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<\/p>\nAlthough Hyatt Regency Saipan\u2019s announcement of closure was sudden, the issues they are facing didn\u2019t just happen overnight, according to Rep. Manny Gregory T. Castro (Ind-Saipan).<\/p>\n
Castro shared his views about Hyatt Regency Saipan\u2019s announcement to permanently close on June 30, 2024 during the House of Representatives special session last Thursday.<\/p>\n
Castro also stated that that the economic issues the CNMI are facing is an accumulation of systemic problems that happened over the years.<\/p>\n
Saipan Portopia Corp. president Hitoshi Nakauchi said in a statement that despite their best efforts and after months of careful consideration and exploring many avenues, the harsh realities of the current landscape have forced them to make the difficult decision to close the hotel on June 30. Saipan Portopia owns Hyatt Regency Saipan.<\/p>\n
Castro said the key thing that CNMI leaders really need to look at is eliminate the self-interests and mutual exclusivity in the laws and process.<\/p>\n
\u201cYou cannot address the problem if you don\u2019t look at the historical issues that caused it,\u201d the lawmaker pointed out.<\/p>\n
Castro said when COVID-19 hit, the CNMI had almost a billion dollars of assistance, but not every hotel received the same benefits.<\/p>\n
He said when the CNMI was paying tourists to come in through travel box, certain hotels were receiving subsidies.<\/p>\n
Castro said there are some hotels like Grandvrio Resort Saipan, Saipan World Resort, and Hyatt that maybe didn\u2019t get the same arrangement.<\/p>\n
\u201cWe have to look at who are the members that are getting the most benefit,\u201d he said.<\/p>\n
The lawmaker said when looking at investors, it\u2019s not just about investing, bringing in investors, but also investing from within.<\/p>\n
Castro said tourists want local products and local experience.<\/p>\n
He said during one of his flights, someone was mentioning to him where to get local food.<\/p>\n
Castro said there\u2019s very few restaurants that offer local food.<\/p>\n
He said one of the first bills that he introduced was legislation to help small businesses, \u201cbut it\u2019s still sitting.\u201d<\/p>\n
\u201cAnd I\u2019m not saying it because I introduced it. But we are trying. There\u2019s a lot of bills in here that we\u2019ve been introducing to help with the situation,\u201d the lawmaker said.<\/p>\n
Castro said a lot of these systemic issues are not going to be fixed overnight, so they really have to look at all the issues that have been accumulating over the past and correct them.<\/p>\n
\u201cBut you know, we really can\u2019t address this overnight, and it takes time,\u201d he said.<\/p>\n
Castro agreed with Rep. Marissa Renee Flores\u2019 (Ind-Saipan) statement that with all the money that came in during the pandemic, the CNMI\u2019s economic situation shouldn\u2019t be in this situation.<\/p>\n
\u201cWe really need to diversify our economy. We can\u2019t just rely on tourism alone. And this goes out to all the agencies. I\u2019m not throwing you under the bus or anything,\u201d he said.<\/p>\n
When it comes to public land, Castro said the Department of Public Lands really has to invite investors.<\/p>\n
\u201cWe can\u2019t look at these same rates and everything. But if we can bring in some of those investors to create jobs,\u201d he said.<\/p>\n
Castro also agreed with Rep. Thomas John Dela Cruz Manglona (R-Saipan) that the permitting process needs to be changed.<\/p>\n
He said when the Department of Commerce official was in the House earlier, they talked about where are they now with digitizing the application process.<\/p>\n
\u201cWe introduced a digital economy advancement bill. The laws we have in place some of them are really favorable [to businesses and anyone who live here] especially the tax laws. We get most of our money back for the taxes that we pay,\u201d Castro said.<\/p>\n
He said, however, the permitting process does need to be improved.<\/p>\n
\u201cWe really need to streamline our permitting process and also make it more convenient for businesses to pay taxes,\u201d he said.<\/p>\n
Castro said the CNMI pays too much attention to businesses that are cheating.<\/p>\n
\u201cAnd that\u2019s not a new thing. Most of you know it. With all the amount of food stamps that are going in and the BGRT [Business Gross Revenue Tax] is not matching, there\u2019s something wrong,\u201d he said.<\/p>\n
<\/p>\n
Manny Gregory T. Castro<\/p>\n","protected":false},"excerpt":{"rendered":"
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