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New SEDC-like group to focus on attracting new investors
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Posted on Jan 24 2006
Gov. Benigno R. Fitial will form a new business group that will focus on formulating strategies to attract new investors to the Commonwealth.
According to press secretary Charles P. Reyes, the group will be similar to the Strategic Economic Development Council. But while the SEDC’s main goal will be to maintain existing businesses, the new business organization will concentrate on new investments.
The new business advisory group will be composed of 10 individuals from the private sector, two of whom will also sit on the SEDC. Reyes said the members would be named later.
No public funds will be paid for the new organization.
“It’s just an initiative to get businesses involved in identifying the needs of the private sector,” Reyes said.
The SEDC has been a major force in the Garapan revitalization project and the qualifying certificate program.
Fitial vowed in his inaugural address to be the governor who will revive the Commonwealth’s slumping economy and restore finance integrity in the government.
“This administration’s top priority is the economy—the foundation for education, public safety, health and welfare, infrastructure development, and social programs,” Fitial told the overwhelming crowd that turned up for the inauguration rites.
“Tim and I will be ‘Economy Governors’ because we were elected on that basis and under this economic crisis. And because we cannot serve our constituents well if our economy continues to languish as it has for the past four years,” he had said.
