
Important Criteria: Reasonable cost of doing business, an established technology presence, available bandwidth and adequate infrastructure; and favorable business climate.
Desirable Criteria: Presence of suppliers and partners and availability of community incentives.
Meanwhile, the IT parade moves on before our sleepy visions and nimble minds. It’s unfortunate how more than half the leadership seem to be groping for answers in the strange corners of their minds wondering just what this creature called Information Technology is all about. This attitude persists while young pupils here are taught the use of computers, the new tool of the 21st century.
How would the CNMI benefit from IT investments? This is the very question that requires critical review by leadership after we have established the legal infrastructure for Information Technology.
IT is the new tool in the conduct of business in both sectors of the global village. It is really up to us to build the bridge of opportunities in this regard for posterity. We no longer can afford long lunches and siestas on this vital issue. Si Yuus Maase`!
