Speaking before the CNMI\u2019s businessmen, Gov. Benigno R. Fitial vowed to run his administration in a pro-business manner and refocus the government\u2019s scarce resources into efforts that would generate revenue.<\/p>\n
At the same time, Fitial declared that he would reduce the size of the CNMI government to restore fiscal integrity, as he assured that his administration would be prudent in its spending. Fitial said hiring of government personnel would be based on merit system. \u201cWe\u2019re going to do away with hiring employees under the political system.\u201d<\/p>\n
In his speech at the Saipan Chamber of Commerce installation dinner Tuesday night, Fitial laid out certain policies that he wants changed to make the CNMI\u2019s climate more business friendly.<\/p>\n
\u201cOne of the policies I will change, for instance, is the over-the-federal minimum wage policy for Capital Improvement Projects. This is a policy favored by the previous administration. It\u2019s a flawed policy that needlessly taxes our government. It\u2019s a self-imposed burden that I intend to immediately eliminate to reduce costs and make the most of our scarce resources,\u201d Fitial said.<\/p>\n
\u201cThis administration will put politics aside and focus on basic market economics. We will not insist on paying more than the federal minimum wage on CIP purely for political reasons, just so we can feel better about ourselves, at the expense of our taxpayers and our deteriorating financial fundamentals,\u201d he added.<\/p>\n
The governor said that, while CIP projects are important to the islands\u2019 infrastructure development, business activities would propel the CNMI to economic prosperity. He said wealth comes from the private sector and not the government.<\/p>\n
\u201cBusinesses pay taxes, hire employees, purchase services, supplies and capital equipment. Businesses make generous charitable contributions and support other businesses. Businesses build and create, while governments tax, spend, and regulate,\u201d he said.<\/p>\n
\u201cAs many of you know, I am pro-business, and my new administration will reflect my affinity for sound, profitable businesses that benefit our society,\u201d the governor said. \u201cLet there be no mistake: pro-business does not mean special interest. My support for business is based on the benefits that successful businesses bring to our entire Commonwealth community.\u201d<\/p>\n
Fitial also announced that two investors from the U.S. mainland, who were present during Chamber\u2019s gathering, would infuse investments into the CNMI. Those businessmen include Stephan M. Gardner, vice president for business development of Miami-based Interlink Global Corp., which is engaged in the telecommunications business. Fitial said another investor, Jeff Russel, would put up a call center in the CNMI.<\/p>\n
\u201cTo have a truly vibrant economy, investors need good returns on invested capital and laborers must earn good wages. But good wages come about as a result of the increased productivity of labor and capital rather than as a result of government decree,\u201d he said. \u201cThis is why we must be very careful about raising the minimum wage at this time. We must never put politics before economics, especially when our economy is so bad.\u201d<\/p>\n
Fitial said his administration is forming a think tank that would be composed of private business representatives, urging businessmen to make suggestions to the government on how to make the islands more business-friendly. He named the new Chamber president, Charles V. Cepeda, as one of the committee\u2019s members.<\/p>\n
Fitial said his government would curtail government spending and allocate resources to generate more revenues, such as those that enhance tax collections. He said investors would regain confidence once they see that the CNMI has established a stable and accountable government that spends wisely, \u201cwell within its means.\u201d<\/p>\n
The governor said he would be careful in considering the acquisition of multi-million-dollar assets that are costly to maintain.<\/p>\n","protected":false},"excerpt":{"rendered":"
Speaking before the CNMI\u2019s businessmen, Gov. Benigno R. Fitial vowed to run his administration in a pro-business manner refocus the government\u2019s scarce resources into efforts that would generate revenue.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-97098","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/97098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=97098"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/97098\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=97098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=97098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=97098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}