Protecting investments in these isles

It is a basic tenet that innovations in technology or manufacturing never comes out of government given the nature of its role.

Thus, life enhancing products or services originate from the private sector. It fuels wealth and jobs creation that allow for the multiplier effect to move forward, unhindered.

In short, wealth and jobs creation originate primarily from the private sector. Anything after that is subject to policy refinement that dictate cost of business.

In the case of the CNMI, wealth and jobs creation come from the private sector often without input from the public sector. How sad and unfortunate that such was the case until the signing of the Investment Incentive Act of 2000h, recently.

I find it troublesome that many of our so-called “elected” leaders never saw what was coming down the pike four years ago. Neither was city hall prepared to even lift a finger to mitigate the onslaught of the Asian crisis. Thus, the net effect of the closure of over 2000 businesses.

The plummet of the local economy turned for the worst when, in our infinite wisdom, policy makers decided to approve protectionist measures fueling the closure of more tourist related businesses.

I’m hoping–with guarded optimism–that we would begin shifting our attitudes about investments and make it a point to understand and compliment their requirements especially at the initial stage. Mind you, any major investment needs at least a decade to recoup original cost. Once this cost is paid off, there’s the next question of whether it would make it as a permanent fixture of the local economy.

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Ironically, proponents of substitute industries have obviously been very long on rhetoric, awfully short on, well, substitutes or anything beyond our ailing tourism and struggling apparel industries.

If anything, our so-called leaders have never displayed any agility at viewing the larger picture. For the most part, they have only been able to show off their tunnel visions. It’s a mind set that has contributed substantially to our own demise. Yet, they have the audacity to spin issues off as though they didn’t partake in ruining an already ruined economy.

Indeed, this leads me to believe that one of the fallacies of American Democracy is the ocean of vacuous space available to politicize issues beyond common decency. If Guam has blamed it on the Cha Cha Cha, eh, maybe we can claim a slightly different trophy and, say, blame it, baby, on the reggae, yeah? Gee, it’s comically warped but then it’s best to turn it into humor in order to retain personal sanity.

But each miscue obviously translates into setbacks that has sent us reeling for some decent answers only to plunge into more bouts with adolescency. As such, discussion in these isles are limited to trivia while the rest of the global community has gone ahead inking (normal and digital signatures) on an agreement exploiting the Information Technology in the interest of all in trade relations. We are nowhere near this level. In fact, we’re still swimming in the whirl of provincialism hoping another bamboo airplane flies the blue skies of paradise dropping tons of money from the heavens. A` Saina!

Well, at least there’s a ray of hope somewhere that would eventually descend in these isles one of these fine days. Keep your fingers crossed for any good tidings hopefully soon, di ba?

Strictly a personal view. John S. DelRosario Jr. is publisher of Saipan Tribune.