A group of investors that is said to own several hotels in China is working to open a bed-and-breakfast business on Saipan to \u201ctest the CNMI market.\u201d<\/p>\n
Wing Piu Billy Lam disclosed in an interview Monday night that he is representing American Huasheng Trade Co. that has acquired a two-story building along Tasi Drive in Dandan. <\/p>\n
The residential building currently has six bedroom units and Lam said American Huasheng is investing $35,000 to convert it into a bed-and-breakfast establishment.<\/p>\n
American Huasheng has applied for a permit with the Zoning Office to operate the bed-and-breakfast establishment. The Zoning Board will conduct a public hearing about the company\u2019s application tomorrow, Thursday, at 5pm at the Pedro P. Tenorio Multi-Purpose Center in Susupe. <\/p>\n
It is the company\u2019s first investment in the CNMI. If successful, Lam said the company wants to build a hotel on Saipan.<\/p>\n
He said the company is composed of investors from China and their target markets are Chinese, Korean, and Japanese tourists.<\/p>\n
Lam conceded that many investors are concerned about what they have heard about the CNMI economy after Super Typhoon Yutu\u2019s destruction last October, as well as the lack of a ready labor force.<\/p>\n
\u201cBefore, it was easy to build something because there were a lot of workers. Before, it was easy to get visa investors for 10 years,\u201d Lam said.<\/p>\n
He hopes the CNMI government would help investors and improve the economy by informing U.S. Citizenship and Immigration Services that the lack of CW-1 workers is badly affecting businesses.<\/p>\n
\u201cMany investors see empty establishments on the island,\u201d Lam pointed out. <\/p>\n","protected":false},"excerpt":{"rendered":"
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