17 May 2005

US firms learn about Guam's business climate

8:17 am on 17 May 2005

Representatives of 15 US mainland businesses are leaving Guam this morning after having met leaders of public and private leaders to learn about the island's business climate.

The Pacific Daily News reports the trip was arranged by the US Department of the Interior.

The companies are also interested in making investments in the Republic of Palau and the Commonwealth of the Northern Mariana Islands.

Assistant Secretary of the Interior Lynn Scarlett says Guam lies at the gateway to Asia and is a significant location, strategically from a military standpoint as well as economically.

The companies ranged from construction to high-technology firms, as well as businesses related to tourism, education and health care.

Assistant Secretary of the Interior for Insular Affairs, David Cohen, emphasised that any US firms moving in, wouldn't compete with local businesses or take away business from them.

Mr Cohen says the department wants to bring in companies that are looking for local partnerships, so that local businesses will benefit.