DOI-sponsored confab opening fills L.A. Marriott’s ballroom

By MARIAN A. MARAYA
Special to the Saipan Tribune

LOS ANGELES, California—The 2004 Business Opportunities Conference kicked off to a lively start here Thursday morning, with the ceremonial opening remarks by seven heads of states and Interior Deputy Assistant Secretary David Cohen in this two-day forum that touts the Pacific region’s rich business and investment potentials.

The Department of the Interior-sponsored annual event drew attendees that filled the 800-seater Grande Ballroom of the downtown Los Angeles Marriott Hotel. It was approximated that between 900 and 1,000 signed up for the conference, although not all showed up for Day 1 of the event.

Clad in bright yellow island shirts limned with the CNMI signature flower, Plumeria, members of the Northern Marianas delegation stood out among other participants from the six other island jurisdictions: American Samoa, Guam, the U.S. Virgin Islands, Federated States of Micronesia, Marshall Islands and Palau.

Cohen, who opened for the speakers, gave brief descriptions of each Pacific entity’s history and business-related strengths, citing “win-win opportunities” that islands jurisdictions and private entrepreneurs could gain out of forging business partnerships.

The opening session headlined welcome speeches by presidents and governors, namely; Marshalls President Kessai Note, FSM President Redley Killion, Palau Ambassador to the U.S. Hersey Kyota, A. Samoa Gov. Togiola Tulafono, CNMI Gov. Juan N. Babauta, Guam Lt. Gov. Kaleo Moylan, and U.S. Virgin Islands Gov. Charles Turnbull.

Given five-minutes each on the podium, the heads of states expounded on opportunities available in their areas, mostly describing tourism and real estate development potentials as winning propositions.

Babauta, for his part, reiterated the many advantages of setting up shop in the CNMI. He cited, among others, the security of the U.S. legal system, the stability of the U.S. dollar, the local presence of banks that are FDIC insured, and the protection of the U.S. military.

He added the absence of federal income taxes, the ‘generous’ local tax abatement program for new investors, the CNMI’s control of its own immigration and its exemption from the Jones Act (pertaining to cargo shipping) as among many of the CNMI’s competitive edge.

“These are all advantages that government provides. But government is only the backdrop for economic development. The real players on the stage are business people like yourselves,” Babauta appealed to the diverse audience of Pacific government dignitaries, business leaders and other conference attendees Thursday.

Guam Lt. Gov. Moylan, during his address, confidently stated that investing in this U.S. territory is sure to pave the way for partnerships with the rest of the Pacific islands. “When you think of doing business in Guam, think of doing business with all of us.”

The CNMI delegation to the 2004 Business Opportunities Conference comprised of public and private sector officials numbering around 30, according to governor’s press secretary Peter A. Callaghan.

Galvin Guerrero, special adviser to the governor, confirmed the attendance of some 30 CNMI delegates, noting that half of the delegation’s trip to Los Angeles was not being shouldered by the local government.

Callaghan also noted that 10 of the 30 were delegates from the private business sector while the rest were elected officials and selected staff.

Other Pacific jurisdictions came in relatively large groups. A representative from American Samoa stated that her delegation was between 30- to 35-member strong.

Following the opening session, the conference progressed into break out sessions. DFS president Marian Aldan-Pierce and Commonwealth Ports Authority executive director Carlos H. Salas delivered separate presentations on promising opportunities in local tourism and shipping, respectively.

Pleasant Care executive vice president Sedy Demesa, a big investor in the islands, made a presentation on Saipan as a lucrative business destination. Her flash presentation received applause from the audience present.