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Forum preps biz for federalization, military buildup
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Posted on Aug 28 2008
The pending federal takeover of local immigration rules and the upcoming military buildup on Guam were key issues Thursday at a first ever business forum organized by the Commonwealth Development Authority and Department of Commerce.
The forum, held at World Resort, drew a significant crowd and included presentations on the impact of the newly signed “federalization” bill, immigration and labor issues and potential business opportunities in the region.
In opening remarks, Gov. Benigno Fitial singled out the major military expansion on Guam in the near future as a key chance for the CNMI to bolster its economy.
“While our local government works for adequate access to labor by dealing with the federal government, we must do what we can to innovate and survive these lean times,” Fitial said. “We must take advantage of the opportunities that exist, as well as the opportunities we can expect to exist in the future.”
Preparing the business community for the future and improving the government’s relationship with the private sector, acting Commerce Secretary Michael Ada said, was the impetus for holding the event, the first of its kind in the CNMI.
“The whole purpose is to prepare businesses for the real-life challenges that they will be facing and that are facing the CNMI, along with preparing them for some of the opportunities,” Ada said. “To me, this is a springboard to further workshops, further programs and further dialogues geared at the military buildup and geared at the development of local businesses.”
In addition to the presentations, the forum got a motivational boost from entrepreneur Anthony Pellegreno and business writer Walt Goodrich, who detailed new local business opportunities like investing in the sale of local crafts, aquaculture and marketing CNMI-grown produce.
“I hope that people realize there are business opportunities out there that we have forgotten to explore,” Pellegreno said. “People go looking for outside investors for businesses when they forget they have investment potential right here.”
