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House to DHS: Save investor visas
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Posted on Oct 08 2008
In a unanimous vote Tuesday, CNMI House lawmakers passed a resolution calling on the Department of Homeland Security to let the CNMI maintain a visa program tailored around the needs of foreign investors as federal authorities craft regulations for their takeover of local immigration rules.
Investor visas have become a critical issue in the CNMI after President Bush earlier this year signed into law legislation that establishes federal authority over the CNMI’s visa programs. Currently, the CNMI administers its own visa program, which gives foreign investors special consideration as a way to bolster the local economy.
The resolution, now bound for a vote in the Senate, urges DHS to maintain this program for as long as possible, or at least during the transitional period as the federal takeover begins. Its leading sponsor, House Floor Leader Joseph N. Camacho, said in an interview this is critical to helping investors adapt to any new federal requirements.
“What we’re asking right now is that DHS would maintain our number of foreign investors for the period of the transition,” he said, adding that investors need “breathing room” to work on how they will adjust to any new changes and work with business and government leaders on the issue.
“It’s very important to the economy here in the CNMI that we listen to our foreign investors,” he added. “The abrupt change, it’s going to hurt a lot of investors and they need some breathing room to figure out how to accommodate it and the investors in general.”
DHS is now crafting regulations based on the recently signed legislation, which are due for release sometime later this year.
