FSM OFFICIALS MEET WITH INVESTORS AT THE 5TH BUSINESS OPPORTUNITIES IN THE ISLANDS CONFERENCE ON DAY TWO

Press Release #0409-16
Palikir, Pohnpei – FSM Information Services
April 09, 2009

Honolulu, Hawaii- April 8, 2009
On the second day of the 5th Business Opportunities in the Islands Conference, His Excellency Emanuel Mori, President of the Federated States of Micronesia, met with investors interested in doing business in the sectors of telecommunication, banking and renewable energy. President Mori welcomed their high interest, owing to the importance of those sectors for the FSM economy. He further reaffirmed the FSM Government’s commitment to improving the existing legal framework so as to enhance confidence and trust between the business community operating in the FSM and the National and State Governments.

President Mori also met with Senator Kalani English of the State of Hawaii Legislature. The President seized the opportunity to acknowledge and thank Senator English for his support of the Citizens Outreach and Advocacy Program in Hawaii.

On that same day, more than fifty interested Conference participants attended a special session dedicated to the Federated States of Micronesia led by the FSM Secretary for Resources & Development, the Honorable Peter Christian. In his address, Secretary Christian presented an overview of business opportunities in priority sectors identified by the FSM Government, including infrastructure, education and health, tourism, fisheries and agriculture. He invited potential investors to take advantage of the cheap labor market, duty free access to the US Market, and grants provided by the US under the amended Compact.

Secretary Christian also had informal discussions with the Minister of Resources & Development of the Republic of Marshall Islands, the Honorable Fredrick H. Muller, on issues related to trade and investments that are of mutual concern for both countries. The Ministers agreed on the need to convene a meeting of the Micronesian Trade Committee in the near future.

For more information, please contact the Department of Resources and Development at telephone number (691) 320-5133.